Income Protection Plan Who are Shepherds Friendly? Established - - PowerPoint PPT Presentation
Income Protection Plan Who are Shepherds Friendly? Established in 1826 Based in Cheadle Cheshire 80m+ funds under management No need for reinsurance International Cooperative and Mutual Income Insurance Federation
▪ Established in 1826 ▪ Based in Cheadle Cheshire ▪ £80m+ funds under management ▪ No need for reinsurance ▪ International Cooperative and Mutual Insurance Federation Award – Fastest Growing Insurer UK, 8th Globally ▪ Investment Exchange Award – Best Small insurer (assets under £2 Billion) ▪ Assureweb/ Ipipeline coming soon
▪ We cover up to 70% of income to a maximum benefit of £49,000 per year ▪ Own occupation throughout for all deferral periods – Day one and 1 week now available ▪ Career breaks possible from 3 to 24 months ▪ Guaranteed insurability with up to 20% additional increase of cover for life events such as mortgage increase on moving home, birth or adoption of child, marriage and divorce ▪ We NEVER load premiums for Occupation/Smokers/Medical/BMI (max 38)
▪ Working Person Benefit / Proportional benefit ▪ House Persons Benefit - eligible to claim 50%
maximum of £1,500 per month, paid for a maximum of 12 months. ▪ 6 month linked claims ▪ Waiver of premium included ▪ Indexation option ▪ Vary the plan at any time
▪ Pays 100% of the benefit out for the life of a claim (max age 70) ▪ Continuous benefit paid until able to return to work or until termination date ▪ Claim as many times as client needs to ▪ No increase in premium from ages 16-30, then age costed reviewable premiums ▪ Maximum age at entry 60
▪ Benefits are payable to a maximum of two years for each claim ▪ Once client has reached the two year maximum period they must return to work in Own Occupation for a continuous period of at least 6 months to claim again for the same condition ▪ 6 month linked claims for the same condition, provided client has not reached the two year maximum period ▪ The benefit will be payable for “new condition claims” after the chosen deferral period ends ▪ Maximum age at entry 60
Specific Details Requested Deferred Period Restrictions
Recreational dry slope or nursery slopes, no off piste, easiest or beginner slopes only
Less than 13 weeks Standard rates
Any off piste, red or black runs or any intermediate, moderate, advanced
Less than 13 weeks Skiing exclusion
Standard rates for a deferred period of 13 weeks or greater
13 weeks or greater Standard rates Skiing and Snowboarding
▪ Never load premiums ▪ May exclude health conditions (typically reviewable, possible localised) ▪ Most occupations considered, police and teachers standard terms. Oil rig workers welcome 13 weeks deferred ▪ Deferral periods determined by risk of
▪ Access to underwriters for presales queries ▪ Maximum 24 hour underwriting timescale
▪ Low premiums – review “Total Premiums Payable” when you quote with us – this is detailed on the quote ▪ 5 star Defaqto rated ▪ No rating of premiums ▪ Perfect for the young and over 50’s ▪ No automatic dispense limits ▪ Claims paid statistics: 2017 96% 2016 97% 2015 97.6%