Disability income protection
INSURANCE AGE - 1ST JUNE 2004
Product:
Sickpayplus
Underwriter:
Lloyd’s
Commission paid:
20%
Coverage:
75% of gross monthly income for a maximum of 24 months
Minimum Premium:
£5 per month
Excess:
30 days
Contact:
Simon Burgess, Burgesses
Key benefits:
• Highly competitive premiums, payable monthly by direct debit
• Customers can select up to £2,500 per month of benefit
• Excess period only 30 days
• Benefits payable for either 12 or 24 months
• Tax-free benefits
• No premium loading on the basis of age, gender, occupation or smoking habits.
Comments:
Iain Chalmers, sales director at Citybond Travel Insurance, says: “What a great product, offering peace of mind during what can be the stressful time of ill-health. Sickpayplus offers competitive premiums, flexible cover and is available for preview or purchase on the internet. Well-presented and easy-to-read – with the policy accredited with the ‘Crystal’ mark by the Plain English Campaign – Sickpayplus is simple to understand and provides all-round value for money.”
Phil Warman of Livingstones Warman Insurance Brokers, writes: “Another excellent product from Burgesses. This policy is the way that this class of business should be underwritten, with no discrimination for age, gender or occupation (or even for high-risk trades, which are normally very expensive); the product will suit 99.9% of individuals in the UK. Also, the possibility of being able to calculate and buy online cuts administration costs dramatically, and will make you seem as efficient as the direct markets.
“At last we have access to a product that will wipe the smiles off of the faces of the rest of the protection market – my agency application is in the post!”
Overall rating:
5 - Excellent
