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Personal Sick Pay

Personal Sick Pay is our specialist income protection aimed at clients in riskier jobs who can be more expensive to insure, such as tradespeople, nurses, electricians and construction workers. You can also recommend this type of income protection to clients who find it difficult to prove how much they earn, such as the self-employed or contract workers.

Cover features

  • Personal Sick Pay £1,000 guarantee
  • Age costed premiums
  • Own occupation definition for all occupations we cover
  • ‘Day one’ cover option
  • No standard exclusions

Options

  • Your client can cover 60% of their current gross earned income
  • Level or inflation-linked cover
  • Budget option with a maximum claim period of 24 months
  • A wide choice of waiting periods
  • Guaranteed and reviewable future prices
  • Weekly or monthly claim benefit payments

Additional services

  • Access to the LV= member helpline gives 24/7 access to health advice, counselling services and expert legal advice
  • LV= Doctor Services which gives gives your clients access to six medical services via one simple app or phone call

A closer look...

Under our guarantee, your client can have up to £1,000 a month cover for the first two years of any claim, providing they can prove they normally work at least 30 hours a week and receive an income. When they claim, we won’t make any deductions if they receive employer sick pay or any other insurance. If the claim lasts longer than two years, we’ll continue paying the amount of cover your client applied for or 60% of their earnings before tax, whichever is lower.

It’s important to always recommend an appropriate amount of cover dependent on your client’s earnings. The amount you choose should normally be no more than 60% of their current or expected future earnings.

We’ve included the guarantee to help make sure your clients get what they paid for and to make it easier for you to explain how Personal Sick Pay works. It can also provide confidence to clients whose income could reduce between taking out the policy and making a future claim, like the self-employed.

Your client can use HMRC submissions, payslips/P60s, invoices, bank statements, employment contracts/letters from their employer or certified accounts as evidence of hours worked and income.

Read more on the £1,000 Personal Sick Pay Guarantee

Your client will have the same price regardless of their occupation, whether or not they smoke and how many miles they drive for work. For a copy of our Future Prices tables please speak to our support teams on 0800 678 1890.

Personal Sick Pay increases in price as clients get older, as the risk of ill health increases with age. The future prices tables let you see how much your client pay each month when they take the plan, and how the price is expected to change as they get older.

Guaranteed future prices tables - If your client's insurance has guaranteed future prices, then the price they pay in the future for each £1 of Personal Sick Pay is guaranteed to go up each year at the rate set out in the guaranteed future prices tables. If they choose guaranteed future prices tables, the insurance will cost a bit more to begin with, but they will have the certainty of knowing exactly what it will cost in the future, and LV= can’t change what is set out in the tables.

Reviewable future prices tables - If your client's insurance has reviewable future prices, then the price they pay in the future for each £1 of Personal Sick Pay is guaranteed to go up each year at the rate set out in the reviewable future prices tables for the first five years. After that, we’ll review the prices in the tables every five years and the amounts quoted in the tables could change (either by going up or down).

Download the future prices table

Your client will be covered if they can’t do their own job (providing they were working immediately before they became ill), as we think ‘own occupation’ is the fairest and easiest definition to claim on. And unlike some other specialist income protection providers, your client will keep their own occupation definition for their entire claim - not just the first year.

Personal Sick Pay includes the option for your client to choose ‘back to day one’ cover. If they choose this waiting period, we’ll pay them from the first day they stopped working (but they’ll need to be off work for three days in a row before they can claim). This option is a useful feature for clients like the self-employed who don't get employer sick pay, or those without an adequate financial safety net. Your client will also be able to choose from 1, 4, 8, 13, 26 or 52 week options.

  • Day one option for clients who don’t get employer sick pay/without an adequate financial safety net. Pays out when your client is off work for three days in a row
  • 1, 4, 8, 13, 26, or 52 week options also available

As you’d expect from LV=, we have no standard exclusions. It's simple and straightforward for you to explain, with no nasty surprises if your client makes a claim.

All of our features are covered in full in our policy documentation.

Read below a summary of the relevant product information about Personal Sick Pay, in accordance with the Insurance Distribution Directive. Designed to help you make an informed decision and comparison for your client, we set out the product’s target market, distribution strategy, suitability, main features, risks, options and costs.

This information is also available in downloadable pdf format.

