Income Protection - policy summary

The insurance for this policy is underwritten by Bankers Insurance Company Limited.

This document only provides a summary of the main features and benefits of the policy and a summary of the main exclusions or limitations.

Full details of the policy will be provided with your certificate of insurance and you should take the time to read this to ensure that it provides the level of cover you require. In this document we specify where information can be found in the certificate of insurance.

1. Introduction

Income protection insurance can help you protect your income if you become unemployed or suffer an accident or sickness (this is known as a incapacity).

The most you can insure is £1000, or 50% of your monthly income whichever is the lower. The maximum cover limitations are shown in section 5 of the certificate of insurance.

2. The type of cover available under this policy

The following options are available to you:

• Unemployment and incapacity insurance cover

• Unemployment only insurance cover

• Incapacity only insurance cover

3. How the policy works

• You choose the type and level of cover that is appropriate to your own particular demands and needs.

• You pay the premium as it falls due.

• We pay a monthly benefit for up to 12 months if you are unable to work due to unemployment or a incapacity.

Unemployment and incapacity cover will provide you with the maximum level of protection in the event of a claim.

Limitations if you restrict your cover:

• If you take out unemployment only cover you will not be able to make a claim for incapacity.

• If you take out incapacity only cover you will not be able to make a claim for unemployment.

4. Eligibility requirements

You can apply for cover if:

• You are 18 to 64 years of age and you live and work in the United Kingdom (including the Channel Islands and Isle of Man).

• You are actively working for a minimum of 16 hours per week.

• You agree to keep to the policy conditions.

You cannot apply for cover if:

• You are aware of any impending unemployment.

• Your work is casual, temporary or seasonal (including working for a temporary employment agency) or unemployment is a regular or
  re-occurring feature of your job.

• You are currently unable to work due to a incapacity. (This does not apply if you are on maternity leave, paternity leave, adoption leave or parental leave).

The eligibility requirements are shown in section 1 of the certificate of insurance.

5. Unemployment cover

If you have permanently lost your employment or self-employment due to circumstances that are entirely beyond your control, then subject to the policy exclusions we will pay unemployment benefits if you are registered as being unemployed and available for work at a benefits office (unless you are exempt). You must also provide us with satisfactory independent evidence that you are actively looking for permanent work.

Alternatively, we will pay unemployment benefits if you cease to work in order to become a full time carer for a member of your family and you are in receipt of invalid care allowance.

Limitations of unemployment cover:

• If you work as a contract worker or on a sub contracting basis you must have at least 24 months continuous service with your employer to receive full entitlement to claim benefits under the policy. If you have less than 24 months continuous service with your employer, you are not insured for the non renewal of your contract and your entitlement to receive benefits under the policy will cease on the date your contract was originally intended to terminate.

• Insurers will consider the first day of your unemployment to be the date on which you are first registered as being unemployed and available for work (unless you are exempt) and any entitlement to payment in lieu of notice has ended.

The main reasons Insurers will not pay out for unemployment are (the exclusions):

• You were aware of impending unemployment before the start date, or you are notified within 120 days of the start date.

• You were not continuously working for six months before your first claim for unemployment (this is waived if you were continuously working for 6 months before the start date).

• Your work is of a casual, temporary or seasonal nature (including working for a temporary employment agency) or unemployment is a regular feature of your job.

• You resign or accept voluntary unemployment.

• You refuse any offer of reasonable alternative employment by your employer.

• You take early retirement instead of unemployment.

• Your employer takes disciplinary action against you as a result of misconduct, fraud, dishonesty or you fail to meet any performance standards or targets laid down by your employer.

The definitions confirming when Insurers class you as employed or self employed are shown in section 8 of the certificate of insurance.

The full exclusions for unemployment cover are shown in section 4 of the certificate of insurance. General conditions for making a claim are shown in section 7 of the certificate of insurance.

6. Incapacity cover

Subject to the policy exclusions, Insurers will pay incapacity benefits if you are unable to work as a result of the incapacity you are claiming for and you are not receiving any form of payment other than your normal or statutory sick pay.

Limitations of incapacity cover:

• Insurers will consider the first day of your incapacity to be the date on which a doctor or consultant first certifies that you are unable to work.

The main reasons Insurers will not pay out for incapacity are (the exclusions):

• You were aware of an impending incapacity before the start date.

• Your incapacity is caused by any pre-existing condition.

• Your incapacity is due to a chronic condition.

• Any type of self-inflicted injury, alcohol abuse, drug abuse or if you fail to follow any medical advice.

• Stress, anxiety, depression or nervous disorders. This is waived if a consultant certifies the condition stops you from working.

• Pregnancy or pregnancy related conditions.

• Backache or any back related condition if there is no physical or radiological evidence of a medical abnormality. This is waived if a consultant certifies that the condition stops you from working.

The full exclusions for incapacity cover are shown in section 4 of the certificate of insurance. General conditions for making a claim are shown in section 7 of the certificate of insurance.

7. Qualification period

The period of time you will have to wait before you can start to receive any claim benefits is known as the qualification period.

To qualify for claim benefits, your unemployment or incapacity must last for at least 30 consecutive days.

