Glossary

If you have a long-term claim period, the payment of benefit is until your contract ends. If you have a short-term claim period, the payment of benefit is limited to two years per claim.

This is the date your contract will cease.

This is the start date of your contract.

This is the amount you have to pay for your Health & Wealth contract.

If you have chosen a 1, 4, 8, 13, 26 or 52 week deferred period, you can add Day One Accident Protection. For an additional premium, you can protect yourself against lost earnings as a result of an accident from Day One, even though your benefit payments for illness would start from your chosen deferred period.

This is the amount of time you have to be signed off work due to illness or injury before benefit payments start to be made. For claims where the contract qualifying conditions are met, benefit will be paid following the chosen deferred period.

This benefit provides a lump sum payment of £1,500 in the event you suffer a fracture to any one of our ‘listed’ bones. This benefit will be paid irrespective of whether or not you are in receipt of income protection benefit.

This benefit provides a payment of £50 per night, following three consecutive nights in a UK hospital, backdated to the first night’s stay. This benefit will be paid irrespective of whether or not you are in receipt of income protection benefit.

A lump sum of £7,500 payable on death with cover ceasing on your 70th birthday, or your contract end date.

If you add the Indexation option, your cover will be automatically reviewed annually against the Office of National Statistics Consumer Price Index (CPI).

This is the maximum amount of benefit you can claim. It is not a guaranteed amount and will be dependent on your evidenced earnings at point of claim. If you have elected for a short-term claim period, then the payment of benefit is limited to two years per claim.

This is the amount you have to pay per month for your income protection contract.

A guaranteed level premium is where your monthly payment will remain the same throughout the term of your contract. A guaranteed annual escalating premium will increase your monthly payment each year.

This is the age at which you originally confirmed you would retire from your occupation.

If you have chosen a 1, 4, 8, 13, 26, or 52 week deferred period, you can add Severe Injury Cover. If you have to stop working because of one of our ‘listed’ injuries, and as a result your earnings go down, you can claim benefit that will be paid from the first day you are signed off work, subject to at least four consecutive days off work.

A share is a unit allocated by the Society on which contributions and benefits are based.