Waiver of Premium can be added as a separate policy. Read about our Waiver of Premium product profile.

This is only a summary of the product features. For more information please read the Policy Summary and Policy Conditions

This product is for employed or self-employed clients who need a monthly or weekly benefit to help replace some of their income if they were unable to work due to an accident or long-term sickness. It can be used to help support their and /or their family’s current lifestyle and financial commitments.

It is aimed at clients in riskier jobs who can be more expensive to insure, such as tradespeople and nurses.

The product offers a choice of waiting periods to reflect the financial needs and circumstances of your client.

The product covers your client for up to 60% of their income if they’re unable to work due to accident or sickness. You can also recommend this type of income protection to clients who find it difficult to prove how much they earn, such as the self-employed or contract workers. It also includes a number of unique features especially for people working in these types of occupations.

We offer two versions of our Personal Sick Pay policy, our standard policy and our lower cost budget policy.

Under standard Personal Sick Pay, they’ll be covered until they’re able to return to work, or their policy ends (whichever is soonest). They can make as many claims as they need to during the policy term (even for the same illness or injury), providing they’ve been back at work for at least six months between claims.

They can make as many claims as they need to during the policy term. If the claim is for the same illness or injury and within 6 months of returning to work, we may be able to start your client’s income protection payments again straight away, without having to wait for their waiting period. If your client is unable to work because of a different reason, we will treat it as a new claim and they will need to wait for their waiting period to end before the payments start.

Budget Personal Sick Pay works in exactly the same way as our standard policy with just one difference, we’ll only pay your client for a maximum of 24 months for a single claim.

As with our standard Personal Sick Pay your client can make multiple claims if they need to. If the claim is for the same illness or injury and within 6 months of returning to work, we may be able to start your client’s income protection payments again straight away, without having to wait for the waiting period as long as they haven’t reach the maximum claim limit. If your client is unable to work because of a different reason, we will treat it as a new claim and they will need to wait for their waiting period to end before the payments start.

Personal Sick Pay has age-costed premiums. The cover is worked out on a cost per £1,000 of cover basis, and the amount your client pays each month increases over the term of the policy as they get older.

For clients in more traditional less risky occupations such as office workers our FPP Income Protection policy may be more suitable.

To ensure your clients receive the right level of protection and to reduce the risk of the policy not paying out due to non-disclosure, we believe this product should only be sold on an advised basis, face to face or over the phone.

It’s important to regularly review your client’s circumstances and protection needs to make sure their cover is appropriate and they are not paying for cover that they can’t claim on.

  • Pays a regular income benefit in the event the client is unable to work because of accident or sickness
  • Choice of weekly or monthly benefit
  • Own occupation definition of disability
  • Benefits paid until return to work or the policy ends, whichever is the earlier. Benefits limited to a maximum of two years per claim under the Budget option
  • Level or inflation-linked cover
  • Automatically includes the Personal Sick Pay Guarantee
  • Guaranteed or reviewable age-costed premiums
  • Waiver of Premium option
  • We won't pay a claim if your client becomes unemployed or is made redundant
  • The policy won’t pay out if the client is ill but continues to work
  • We won’t pay out in the event of a normal pregnancy
  • There is no cash in value at any time
  • If your client stops paying their premiums, their cover may cease
  • If your client chooses level cover, it won't keep up with inflation and could buy less in the future
  • Benefits paid at claim may reduce any state benefits your client might be entitled to
  • The minimum term is 5 years. The policy must end before the insured person reaches the age of 70
  • Clients can choose to take out a policy on a single life basis, on themselves or on a life of another
  • Clients can insure up to 60% of their earnings, subject to a minimum amount of cover of £6,000 a year (£500 a month) and a maximum of £100,000 a year (£8,333 a month)
  • A choice of waiting periods
    - Day one option covers your client from first day they become too ill to work. However your client will need to be unable to work for at least 3 days in a row before they can claim.
    - Your client can also choose from 1, 4, 8, 13, 26 or 52 week options and will need to be unwell for an appropriate number of weeks before they can claim.
  • Any claim lasts until the earlier of the policy end date, your client dies or gets better
  • Under the budget version, the maximum claim period per claim is two years
  • Under reviewable age-costed premiums, the price in the future for each £1 of Personal Sick Pay is guaranteed to go up each year at the rate set out in the Reviewable Future Price table for the first 5 years. After that we’ll review the prices in the table every 5 years and the amounts quoted in the table could change (either up or down) every 5 years.
  • If your client is insuring someone else an insurable interest must exist at the start of the policy. A spouse or civil partner is automatically assumed to have an insurable interest.

