Plan Options

There are a number of options available on individual plans and the more common ones are listed below:

• The amount insured at the time of application can be set to a level amount or increasing each year by a fixed percentage or the retail price index (RPI).
• Some plans allow for further increases in cover. For example up to 30% every 3 years without having to provide further evidence of health, occupation or pastimes.
• For director shareholders the amount insured can include part of regular dividend payments and pension contributions paid by the company.
• The deferred period before payments are made can normally be set to 4, 13, 26 or 52 weeks. The longer the deferred period the lower the cheaper the plan will be.
• Some plans have a career break option which allows the insured to stop full time employment and replace the normal benefit with Housepersons Benefit without further evidence of health or pastimes.