Step 1: Income Protection Insurance

Accident & Sickness Only, Unemployment Only or Combined ASU

from 60p per £100 per month benefit

INCOME PROTECTION HIGHLIGHTS (ASU)

1. You can cover up to 50% of your net income or £1,000 whichever is the lesser
2. Payment is paid directly to you and you choose how to spend it
3. Back to Day 1 cover and the benefit is tax free
4. Flexibility of cover with a unique choice of 3, 6 or 12 months benefit period
5. Antinsurance, a trading style of FIUK.com Ltd is authorised and regulated by the FSA
6. Temporary Work Feature and Return to Work Benefits
7. You can cancel the policy at any time with no penalty
8. Click here to find out why our prices are so low
9. We are underwritten by Assurant Solutions

With this income protection policy you can cover just your mortgage or loan payment or add any or all of your monthly outgoings

INCOME PROTECTION POLICY SUMMARY

This document only provides a summary of the main features and benefits of the policy together with the main exclusions and limitations. A copy of the full terms and conditions are provided online. Please read them to ensure that they provide the level of cover you require.

The underwriter for this insurance

This policy is underwritten and administered by Bankers Insurance Company Limited (a member company of Assurant Solutions) who are authorized and regulated by the Financial Services Authority (FSA No. 202735). This can be checked on the FSA’s website at http://www.fsa.gov.uk/register or by phoning them on 0845 606 1234.

How the policy works

This policy - with Back to Day 1 cover - is designed to protect your lifestyle when accident, sickness or unemployment prevents you from working for 30 or more consecutive days and you are no longer in receipt of your usual salary. One monthly benefit is payable on the 31st day of continuous accident, sickness or unemployment - and backdated to day 1 - with 1/30th of the monthly benefit payable for each day thereafter. These monthly benefits will then continue for a period of either 3, 6 or 12 months, depending on the benefit period selected by you or until you return to work. The maximum monthly benefit you can choose is £2,000 or 75% of your net monthly income, whichever is the lower and the tax free monthly benefit is paid directly to you to use how you wish to help pay your bills such as mortgage, rent, loan, credit cards, utility bills, etc or for any other purpose you choose. Cover can remain in force up to retirement age.

Eligibility

You are covered under the policy if on the start date you:

are at least 18 and under 64 years of age; and
are actively working (i.e. not off sick) when you apply or away from work on statutory maternity, paternity or adoption leave; and
have been working for at least 6 months for 16 hours or more each week immediately before the start date; and
you are named on the application form; and
we have accepted your application; and
you are a permanent resident in the UK, Channel Islands or the Isle of Man

If you are a contract worker and employed under a fixed term contract of employment, you must meet the conditions above at the start date. In addition, we will only consider your cover under the unemployment section in accordance with the definition of work. Please refer to the definition of work in the policy wording.

Since your cover is based on your employment, please tell us immediately if your circumstances change or if you wish to change or amend your policy. In particular, you should advise us if you start to work less than 16 hours per week.

How much cover can I have?

The maximum monthly benefit you can choose is £1,000 or 50% of your gross monthly income, whichever is the lesser. Confirmation of the amount of your monthly benefit will be shown on the schedule of insurance you receive in your policy fulfilment pack.

The cover available

The following cover options are available to you:

Accident, sickness and unemployment
Accident and sickness only

Only one person can be insured on one policy. For cover for two people, each should complete a separate application. Please regularly review the cover provided by the policy to ensure it meets your needs.

Is there an exclusion period?

You cannot make a claim for unemployment (this does not apply to accident or sickness) for the first 90 days from the commencement of the policy.
Note: If you already have an existing payment protection policy and you wish to transfer to our Income Protection policy you may be eligible for a waiver of the exclusion period at our discretion.

Unemployment cover

Subject to certain exclusions, the insurers will pay unemployment benefits if you were to permanently lose employment or self-employment. You must be registered as being unemployed at the Job Centre Plus and provide corresponding evidence that you are looking for permanent work. We will not pay benefits directly relating to any claim that we consider you were aware of before the policy started

The main exclusions are:

impending unemployment or employment ending within the exclusion period
if you were not continuously employed for 6 months before your employment ended
normal or seasonal unemployment in your work
misconduct contributing or leading to your dismissal, failure to pass a probationary period or perform your job
resignation or acceptance of voluntary redundancy/unemployment
refusal to accept a reasonable offer of employment by your employer
self-employed persons whose business temporarily stops trading

For a full list of exclusions please refer to Sections 11 and 12 of the policy terms and conditions.

