Top FAQ's
1) When can I claim?
After 30 consecutive days of loss of income you may make a claim and your benefit is then paid back to the first day of the 30 so you are paid in arrears.
Whilst Accident & Sickness claims can be made 30 days following the start date of your policy, unemployment claims are subject to an initial 90 days exclusion before they become effective, once these first 90 days have elapsed it is no longer relevant. No claims can be made until 30 days of consecutive unemployment following this initial 90 days. This does not apply if you have "transferred in" from a previous payment protection policy. Please see the "More Information" link and click on "If you have an existing insurance policy".
Public Sector Workers: You may make a claim if you are still without income 30 consecutive days following the cessation of your full sick pay entitlement and this would then be backdated to the first day of the 30.
2) When does my policy become effective?
The start date of your policy is within the next two working days that your online application is submitted although you will not receive your Policy Schedule in the post until 7-10 days after this.
3) Do I need to have a Mortgage Payment Protection and an Income Payment Protection?
A mortgage payment protection will protect only your mortgage payments to a maximum of £1,500 per month benefit. An income payment protection will protect a proportion of your income to a maximum monthly benefit of £2,000 but this will be paid to you much as your salary and it can be used to pay all or any of your monthly outgoings including your mortgage. It is slightly more expensive than Mortgage Payment Protection but it does allow you the flexibility to increase your monthly benefits as your salary increases and keep all your payment protection under one policy.
4) Can I have the maximum allowed on both Mortgage Payment Protection and Income Payment Protection?
Underwriters, in the event of a claim, would only pay you a maximum of 75% of your net monthly income, the remaining 25% would be made up from Statutory Sick Pay or Jobseekers Allowance. In the event of a claim, if the combined benefit you receive from your policies exceeds 75% of your original salary they would be justified in withholding any additional amounts above that figure so you could end up paying for an insurance you could not claim on.
If you wish you can have the slightly cheaper Mortgage Payment Protection for your mortgage and an Income Payment Protection for your other outgoings but remember that the combined monthly benefit from both policies must not exceed 75% of your net monthly income.
5) I don't work with in the Public Sector but I wish to take advantage of the policy, can I do that?
Yes, it is simply called a Public Sector Insurance but it is open to anyone who has company benefits of a period of full or half sick pay.
6) If I claim 75% of my income and this is paid whilst I am in reciept of half pay, this means I will recieve 125% of my income, is this correct?
Yes, this is one of the advantages of this public sector policy. You will be paid the full percentage that you have requested and, if this is 75%, then you would benefit by receiving 125% of your salary for the full period of your half pay.
Income Protection Insurance Jargon Buster
7) I changed job 2 months ago, can I still apply?
In order to be eligible to apply you must have been in continuous employment for 6 months or more. Within that time you may have a two week unpaid break if changing jobs without affecting that criteria.
If Unemployment is part of your policy cover you must have been in full time continuous employment for 6 months prior to any claim for unemployment.
8) I cannot choose the date my Direct Debit leaves my account
There is no opportunity to choose the Direct Debit date on the application form. However when you receive your Policy Schedule some 7-10 days later you will be notified of the first date that the payment is due to leave your account. If this does not suit you call the number of Assurant Solutions (as on the Policy Schedule) and ask to change it. The Direct Debit dates you may choose are either 7th, 14th, 21st or 22nd of each month.
9) I am self employed. Can I be covered with your policy?
Yes, you can be covered for any or all Accident, Sickness & Unemployment. The eligibility to apply is the same as for employees but your claiming criteria is different. Please see "More Information" link to the left of the page and click on "Self employed & Contract Workers" for your specific claiming criteria.
10) Can I increase my benefit or change my policy once it has started?
Yes you may increase your monthly benefit at any time (so long as it is always 75% or less of your net monthly income). Just use our Existing Customers "Contact Us" form. If you have crossed an age band since you originally took out your policy only the increased amount will be subject to the higher premium and only this amount will be subject to a further 90 day exclusion if unemployment is part of your policy cover. You may also change your policy cover or benefit period at any time during the life of the policy.