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Income Protection Insurance Quick Quote

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Policy Wording - Policy Summary

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Income Insurance FAQ
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Ant Insurance does not believe in hiding the small print; we will explain about the policy in plain English and wherever possible give you direct links to the relevant part of the Easy Read Policy wording. However it is your responsibility to ensure this product is suitable for your needs so please read the full Terms and Conditions.

THE IMPORTANT STUFF

What is Income Protection Insurance?

This Income Protection Insurance is co-branded as Lifestyle Protection. If you lose your income due to accident, sickness or unemployment it provides a monthly sum you choose that is based on a percentage of your income, and you decide how to spend it.

This cover is not specific to any particular debt and so it can be used for any purpose you choose, paying your mortgage, rent, loan repayment, bills, car expenses, school fees etc.

There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance visit www.moneyadviceservice.org.uk

Benefit amount

This tax free monthly payment is up to £1500 or 65% of your gross monthly salary; whichever is the lesser.

Benefit period

This is the number of months you could claim, subject to the Terms and Conditions, for any one period of accident, sickness or unemployment.

We offer 12 months per claim or until you return to work whichever comes first.

You can make multiple claims for the life of the policy but there is specific criteria relating to this that is dealt with under “Claiming”

Initial Exclusion Period

Click here for the Policy Wording Extract

This is a period of time from the start date of the policy during which, should you be made unemployed or be aware of impending unemployment, you would not be eligible to claim for that period of unemployment.

Payment Protection policies all have an initial exclusion period for redundancy claims (this does not apply to Accident & Sickness) and the length varies from provider to provider.

Our initial exclusion period is 120 days from the start date of the policy.

Waiting Period

This is the number of days you must be continuously off work through accident, sickness or unemployment before a claim can be made. If you are not off work for a minimum of 30 continuous days you will not be able to claim.

Benefit will be paid monthly in arrears (ie backdated to the first day of that 30 day period). Subsequent payments will be calculated on a daily basis and paid monthly in arrears.

If you choose an excess period this will extend the Waiting Period by the excess period selected and will be shown on your Policy Documents.

A zero excess period (Back to Day 1) does not extend the Waiting Period and successful claims are paid back to Day 1.

Excess Period

This is the number of days at the start date of your claim for which no benefit is payable and during which time you must be continuously off work. If you choose an Excess Period of 30,60,90 or 180 days this will extend the 30 day Waiting Period (see above) by the Excess Period selected.

This choice is made by you during the application process and you can choose for each individual cover type selected (Accident & Sickness and/or Unemployment).

A 30 day excess period extends the waiting period to 60 days and successful claims are then backdated to day 30.

A 60 day excess period extends the Waiting Period to 90 days and successful claims are then backdated to day 60.

Further examples of Excess Periods and how it extends the Waiting Period is shown below:

Excess Period Waiting Period
0 (Back to Day 1) 30
30 60
60 90
90 120
180 210

UNEMPLOYMENT EXCLUSIONS

All Payment Protection policies have exclusions and it is really important you are aware of them. Our ethos is complete transparency and customer friendly navigation so please read the relevant extract from the Easy Read Policy Wording where supplied.

Impending redundancy

Click here for the Policy Wording Extract

You are aware of impending redundancy either before or during the initial exclusion period.

Unemployment exclusions:

Click here for the Policy Wording Extract

Significant exclusions include if your unemployment is voluntary, if the work is seasonal or temporary, for any period you receive payment in lieu of notice, as a result of civil disorder, because of your own misconduct, negligence or breach of contract and for any period where you are not registered with the Department of Work and Pensions. Please read the Click here for the Policy Wording Extract for the full criteria.

If you are ineligible for Job Seekers Allowance, we will waive the requirement to be in receipts of this provided you are receiving National Insurance Credits.

Note: Self-employed, Contract and Subcontract workers have specific exclusions that are covered independently.

Self-Employed/Sub Contractor/Employed by a member
of your family

Click here for the Policy Wording Extract

The Terms and Conditions in relation to Accident & Sickness are the same for all policy holders but specific criteria apply for claiming Unemployment.