Accident & sickness cover (Incapacity)

Subject to certain exclusions, the insurers will pay accident & sickness benefits if you were unable to work as a result of the accident or sickness you were claiming for. We will not pay benefits directly relating to any claim that we consider you were aware of before the start date.

The main exclusions are:

accident or sickness before the start date
pre-existing conditions
chronic conditions
self-inflicted injuries, or drug/alcohol abuse
stress, anxiety, depression or nervous disorders unless certified
backache if not evidenced
normal pregnancy or related conditions

For a full list of exclusions please refer to Sections 7 and 12 of the policy terms and conditions.

Duration of claim payments

Claim payments will cease at the earliest of:

the date the policy ends
when you are no longer incapacitated through accident or sickness, or unemployed
when the maximum number of monthly benefits per claim have been paid
the date your contract would have expired if you are a contract worker

You are required to pay your premiums as they become due – including during a claim.

When cover ends

The policy will automatically end if:

you die
Or each the statutory retirement age or permanently retire
you cancel the policy
you are no longer resident in the UK
you stop paying the monthly premium

For a full list please refer to Section 13 of the policy terms and conditions.

The duration of the insurance and premium payment

This is a monthly contract. The premium is paid monthly by direct debit. The insurers have the right to change the policy wording or the premium with 30 days notice. The premium includes Insurance Premium Tax. Any changes to this tax would be reflected in your premiums.

The cost of this policy

The amount of premium to be paid is dependent upon the amount of monthly benefit and cover you choose. The premium level charged at the start date varies according to your age. The monthly premium payable (including Insurance Premium Tax) is shown in the application form and in your policy schedule.

How do I cancel the policy?

You can cancel this insurance at any time by writing to the insurer. If this is done within the first 30 days of the start date or receipt of the policy terms and conditions (whichever is the later) then we will give you a full refund of any premiums paid – as long as you have not made a claim. If you cancel the policy no further premium will be collected and no refund of premium will be made (see Section 15 of the policy terms and conditions).

How do I make a claim?

If you need to make a claim, you must contact us as soon as reasonably possible and at least within 30 days of the incident date (Section 16 of the policy terms and conditions). You should contact us at Bankers Insurance Company Limited, 117-119 Whitby Road, Slough, Berkshire, SL1 3DR or telephone 0870 024 0669. Please fill in the claim form and return it to us and we will process your claim. We should receive the claim form within 120 days. If you do not do this, your benefit may be affected. We may allow you a longer period to register a claim if you ask. We will give you information to help you fill in your claim form and tell you what details are required.

What should I do if I have a complaint?

Although we set ourselves high standards, if we do not meet your expectations and you are dissatisfied in some way we would like to know. If you follow the guidelines below, your complaint will be dealt with in the most efficient way possible (see Section 19 of the policy terms and conditions).

Step 1. Please contact or write to the Operations Director, Bankers Insurance Company Limited, 117-119 Whitby Road, Slough, Berkshire, SL1 3DR. Telephone: 0870 152 6000. Email: uk.complaints@assurant.com

Step 2. If you are still not satisfied with the way we have dealt with your complaint you can ask the Financial Ombudsman Service to review your case. You can contact them at the following address: South Quay Plaza, 183 Marsh Wall, London, E14 9SR. Telephone: 0845 080 1800.

The Financial Services Compensation Scheme

If Bankers Insurance Company Limited are unable to meet their liabilities, you may be entitled to compensation from the Financial Services Compensation Scheme (FSCS) who can be contacted at: 7th Floor Lloyds Chambers, Portsoken Street, London, E1 8BN (Telephone: 0207 892 7300. Email: enquiries@fscs.org.uk ). The first £2,000 of an insurance claim or policy is covered in full through the FSCS, plus 90% of the balance.