Personal Income Protection
Protecting your ability to earn a future income
Absolute Income Protector
Why do I need it?
Injury or illness can occur suddenly and affect your income for an unpredictable amount of time. You will need to cover your living expenses to maintain your lifestyle during the period of disability or impairment.
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
How long will I be covered?
You will receive up to 24 monthly payments, but your cover can last until your chosen cover cease age.
The age at which your cover ends.
What does it cover?
Up to 100% of your income can be covered should you be unable to perform your job or are diagnosed with a permanent impairment.
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
How many times can I claim?
Multiple claims are possible, provided the maximum payments have not already been paid; or that the disability or impairment. claim is totally unrelated to a previously paid claim.
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
Is there a minimum period I will be paid for?
You are guaranteed payment for a minimum period of time for specific short term injuries and hospitalisation events. These defined claims will only be available if your waiting period is one month or less.
In addition…
Professionals get added benefits. Click here to find out more about these.
Click here to download detailed information about Absolute Income Protector.
Assessment of your future income
You can review your Absolute Income Protector and Extended Absolute Income Protector sum assured after each policy anniversary to ensure your cover keeps up with your actual annual salary increase.
Extended Absolute Income Protector
Why do I need it?
A long-term disability or impairment. impairment could have a drastic impact on your ability to earn a future income and even your retirement income. The longer you are unable to work, the greater the impact on your life. In some cases you may never be able to work again.
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
How long will I be covered?
You will receive cover up to the age of 70 – or Whole of Life – should you take that option.
What does it cover?
Up to 75% of your income can be covered should you be unable to perform your job or are diagnosed with a permanent impairment.
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
Payments start after 24 months of impairment or disability and may continue until your selected cease age. cease age. Where the Whole of Life option is selected a post-retirement claim will be paid until death.
The age at which your cover ends.
Claim increase
At the anniversary of the start of the claim, the claim amount will automatically increase in line with your selected pre-set option of 0%, 5% or CPI (capped at 10,5%).
After retirement, permanent impairment claims are always only increased by CPI (capped by 10.5%).
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
Extended Absolute Income Protector’s Claim Booster
We know that everyone wants to return to work after a disability, but unfortunately, this may not be possible in some cases. You can generally only insure up to 75% of your monthly income for longer term disabilities.
Because we understand that your family’s financial position will be in jeopardy should you suffer a long-term disability, we have included the Claim Booster to protect you against this.
This benefit is free of charge and will increase your monthly claim payment by 33.33% if you qualify. This means you may receive up to 100% of your pre-disability income.
To qualify, you need to be both occupationally disabled and qualify under the impairment definitions at 100% severity level. By increasing your claim amount, we aim to ensure that you can replace a larger portion of your income where your condition is regarded as severe.
Impairment is defined as a permanent loss of function in any part of the body whether it is physical, functional or mental. You are awarded an impairment claim based on the medical severity of the impariment you suffer and not whether you can work or not.
In addition…
Professionals get added benefits. Click here to find out more about these.
We also offer a unique, first in the market, Whole of Life Cease Age. Option. Find out more about it here.
The age at which your cover ends.
Click here to download detailed information about Extended Absolute Income Protector.
Assessment of your future income
You can review your Absolute Income Protector and Extended Absolute Income Protector sum assured after each policy anniversary to ensure your cover keeps up with your actual annual salary increase.