A significant exclusion is that your business must have been registered as having ceased to trade with the HM Revenue and Customs as a direct result of being unable to pay its debts as and when they fall due.

Please read the Click here for the Policy Wording Extract for the full restrictions.

Contract Worker

Click here for the Policy Wording Extract

The Terms and Conditions in relation to Accident & Sickness are the same for all policy holders but unemployment claims cannot be made unless you have been:

A Contract Worker employed continuously by the same employer for at least 2 consecutive years or A Contract Worker employed on a fixed-contract for at least 1 year which has been renewed at least once or

A Contract Worker employed originally on a permanent basis by the same employer but were subsequently transferred to a fixed-term contract by the employer without a break in employment.

Accident or Sickness

Click here for the Policy Wording Extract

Significant exclusions include AIDS, self-inflicted injury, alcohol or drugs related, operations or treatments not medically required.

There are specific limitations relating to Pre-existing conditions (see explanation in next point), chronic condition (see following explanation), mental or nervous disorder, backache or back related conditions, normal pregnancy or childbirth unless there are medical complications and these are dealt with in “Claiming”.

Pre-existing Condition

Click here for the Policy Wording Extract

A condition, or illness, that you were aware of at the start date of the policy or have received treatment for during the 12 months immediately prior to the start date of your policy

This exclusion is waived if you have been symptom free for a period of no less than 24 months before the start date of any claim.

Chronic Condition

Click here for the Policy Wording Extract

A Chronic Condition has at least one of the following characteristics:-

  • it continues indefinitely; or
  • it is constant and is controlled rather than cured; or
  • it has symptoms which recur and have required consultation, treatment or care in the past; or
  • it requires long-term monitoring or treatment, consultations, check-ups, examinations or tests

 

POLICY HIGHLIGHTS

Cover Options

Combined Accident, Sickness and Unemployment cover will protect against loss of income due to Involuntary Unemployment, Accident or Sickness or you can just choose Accident & Sickness cover only.

We do not offer Unemployment Only cover but because we uncouple the excess periods for unemployment and accident and sickness, it is possible to choose a long excess period for the Accident and Sickness part of the Policy but have Back to Day 1 (0 Excess) for the Unemployment part.

Use our Quick Quote to compare premium rates.

Individual flexible Excess Periods

Traditionally when you buy an Accident, Sickness and Unemployment Policy your chosen excess period must apply to both the Accident/Sickness and Unemployment covers, even though you may need them at different times.

Ant’s Lifestyle Protection Insurance allows you to tailor your policy so your individual covers can be paid at varying times depending on your circumstances and significantly reduce your premiums.

Example: If you have 3 months company sickness benefit and are eligible for one month payment in lieu, you are more likely to want to choose a 90 day excess period for accident & sickness but a 30 day excess period for unemployment.

By using this flexibility you can reduce your premiums considerably and only pay for what you actually need.

Self Employed/Contract Worker /Sub Contractor/Employed by
a Member of your family.

Click here for the Policy Wording Extract

We offer Unemployment cover for Self-employed/Contractors/Sub Contractors and those employed by members of their own family but there are specific criteria that apply for claiming unemployment. Please read the Policy Wording for a full list of the exclusions.

The Terms and Conditions in relation to Accident & Sickness are the same for all policy holders.

If you receive Company Sickness benefit

Some providers will not pay you benefit whilst you are in receipt of company sick pay but with this policy we do.

However if you want to reduce your premiums you can use the Accident & Sickness excess period to begin payments after your company sick pay benefit has ceased which can considerably reduce your premiums.

Back Conditions

You can claim for back related conditions but there are specific claiming criteria. Please see “Claiming” for full details.

Stress related conditions

You may be able to claim for certain stress related conditions but specific limitations do apply. Please see “Claiming” for full details.

Pregnancy

You may be able to claim for certain pregnancy related condition but specific limitations do apply. Please see “Claiming” for full details.

New Deal for Disabled People

If you are claiming under the Accident & Sickness provision of this Policy and subsequently find part-time work of less than 16 hours per week through NDDP (New Deal for Disabled People) you will still be able to claim under this policy as long as you are in receipt of Employment & Support Allowance and the part time work is for less hours than those worked prior to your claim.

