For most of us, being unable to work for medical reasons would be a serious financial challenge. What would happen to you or your loved ones if you couldn`t work because of an illness or injury that resulted in a loss of income? How would you cover your unpaid bills such as rent, mortgage or other living expenses? Our policy applies to both employees and self-employed workers, working 16 hours or more per week. It is available if you are between the ages of 18 and 55 and live in the UK. The insurance covers up to 60% of your salary if you have to be released from work for 4 weeks or more due to illness or injury. This is for those who do not receive full sickness benefit from their employer. The monthly payment you receive is there to cover rent or mortgage, bills, utilities, and other lifestyle expenses for you and your family. The coverage is for those who want comprehensive coverage with a choice of options to protect themselves against loss of income if they are unable to work due to incapacity for work due to illness or injury while covered by the plan. Health and accident insurance is not unemployment insurance, so it is not paid because of unemployment. If you lose your job while you have the policy, you can still make claims if you get sick or injured as long as you have continued to pay for the policy after unemployment. Why cover your income when statutory sickness benefit is supposed to help you financially if you can`t work? Basically, SSP only pays a maximum of £96.35 per week for 28 weeks, so if you rely completely on SSP, it probably won`t be enough to cover your utility bills, rent or mortgage, and general living expenses – especially if you`re sick at the end of the benefit payment. Therefore, purchasing health and accident insurance can cover you if you are unable to work due to illness or injury. However, purchasing insurance isn`t just for the self-employed, this type of coverage can also be invaluable for full-time employees if: Ultimately, the best health and accident insurance is a policy that meets your needs and those of your loved ones and provides the right coverage and financial support to give you security in case you are unable to work due to a Illness, Injury or accident.
Please call our claims team as soon as you know you will be away for 4 weeks or more, but no later than 2 weeks after work. Our team will discuss your illness or injury, send you a claim form so you can fill out your medical information, and give us details about your illness or injury. We will also ask you for financial information and details about your work. Your claim will be assessed and monthly payment will begin when the claim is valid. We can refer you to our rehabilitation support service to help you with your recovery if necessary. Read our guide to the difference between critical illness and incurable illness insurance and learn more about how we can cover you. There is no defined list of diseases or injuries covered. Our team will assess your application based on your incapacity for work due to your incapacity for work. If you are employed and unable to work due to illness, injury, disability or accident, you may be able to apply for a statutory sickness benefit (PHC). However, this benefit may not cover all of your expenses, especially if you are the primary breadwinner in your household. www.legalandgeneral.com/landg-assets/adviser/files/protection/sales-aid/deadline-to-breadline-2020-infographic.pdf It is important that you check your entitlement to contractual sickness benefit before applying to make sure it is the right cover for you. Simple coverage that provides a monthly benefit if you are disconnected from work due to illness or injury.
The benefit is paid after a waiting period of 4 weeks and paid monthly in arrears. Premiums start at just £6 per month, depending on the cover you need. Flexible income protection that helps cover loss of income. Comprehensive coverage that provides a monthly benefit if you are unemployed due to illness or injury. Choose waiting periods, limited benefit periods and a growing plan to protect monthly benefits from inflation So if you plan ahead, you might qualify for an insurance payment that helps cover bills and significant living expenses if you`re sick. Health and accident insurance is not a savings or investment product and has no monetary value unless a valid claim is made. The policy does not include unemployment insurance and does not pay if you lose your job. You can buy our health and injury insurance directly from us. If you think this simple coverage option meets your needs, you can get a quote without talking to a financial advisor. Legal & General offers health and injury insurance and has an easy online journey without having to speak to a financial advisor, and you can get protection from just £6 a month depending on your situation.
Available without advice if you clearly know your coverage needs. Your income is insured if you have an accident or become ill and need to be released from work continuously for 4 weeks or more. The maximum payment you can receive is based on 60% of gross income and is capped at £2,000 per month. This is the maximum equivalent payment for an annual gross income of £40,000. If you earn more, your monthly payment will be capped at £2,000. One of the advantages of this type of policy is that it pays monthly, so you don`t have to worry about having a regular income to cover monthly bills. If you`re looking for life insurance to specifically cover a repayment mortgage, take a look at our decreasing life insurance, where the amount of coverage pretty much decreases with how a repayment mortgage is reduced. With health and accident insurance, the monthly benefit could be used to pay regular bills and living expenses for illnesses or injuries that prevent you from working.
Please read the Health and Accident Insurance Brochure 05.21.pdf and the Summary of Health and Accident Insurance Policy 05.21.pdf Protecting your salary with insurance can help minimize the financial impact if you are unable to work. If a valid application has been made, the monthly benefit could be used to pay your rent or mortgage, as well as bills and child care expenses while you are away, so you can focus on your recovery instead of worrying about the financial impact. Learn more about our statutory and general health and accident insurance and receive an online offer. Get a simple online quote today without talking to a financial advisor. The deciding factor when taking out health and accident insurance is the financial security you can receive in the event of a valid claim. Critical illness coverage and income protection could protect your income and livelihood in the worst-case scenario. Read our guide to the key differences. Depends on the age of the customer at the end of the policy:. You must have at least 4 weeks of leave before receiving your withdrawal.
This is called a waiting time and it is fixed. Your payment will be paid monthly in arrears. Almost half of households perceive the loss of income as one of their biggest concerns if they are unable to work. Access some of the UK`s best advisors and non-invasive diagnostic tests for referrals in cardiology, oncology or neurosurgery. Available for an additional £4.50 per month*. You must have made at least one monthly payment before you can make a claim. You will continue to pay your premium during your 4-week waiting period while we review your application. Once your application is accepted, you will no longer have to pay your monthly premium. Once the claim is complete, either after receiving a 12-month payment or when you return to work – whichever comes first – you can pay your monthly premium again to continue your policy. The Income Protection Benefit can be purchased through our team of experienced financial advisors.
Health and injury insurance can only be purchased online, but our call center agents can help you with any questions you may have before applying. You cannot be unemployed when you take out the policy. You must work 16 hours or more per week. The Progressive Advantage option can be chosen to fill gaps in employee benefits so that your client doesn`t lose their premium or overpay. B@D.