As efforts continue to save lives and protect our NHS, we’re still being encouraged to work from home where possible, and continue with social distancing measures.
Of course our thoughts and concerns are with the ones we love and everyone’s health and wellbeing. But if you have an Personal Sick Pay policy with us you may naturally be thinking about whether it could help.
LV= Personal Sick Pay is a type of income protection aimed at people who have riskier jobs - such as tradespeople, nurses and construction workers. As such, if you have this product you may not have the option of working from home at this time and could be wondering where you stand.
How long will I have to wait before making a claim?
When you took out the policy you will have chosen a ‘waiting period’. Put simply this is the amount of time you will need to be unable to work for, before you’re able to claim.
With Personal Sick Pay your ‘waiting period’ could be either of these two options:
Please note if you applied for Personal Sick Pay after 27 March 2020 then you wouldn't of been able to take out a policy with a day one or 1 week waiting period.
If you’re unsure about what your waiting period is this will be in your policy documents.
How long will it take to get payment for a claim?
At this time we know how important it is to get things sorted for you as quickly as we can.
Our claims team will deal with a claim in the most sensible way possible in terms of gathering evidence.
They’ll take into account your circumstances, the guidance you’ve been given and any other income you’re receiving
Most financial advisers have set up alternative contact details so try these first.
However if you have a query about your LV= policy application, please contact us and we’ll respond as soon as we can.
We’ll be working on this and will keep you informed along the way.
If you miss one or more payments, we’ll usually offer you a minimum grace period of 60 days to bring your premiums up-to-date (please check your policy conditions to see what grace period you have). If you can't afford to keep you policy in place you need to consider the impacts carefully.
For instance you won't be covered, or be able to make a claim if something happens. We encourage you to think about any steps you take, and give us a call so we can talk this through with you.
Criminals never sleep and they are sadly using Covid-19 as another opportunity to benefit.
If you are facing an exceptionally challenging time which means that you're financially impacted and can't pay your normal premiums, we may be able to offer you a 'payment break'.
This option is for particularly vulnerable customers that need extra support above and beyond what's included in the policy, our additional support services or member benefits. The offer of a payment break is subject to certain criteria and your individual circumstances.
To be eligible for a payment break option, you should:
If we are able to offer any payment break we'll be able to do this one month at a time and will review the situation with you on a month by month basis.
Your cover would remain in place, in full, during any payment break. And you'd be able to make a claim in the usual way, in line with the terms and conditions of your policy.
A 'payment break' option may also be available for our members who are considered vulnerable and are unable to pay premiums due to a mental or chronic physical health issue, or are coming to terms with the death of a close family member.
If you would like to explore a payment break option please contact us so we can talk to you about your circumstances and current income situation.