If you have more than one job

Click here for the Policy Wording Extract

If you have more than job you will be eligible to claim unemployment should you lose at least one job, providing:

  • You are working in your remaining job for less than 16 hours per week and
  • You are able to register with the Department for Work & Pension for Job Seekers Allowance (JSA) and provide evidence of actively seeking work.

Special conditions apply if you are a Company Director.

ELIGIBILITY CHECKLIST

Criteria:

Click here for the Policy Wording Extract

You must be:

  • A UK resident (and able to register as unemployed with the Department of Work and Pensions.
  • Over the age of 18 and under the age of 64 (benefit ends at age 65)
  • Actively in work for 16 hours or more per week and have been so continuously for the previous 6 months.

You must not be:

  • In casual, temporary or seasonal employment
  • Currently unable to attend your normal place of work due to an accident or sickness unless you are on maternity, paternity, adoption or parental leave
  • Aware of any impending accident or sickness

Most importantly: You must not be aware of any impending unemployment

Self-employed/Contract Worker/Sub Contract Worker/ More than one job/
Employed by a member of your family

Click here for the Policy Wording Extract

The following may affect your eligibility to apply or claim unemployment so please read the Click here for the Policy Wording Extract carefully if relevant to you:

  • Self-employed,
  • A contract worker,
  • Sub contract worker
  • Have more than one job or
  • Employed by a member of your family

Pre-existing Condition

Click here for the Policy Wording Extract

You will not be able to claim for any condition or illness that you were aware of at the start date of the policy or have received treatment for during the 12 months immediately prior to the start date of your policy.

This exclusion is waived if you have been symptom free for a period of no less than 24 months before the start date of any claim unless the condition is a chronic condition.

Chronic condition?

Click here for the Policy Wording Extract

You cannot claim for any Chronic Condition that you were aware of prior to your application or prior to any application to increase your benefit.

Other Payment Protection Policies.

Click here for the Policy Wording Extract

If you have other insurance which provides the same cover, or partial cover, then we may seek to share the cost of the claim with the other Insurance Company. In these circumstances you may be entitled to a refund of any excess premium you may have paid.

The maximum benefit payable for accident, sickness or unemployment, when added to any other accident, sickness or unemployment benefit being paid that month under a Policy underwritten by us or any other insurer is 65% of your gross monthly income.

YOUR POLICY

Cancellation

Click here for the Policy Wording Extract

You have the right to cancel this policy at any time. If you cancel within 30 days of receiving your Policy Documents you will receive a full refund of any premiums paid. You will not be entitled to a refund if you have made a successful claim in this period.

Policy Changes

Click here for the Policy Wording Extract

As this is a monthly renewable policy it gives you the flexibility to change your cover at any time.

Certain exclusions may apply if you:

What happens if my circumstances change

Click here for the Policy Wording Extract

You should notify us of any significant changes that may occur, such as living or working outside the UK, as this may affect your ability to claim.

Will I receive my full benefit?

The benefits payable are based on your average salary earnings during the 12 months leading up to a claim; this may be different to the figure you gave when you applied for cover. So if your salary reduces you should notify the insurer to make sure your premium is amended so you are not paying for cover you cannot claim.

What if my circumstances change?

Click here for the Policy Wording Extract

You must notify us of any changes that might alter your eligibility or claiming criteria.

Can the Insurer increase my premium?

Click here for the Policy Wording Extract

In line with virtually all insurance policies no insurer can guarantee that premiums will not rise. Therefore the premiums are reviewable and the insurer can change the premiums payable by giving you 60 days written notice at your last known address. The insurers must provide you with reasons for any change in premium payable.

Should this occur and you find a cheaper policy elsewhere, it is worth remembering that most providers will allow you to transfer to them and will usually waive the exclusion period. However every provider is different so you should check this is the case before you switch.

How will I know when my application has been accepted?

When you submit an application for cover on-line, including completion of a direct debit mandate, this means you have applied for a policy. We look at each one individually. Applications are underwritten and you may be asked for additional information. However, we undertake not to debit any premium from you’ your account until we confirm in writing that your application has been accepted by the Underwriters and you have been placed on cover.

The cover on any existing policy you may have should be maintained until you have written confirmation that your new policy is in force.

