AEGON Personal Protection

Full product details for the AEGON Personal Protection income protection policy, including application criteria, policy details, cover, premiums & fees, claims and exclusions.

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AEGON Personal Protection Features & Benefits

Cover Type	income
Minimum Age	18 years
Maximum Age	59 years
Maximum % of Income Covered	55%
Maximum Annual Cover	£130,000
Minimum Monthly Premium	£5
Redundancy Cover	no
Hospitalisation Cover	no
Rehabilitation Cover	yes
Guaranteed Premiums	level
Number of Exclusions	4

Application Criteria
Permanent UK Resident	yes	This product is only available to individuals who are permanent UK residents.
Minimum Age	18 years	The minimum age at entry is 18 attained.
Maximum Age	59 years	The maximum age at entry 59 attained.
Maximum % of Income Covered	55%	The maximum percentage of income which can be insured is 55%. How much benefit can be paid? When choosing the amount of benefit the policyholder needs, it should be remembered that the maximum AEGON can provide is 55% of the policyholder's total income based upon his/her pre-incapacity earnings, subject to a maximum benefit amount of £130,000 a year. This is because tax and National Insurance are deducted from normal earnings but not from the benefits paid out. By total income, AEGON mean income that will be lost in the event of incapacity, so this could include: - gross salary - dividends - commission (as part of normal remuneration) - overtime (as long as the policyholder can prove that this has formed part of his/her normal remuneration over the last three years) - P11D benefits which will be lost in the event of incapacity. If the policyholder is employed, his/her pre-incapacity earned income is their gross taxable earnings (including those listed above) averaged over the last 12 months before the incapacity. If the policyholder is self-employed, his/her pre-incapacity earned income is the net profit from their occupation, averaged over the last three years before the incapacity, as assessed for income tax and as shown on an agreed notice of assessment provided by the Inland Revenue. Income for a company director of their own business, who is also a shareholder, means the salary received and dividends received from the profit generated in the 12 months before a claim. Benefits will be paid on a calendar month basis only. They will be payable monthly in arrears from the end of the deferred period. A pro rata benefit payment will be made for part months at the end of a claim.
Maximum Annual Cover	£130,000	The maximum benefit is £130,000 per annum, or 55% of the total earnings of the insured.
Minimum Annual Cover	£1	There is no minimum benefit amount.

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