We're here to pay claims, not wriggle out of them. Read about what you or your family need to do in the event of an income protection claim.
We need to confirm the date of birth of the person insured to make sure that he or she has been paying the correct premiums.
We'll send out a claim form, and will begin the initial assessment of the claim, but if you have payments outstanding we 'll need these to be paid before we'll pay the claim. If you don't we may not be able to pay the claim in full. Once any outstanding premiums are paid, the payments must continue unless we tell you otherwise.
We do our best to respond to any enquiries as quickly as possible. But depending on the type of your enquiry it may take us up to five days to get back to you.
Typically P60s, self-assessment forms and/or business accounts.
Yes, depending on the type of cover you have, we may be able to make partial payments based on the hours that you work and the loss in your income.
If you have non-taxable income then it won't count as part of your pre-disability income. You won't get benefit payments in respects of such monies. We don't deduct this income if it continues whilst you are off sick.
No. Income Protection policies will only cover you when you are unable to work as a result of sickness or an accident. To claim for unemployment, you have to have a specific unemployment policy.
Claims paid from this plan won't be subject to either Income Tax or Capital Gains Tax.
Tax treatment depends on your personal circumstances. This is based on our understanding of current legislation and HM Revenue & Customs practice, which can change.
We’ll pay your claim if, following the waiting period, because of sickness or accident, you’re unable to work. We use different measures to determine whether you're unable to work, and these are explained in section A of the policy conditions. The benefit is paid monthly in arrears.
We wish we could pay out 100% of claims, but there are cases when we’re unable to make payment. If we didn’t operate a responsible policy in paying out claims, the cost of cover for everyone else would become prohibitively expensive. Rest assured that we judge all claims on a case by case basis.
We're here to pay claims, not wriggle out of them. In 2012, we paid out £12.6m in income protection claims, which represented 88% of the total income protection claims we received.*
(* Source: Income Protection Claims Performance 2012)
In 2012, the most common cause of illness claims was musculo-skeletal disorders (20%), followed by Mental Illness (19%) and cancers (18%). The other 43% included accidents, nervous system disorders, strokes, heart attack and other illnesses.*
(*Source: Income Protection Claims Performance 2012)
We didn't pay 6.2% of claims because there was non-disclosure (we weren't given accurate information by the policyholder when they took the policy) and 5.4% where the claim didn't meet the definition of a claim under our policy*
(*Source: Income Protection Claims Performance 2012).
We won't pay a claim if we find out that it's fraudulent. For example, the insured person's illness isn't real or it has been deliberately exaggerated.
We may not pay out or may reduce the amount we pay if you don’t tell us relevant information about your health or lifestyle, or don’t tell us about a significant change in your circumstances between when you apply for your policy and when it starts. For example, you haven’t told us on your application form that you’re already being treated for a particular disease. If you completed the application form truthfully and accurately then you won't have any problems. If you would like a copy of your application form then please ask.
In most cases your cover will stop and your policy will be cancelled if you stop paying your premiums for your policy.
We won’t pay out if the term of your policy has finished or you’ve cancelled the policy. For example, if you took out a policy to cover the length of your mortgage and you become ill after the term has finished, you won’t be able to claim.
Any reference we make to taxation is based on our understanding of current legislation and HM Revenue & Customs practice, which can change.
You can phone us
Call our UK-based advisers for more information or a quote:
0800 756 8523
Quoting offer code IELO
Textphone: 18001 0800 756 8523
9am - 8pm Monday to Thursday
9am - 5pm on Friday
We may record and / or monitor calls for training and audit purposes.
We offer advice on LV= products only