Two weeks ago, Monday morning was made even more miserable for Maria when she got the heartbreaking news of her Redundancy. We made Tuesday feel rather better

Income Insurance

How would you be able to cope financially if you were unable to work due to an accident, sickness or redundancy?

There are other providers of Short Term Income Protection and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at: www.moneyadviceservice.org.uk/yourmoney. A typical monthly cost for Paymentshield Short Term Income Protection is £5.15 for every £100 of monthly benefit.*

We all work hard to provide and maintain a lifestyle for ourselves and our families. Our income is valuable and we know what we spend our money on. But what would you do if your income unexpectedly stopped coming in?

An accident, sickness, disability or redundancy can happen to anyone at any time. Our income insurance product is called IncomeShield and it is designed to provide you with peace of mind that should the worst happen you will be able to continue to support your cost of living and lifestyle.

Cover Benefits

A monthly benefit of up to £2,000, subject to a maximum of 65% of your gross monthly income (whichever is the lower)
Not linked to a Credit Agreement such as a mortgage or personal loan, so it can be used to cover your rent and utility bills
Claim payments are made direct to your bank account, allowing you to maintain control over your finances
The option to defer your first 2 months premium payments, or choose to pay your premiums from the start of your policy for a cheaper monthly premium
A choice of 12 or 24 months benefit period with Accident & Sickness cover
Cover available if you’re self-employed and have ceased trading. Please see our Glossary for a definition of “Ceased Trading.”
Carer Cover (included within Unemployment cover)
If you have to stop work to become a carer for an immediate family member, you are still entitled to claim under your policy, meaning you can continue to support your family whilst also protecting your outgoings. You must be registered as a carer and be in receipt of/awaiting Carer's Allowance from the Department for Work & Pensions (DWP).
Back to Work Support (included within Unemployment cover)
A confidential service which is included when you take out Unemployment cover, designed to provide you with advice and assistance in getting another job.
Health, Employment & Legal Protector (HELP) Cover
HELP provides legal expenses cover up to £50,000 for the negotiation or defence of your legal rights in respect of Employment and Bodily Injury disputes

* The monthly cost is inclusive of Insurance Premium Tax (IPT) at the current rate of 6%. The cost is based on a customer aged 26-30 taking out our full accident, sickness and unemployment option with 30 day back to day one cover, 12 months benefit and no deferred premium period, protecting income of £755 per month.

What's not covered?

As with all insurance policies there are certain circumstances when you will not be able to make a claim, known as exclusions. Full details of the exclusions which apply are provided in our Policy Document.

Some examples of exclusions include:

Claims relating to pre-existing medical conditions. Before being eligible to claim, you must be 12 months symptom free of a pre-existing condition, prior to the policy start date. If you do have a pre-existing condition and you are symptom free and have not consulted a doctor or received treatment for the condition for at least 12 months after the start of your policy, the pre-existing medical condition will then be covered. Please see our Glossary for a definition of a pre-existing medical condition.
Self inflicted injuries, cosmetic surgery or drug or alcohol abuse
Back conditions, or mental or nervous disorders such as stress
You resign, accept voluntary unemployment, or lose your job because of misconduct, fraud, dishonesty, poor performance or any act you carried out
Any impending unemployment that you are aware of at the start of your policy
Any unemployment you were advised of or which happens within the Initial Exclusion Period. Please see our Glossary for a definition of the Initial Exclusion Period.

IncomeShield is underwritten by Pinnacle Insurance plc.
HELP is underwritten by DAS Legal Expenses Insurance Company Limited