When will you stop paying my benefit?

Click here for the Policy Wording Extract

Your cover will be automatically renewed each month provided your premium is paid and accepted. However your policy will automatically terminate following the earliest of certain dates. See the Policy Wording

CLAIMING

Accident & Sickness

Click here for the Policy Wording Extract

A claim is calculated from the date you are first signed as unfit for work by a Doctor. Benefit is paid monthly in arrears1.

If you have chosen Back to Day 1 (“0” excess period) you need to be totally unfit for work for the duration of the Waiting Period (30 continuous days). At the end of this period we will pay one monthly benefit.

If you have chosen a 60 day excess period you must be totally unfit for work for 90 days. If you are still unable to work after that period we will pay you one monthly benefit backdated to day 60.

Please note that no benefit is payable for the duration of the chosen Excess Period.

Unemployment

Click here for the Policy Wording Extract

A claim is calculated from the date you first register with the Department for Work and Pensions as being unemployed. Benefit is paid monthly in arrears.

Examples for claiming for Back to Day One or following a 60 day Excess Period are explained in the Accident & Sickness section above.

Carer Cover

Click here for the Policy Wording Extract

Carer cover is only available if you have selected unemployment cover. The maximum benefit payable under the Carer Cover provisions of this Policy is a single payment of 12 times your chosen monthly benefit. Once a benefit has been paid the Carer Cover benefit of this policy will end.

Back related conditions

Click here for the Policy Wording Extract

If your Doctor provides on examination of abnormal findings we can pay to a maximum of 3 months. No benefits will be payable after that period if scan evidence of the abnormality causing the disability is not provided.

Pregnancy issues

Click here for the Policy Wording Extract

Normal pregnancy and childbirth related conditions are excluded. If the claim against your policy is for a pregnancy or childbirth related condtio we may refer to a specialist doctor for an opinion as to whether the condition can be classified as normal.

Stress related conditions

Click here for the Policy Wording Extract

You cannot claim for stress or a stress related condition unless the condition has been diagnosed by a Community Mental Health Team overseen by a member of the Royal College of Psychiatrists, or has been investigated and diagnosed by a Consultant Psychiatrist.

Multiple Claims for Accident & Sickness

Click here for the Policy Wording Extract

You can make multiple claims for the life of this policy. However to make a multiple claim you must return to work for a period of time between claims.

  • If you have not received benefits for the maximum benefit period (as shown on your insurance schedule), where two periods of an accident or sickness are separated by 3 calendar months or less, we will treat this as one continuous claim.
  • If your Accident or Sickness results from the same cause or condition as a previous claim, you must have returned to work for a continuous period of at least 6 months before you can make a further claim for accident or sickness.

Subject to the above two paragraphs, you will not be entitled to accident and sickness benefits until you have returned to continuous work for at least 1 month.

Multiple Claims Unemployment

Click here for the Policy Wording Extract

You can make multiple claims for the life of this policy. However to make a multiple claim you must return to work for a period of time between claims

  • If you have not received benefits for the maximum benefit period (as shown on your insurance schedule), where two periods of unemployment are separated by 6 calendar months or less, we will treat this as one continuous claim.
  • If you have previously claimed unemployment for the maximum benefit period (as shown on your insurance schedule), you must have returned to work for a continuous period of 6 months or more before you can make a further claim for unemployment.
  • Whilst unemployed you may take temporary work and your claim will be suspended. Provided your temporary work does not continue for more than 6 months, your claim will resume as if you had one continuous claim.

Claiming limitations

Click here for the Policy Wording Extract

You cannot claim:

  • For Accident & Sickness and Unemployment at the same time
  • If you have another insurance with the same cover (then we may seek to share the cost of the claim with the other insurance provider)
  • If you have received a benefit which under the Carer Cover section of this Policy (under certain conditions)

Benefit payment

The benefit of a successful claim is paid monthly in arrears. The benefit will be paid directly into the bank account that the Direct Debits are collected from. These benefits are currently tax free.

Payment ceases

Click here for the Policy Wording Extract

When your benefit period ends or you find employment or are certified fit for work by your doctor or you do not pay your insurance premium.

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