Full product details for the Prudential Comprehensive Income Protection Cover income protection policy, including application criteria, policy details, cover, premiums & fees, claims and exclusions.
Visit the official website...
You will be instantly transferred to the Prudential website.
This product is only available to individuals who are permanent UK residents.
Minimum Age
16 years
The minimum age at entry is 16 attained.
Maximum Age
59 years
The maximum age at entry is 59 attained. Increases can be added to existing plans for those aged 61-65 next birthday.
Maximum % of Income Covered
60%
The monthly amount to a claimant will be the benefit amount shown on the PruProtect plan subject to the following: Maximum percentage of insurable income - 60% of the first £30,000 of the annual equivalent of Earnings/Pre-Incapacity Earnings and 50% of the annual equivalent of Earnings/Pre-Incapacity Earnings in excess of £30,000, subject to the maximums below. Limit.......................Per Month.......Equivalent P.A....................Annual Equivalent of Earnings/Pre-Incapacity Earnings (p.a.) Minimum benefit.........£250....................£3,000...........................................................£5,000 Maximum benefit......£12,500...............£150,000........................................................£294,000
For employed lives, Earnings/Pre-Incapacity Earnings is defined as: - the average gross monthly earnings for PAYE purposes from the insured's own occupation in the 12 months prior to applying for the benefit/prior to the illness or injury. This includes gross salary; regular commission or bonus payments; regular overtime payments; P11D benefits in kind as long as these will be lost in the event of incapacity; and dividend income from this employment provided that these are paid directly to the insured in lieu of salary, cease in the event of incapacity and are consistent with the salary the company's trading position reasonably allows on a continuing basis.
For self-employed lives, Earnings is defined as: - the average gross monthly taxable earnings from your business less any amounts allowable as expenses against income tax and before deduction of income tax (and National Insurance Contributions).
The 'Earnings' definition will apply at application stage, while the 'Pre-Incapacity Earnings' definition will apply at claim stage if the insured is financially underwritten at that time.
If IPC is escalating due to indexation, it is possible that at some point in the future the total cover may exceed the maximum initial benefit amount; this will be allowed.
Maximum Annual Cover
£150,000
The maximum benefit for Comprehensive Income Protection Cover is £150,000 per annum (£12,500 per month). This would require pre-disability earnings of £294,000.
Minimum Annual Cover
£3,000
The minimum benefit is £250 per month or £3,000 per annum equivalent. This would require pre-disability earnings of £5,000 for Comprehensive Income Protection Cover.
Get our free money saving newsletter
Join over 480,000 other subscribers who grab our expert money tips, unmissable money guides & hottest bargains each week in our special email...
Great site - love the links and regularly use the offers
Excellent and easy to understand
Pamela
I got the answers that I was looking for, many thanks.
Vic
Easy to follow and use. Thank you. Always useful topics as well.
Derek C.
I have just joined your site and have taken on board from your tips from your free book also making full use of your reminders and am delighted with everything
George
Lots of great deals on offer.
Lisa
Very easy to understand and no jargon.
A Lesser
Great Site, good advice and offers.
Brilliant, I've taken up many Deals.
Julie
Great sensible, solid fact-based advice.
Sharon
Compare Prudential Comprehensive Income Protection Cover With These Income Protection Policies
