Rehabilitation, return to work packages and lump sum benefit for trauma included
Zurich has released details of its individual income protection policy, available on its newly launched protection platform - Life Protection Platform.
As with its critical illness policy, the product is available in two options - ‘core' and ‘select'.
Zurich's ‘core' income protection policy includes up to 80% of net earnings covered for customers unable to work through injury or illness; full rehabilitation support delivered by a specialist in-house team; early claim notification benefit (Zurich will pay customers premiums when rehabilitation support is accessed during their deferred period; return to work packages (if customers return to work on reduced hours salary is topped up for two years) and choice of full-term or two-year claim benefit option (with the ability to change between the two).
Zurich's ‘select' income protection policy offers ‘core' features plus trauma benefit where customers receive a lump sum of up to £50k on diagnosis of one of six conditions; family carer benefit of up to £1,500 for 12 months, plus other features include a hospital stay benefit of £100 per night after six consecutive nights and a funeral benefit offering six times monthly benefit or £10k.
"For Income Protection and Critical Illness, Zurich have followed others by providing a comprehensive and cost-effective proposition with their 'select' and 'core' offerings," said Adam Higgs, F&TRC adviser services head of research. "I am particularly pleased to see them tackling the short-term income protection market with a two-year benefit option. The have also added a number of added value benefits such as Trauma benefit, family care benefit, hospital stay benefit and funeral cover.
Read about Zurich's critical illness updates here.
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A fixed pay-out of £2,500