On the 31st day of continuous unemployment or incapacity, we will pay an amount equal to one monthly benefit. From the 31st day onwards we will pay 1/30th of the monthly benefit for each day you remain continuously unemployed or disabled. Any claim benefits due to you will be paid monthly in arrears.

Insurers will stop making claim payments on the date that one or more of the following events should occur:

• Your unemployment or incapacity ends or you fail to meet any of the policy conditions for claim payments.

• We have paid 12 monthly benefits for any one claim.

• Your policy is cancelled or terminated.

8. Duration of the insurance

This is a monthly contract. The policy is issued for an initial period from the start date to the date the first premium is due and will automatically be renewed for a further month on payment of each premium as it falls due. Please be aware that this policy may need to be reviewed and the level of cover updated periodically to ensure that you have and maintain an adequate level of cover.

9. The paying of premiums

The premium is payable monthly in advance by direct debit.

We can change your premium by giving you 30 days notice in writing. The premium includes Insurance Premium Tax (IPT) at the current rate. If we are required by law to increase the level of IPT or to make any other charges, we will increase your premium from the date any such changes are implemented.

In the event that a premium remains unpaid 30 days after the date on which it falls due, cover under the policy will cease.

10. Direct Debit Guarantee

This guarantee is offered by all banks and building societies that take part in the direct debit scheme. The efficiency and security of the scheme is monitored and protected by your own bank or building society.

If the amounts to be paid or the payment dates change, Adminicle Limited will notify you ten working days in advance of your account being debited or as otherwise agreed.

If an error is made by Key Adminicle re Adminicle Limited or your bank or building society, you are guaranteed a full and immediate refund from your branch of the amount paid.

You can cancel a direct debit at any time by writing to your bank or building society. Please also send a copy of your letter to us.

You should retain this guarantee for future reference.

11. Cancelling your policy

If having examined your policy you decide not to proceed with the insurance, you have 30 days to cancel from the policy start date without charge.

Insurers will not refund any premiums you have paid if you cancel your policy after the first 30 days.

To cancel, please write to the address shown on your policy certificate.

Insurers may cancel your policy by giving you 30 days written notice. This will not affect your rights to receive claim benefits for any event that occurred before the cancellation date.

12. Making a claim

Adminicle administers claims on behalf of Bankers Insurance Company Limited.

Should you wish to claim under your policy you should call the Claims Helpline on 01285 886600 as soon as possible.

Full details of how to claim are shown in section 6 of the certificate of insurance. General conditions for making a claim are shown in section 7 of the certificate of insurance.

13. The Law and language applicable to the contract

The policy is governed by English law. The language used in this policy and any communication relating to it will be English.

14. Complaints

Adminicle administers complaints on behalf of Bankers Insurance Company Limited.

If you are unhappy with any aspect of the sale of this policy or have cause for complaint you should initially contact the person who arranged the cover for you. If however, you are unhappy with the general administration and claims handling of the policy or have cause for complaint you should contact Adminicle by telephone or in writing by letter or email.

The address is:
Adminicle Limited
Callidus House
Cirencester Business Park
Cirencester
GL7 1XD

Customer Services Helpline: 01285 886600

Email: complaints@adminicle.co.uk

Adminicle will tell you what they will do to resolve your concerns and how long it will take.

Where you remain dissatisfied with their response you may refer the matter to Bankers Insurance Company Limited for a final response. If you are still dissatisfied with the resolution you receive, you have the right to ask the Financial Ombudsman Service to review your case.

If you make a complaint, your right to legal action is unaffected.

15. Compensation

Bankers Insurance Company Limited is a member of the Financial Services Compensation Scheme (FSCS). The scheme provides compensation if its members go out of business or into liquidation and are unable to meet any valid claims under its policies. Most insurance contracts are covered for 100% of the first £2,000 and 90% of the remainder of the claim. Further information on the scheme can be obtained from the FSCS.

16. Bankers Insurance Company Limited

The insurance for this policy is underwritten by Bankers Insurance Company Limited which is authorised and regulated by the Financial Services Authority (FSA) as an insurance company and, with effect from 14th January 2005 to undertake insurance mediation, under registration number 202735. You can check this on the FSA website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234.

Bankers Insurance Company Limited is registered in England No 2341082.

Registered Office: 117-119 Whitby Road, Slough, SL1 3DR.

17. What are the costs of cover?

The costs of cover are expressed as a rate per £100 of monthly benefit and include Insurance Premium Tax and are collected monthly in advance by direct debit.

18. Enquiries and assistance

This policy is arranged exclusively by Burgesses Limited who are authorised and regulated by the Financial Services Authority and members of The British Insurance Brokers’ Association (BIBA). Burgesses Limited will provide you with a quotation for the cover you require, together with all relevant product information.

The address is:
Burgesses Limited
PO Box 6164
Braintree
CM77 7ZW

Telephone: 0870 242 0015
Fax: 0870 240 3947

Email: mail@burgesses.co.uk

Once Insurers have accepted your application for cover, Adminicle will send you a schedule showing the type and level of cover selected together with a copy of the certificate of insurance.