To apply your client must be:

  • Permanently living in the UK
  • A UK resident for at least the last 2 years
  • Aged between 17 and 59
  • Registered with a UK doctor for at least the last 2 years
  • Employed, or self-employed. Cover isn’t available for homemakers, and if your client is claiming job seekers allowance when applying for the policy they will be considered unemployed and won’t be eligible for Personal Sick Pay.

Is suitable for:

  • Protecting up to 60% of gross income (assessed at point of claim), if your client becomes unable to work due to illness or accident
  • Those whose need for cover expires before they reach age 70 as this is the maximum age at which the policy can end
  • Clients who need cover for at least 5 years, as this is the minimum term for this policy
  • Providing a guarantee to pay up to the first £1,000 of cover without any deductions, as long as your client is working at least 30 hours a week and in receipt of an income. Please note this only applies for the first two years of any claim, after that we’ll ask for evidence of income and the maximum cover is 60% of your clients gross income (assessed at the point of claim)
  • Those whose current level of income means state benefits alone would not provide a suitable level of replacement income for them
  • Clients who have an occupation covered by the policy
  • Clients where a waiting period of 1, 4, 8, 13, 26 or 52 weeks would be appropriate for their needs. We also offer a day 1 option for clients who need their money sooner
  • Clients who wouldn’t qualify for state benefits, or wouldn’t want to rely on them for replacement income
  • Insuring someone else, where insurable interest exists

Is not suitable for:

  • Clients who already have sufficient other forms of accident and sickness insurance in place that pay a monthly benefit if unable to work due to accident or sickness. For example mortgage protection, insurance or credit card protection that mean additional protection against loss of income is not needed. This is because we deduct amounts equal to the payments from other insurances that the client has when we pay their claim.
  • Clients who don't need to protect their income, if they’re unable to work due to accident or sickness as they have savings which they’re prepared to use if they suffered a loss of income (referred to as self-insuring)
  • Clients looking to protect against unemployment, as this policy only protects for loss of income if they’re unable to work because of sickness or an accident
  • Clients who’ve already retired
  • Clients whose current level of income means they are able to rely on state benefits to meet any income shortfall (and are willing to rely on state benefit payments to provide income replacement)
  • Those looking to protect against terminal or critical illness with a lump sum payout
  • Businesses wanting to provide income protection for a key employee if they’re unable to work due to accident or sickness. This is because any benefits which are paid to the employee by their employer would have to be paid under PAYE, meaning the employee would receive significantly less than 60% of their income. There are other more suitable products in the market to protect a key person’s income.

Personal Sick Pay Guarantee: For insurance of up to £1,000 a month, where your client is receiving an income and normally working at least 30 hours a week, we will pay your client either £1000 a month or the amount of cover, whichever is lower. The Guarantee is automatically included at no added cost, and conditions apply. For more details, refer to the Policy Terms and Conditions.

Back to work support: We want to help your client with their recovery and return to work and can sometimes offer your client access to specialist services. For example: physiotherapy, counselling or other specialist treatment, rehabilitation services or financial support. The maximum we can pay for each claim is one month’s insurance payment. If your client makes a claim our team will look at their individual situation to see if there is anything they can do to help – all services offered are at our discretion.

Member benefits: With this policy your client automatically becomes a member and is entitled to a range of benefits, at no added cost. These include voting rights, free advice helplines and discounts on selected LV= products. These benefits are non-contractual and can be changed or removed at any time, and conditions apply. More details about LV= membership and member benefits are available at LV.com/members.

LV= Doctor Services: All new policyholders have access to a number of app-based medical services and advice, at no added cost. These include virtual GP consultations, prescription and second opinion services. These benefits are non-contractual and can be changed or removed at any time, and conditions apply.

Waiver of Premium: Your client can add Waiver of Premium when they take out their policy, or once it is in place. We set this up as a separate policy and an additional cost. For more details, refer to the Waiver of Premium Product Profile and Waiver of Premium Policy Terms and Conditions.

The policy premium also includes a fee, which is a fixed monthly amount, to cover administration and support costs.

LV= Dr Services is provided by Square Health Limited. This Service is not regulated by the Financial Conduct Authority or Prudential Regulation Authority.

Read below a summary of the relevant product information about LV= FPP Waiver of Premium, in accordance with the Insurance Distribution Directive. Designed to help you make an informed decision and comparison for your client, we set out the product’s target market, distribution strategy, suitability, main features, risks, options and costs.

The waiver of premium product profile is also available in downloadable pdf format.

This is only a summary of the product features. For more information please read the Policy Summary and Policy Conditions.

Waiver of Premium forms part of the Flexible Protection Plan and is designed to pay the premiums for all policies (with the exception of Relevant Life Cover) under their plan, if the person insured is unable to work due to accident or sickness for longer than the waiting period.

The waiting period for this product is set at six months, unless it includes Income Protection or Personal Sick Pay, where the waiting period will match the one chosen for that product.

Waiver of premium is suitable for a client who would suffer a drop in their income, and as such would potentially be unable to pay for the premiums in their Flexible Protection Plan if they were unable to work due to sickness or an accident. The target market varies for each of the products within the Flexible Protection Plan, so it is recommended to refer to the specific products for further information.

Waiver of Premium cannot be set up as a standalone policy.

To ensure your client receives the right level of protection, we believe this product should be sold on an advised basis, face to face or over the phone.

It’s important to regularly review your client’s circumstances and protection needs to make sure their cover is appropriate.

  1. Pays FPP plan premiums on policyholder's behalf if they're unable to work due to sickness or accident
  2. Based on own 'occupation cover', or 'homemaker cover' definition
  3. Once the person insured reaches 70, regardless of how they were being measured, the basis changes to work tasks measures. This means they are totally unable to carry out 3 or more tasks from a list of everyday activities.
  4. Standard waiting period of 6 months. Except where Waiver of Premium is attached to an LV= FPP Income Protection or Personal Sick Pay policy. In which case, the Waiver of Premium policy will adopt the waiting period the client has chosen for IP/PSP.
  1. The product does not pay out an actual cash amount, instead the client's FPP premiums are waived
  1. There is no cash in value at any time
  2. If your client stops paying their premiums, their cover may cease
  • The minimum term is 5 years. It will end once all of the policies included in the Flexible Protection Plan have ended, or if earlier once the person insured reaches age 85.
  • Clients can choose to take out a policy on a single or joint life basis
  • On a joint life basis, the policy will only waive the premiums for the FPP plan once, if either of the people insured are unable to work.
  • If your client is insuring someone else an insurable interest must exist at the start of the policy. A spouse or civil partner is automatically assumed to have an insurable interest.
  • The cover will be the total premium your client pays for all of the policies included in the Flexible Protection Plan
  • The cover will automatically go up if any of the policies with inflation-linked cover are included in the plan
  • If any new policies are taken out or existing policies are altered, we will normally extend Waiver of Premium to cover the new plan premium

To apply clients must be:

  1. Permanently living in the UK
  2. Aged between 17 and 59
  3. If they are insuring someone else, they must meet these requirements. If they are insuring two people both must meet these requirements.

There are no options or additional benefits.

Features

Personal Sick Pay

Budget Personal Sick Pay

Optional Waiver of Premium

Type of pay-out

Either weekly or monthly

Either weekly or monthly

Pays the plan premiums monthly after a waiting period

Premium

Guaranteed or reviewable and age-costed (price goes up with age)

Guaranteed or reviewable and age-costed (price goes up with age)

N/A

Level/inflation linked

Either

Either

Age 69 or the end of the plan term if earlier

Term

Between five years and the maximum age

Between five years and the maximum age

Age 69 or the end of the plan term if earlier

Minimum age at entry (next birthday)

17

17

17

Maximum age at entry (next birthday)

59

59

59

Maximum age at expiry (next birthday)

70

70

70

Minimum premium

£5 a month

£5 a month

based on the total plan premium

Maximum claim period

Lasts until the earlier of:

  • your client gets better
  • the policy end date
  • your client dies

Lasts until the earlier of:

  • 24 months per claim
  • your client gets better
  • the policy end date
  • your client dies

Lasts until the earlier of:

  • your client gets better
  • the policy end date
  • your client dies

Waiting period

Day 1 (back to day one) and 1, 4, 8, 13, 26, 52 week options

Day 1 (back to day one) and 1, 4, 8, 13, 26, 52 week options

This will match the waiting period selected for Personal Sick Pay / Budget Personal Sick Pay. Minimum waiting period for waiver is 1 month (4 weeks), max is 6 months (26 weeks.)

Eligibility criteria

A permanent UK resident and have lived in the UK and have been registered with a UK GP for the last two years. Employed or self-employed.

A permanent UK resident and have lived in the UK and have been registered with a UK GP for the last two years. Employed or self-employed.

Your client must be a permanent UK resident

Extras
(included as part of the contract)

  • Career break option
  • Back to work support
  • £1,000 guarantee
  • Career break option
  • Back to work support
  • £1,000 guarantee

N/A

How Personal Sick Pay compares to our traditional Income Protection

Personal Sick Pay is a specialist type of income protection designed for people in riskier occupations. It’s often more affordable than traditional income protection products, as the price increases with age to reflect the increased risk of ill health as we get older.

Below are some example case studies of how Personal Sick Pay compares to Income Protection for clients in a manual job.

Client scenario Personal Sick Pay
icon image of a man

Electrician

John’s client, Karl, is a 25-year-old electrician, who smokes, and who wants to protect his income against accident and sickness. Karl wants to insure £1,500 a month, up to age 60 and has enough savings for four weeks if he stopped earning. He also wants to make sure his insurance keeps up with inflation. John gets two quotes from LV=.

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green tick icon

Index-linked Personal Sick Pay with guaranteed future prices which is £41.72 per month (at age 25)

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  • Karl is happy to accept the lower initial amount
red arrow icon
cross icon red

Index-linked Income Protection with guaranteed premiums, to age 60 which is £87.89* per month

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  • Karl can’t afford £87.89*

John knows Karl can’t afford £87.89* so recommends Personal Sick Pay, and explains the fact the price will increase in the future. Karl is happy to accept for the lower initial amount, and also feels he’ll still be able to afford it in the future (after John showed him the pricing table).

*Correct as of April 2019. These quotes include waiver of premium.


Client scenario Personal Sick Pay
icon image of a woman

Scaffolder

Claire’s client, Sam, is a 30-year-old scaffolder and wants to take out income protection and has enough savings to last a month if she can’t work. Claire knows a scaffolder is traditionally a risky occupation (and a standard income protection policy would cost in excess of £160 a month), so gets a quote for Personal Sick Pay from LV=. The quote is for £1,000 a month, guaranteed future prices table to age 60. The quote is £25.75** at age 30.

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  • Claire recommends Personal Sick Pay, but Sam is worried because the price increases with age, it will be too expensive in the future.

Claire uses the future prices table to show Sam what the price will increase to:

Age 30

Age 35

Age 40

Age 45

Age 50

Age 55

£25.75

£31.68

£44.88

£61.53

£84.66

£108.38

Sam feels she’ll be able to afford the price in the future, and takes out Personal Sick Pay.

**Correct as of April 2019. These quotes exclude optional waiver of premium cover.


Client scenario Budget Personal Sick Pay
icon image of a woman

Nurse

Claire is a 28-year-old nurse and wants to protect £1,000 a month. She chooses a one week waiting period, guaranteed future prices which will keep up with inflation and for her cover to end at 65. Here’s how the prices stack up:

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green tick icon

Budget Personal Sick Pay

£28.87* at age 28

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  • Saving of 31%
red arrow icon
cross icon red

Personal Sick Pay

£41.44* at age 28

*Correct as of April 2019. These quotes exclude optional waiver of premium cover.


icon image of a man

Taxi driver

Tom is a 45-year-old taxi driver and wants to protect £1,500 a month. He chooses a four week waiting period, guaranteed future prices which will keep up with inflation and for his cover to end at 65. Here’s the difference in price:

green arrow icon
green tick icon

Budget Personal Sick Pay

£40.01* at age 45

green arrow icon
  • Saving of 58%
red arrow icon
cross icon red

Personal Sick Pay

£95.11* at age 45

*Correct as of April 2019. These quotes exclude optional waiver of premium cover.


Example

Day one

1 week

4 weeks

8 weeks

13 weeks

Mark is 30-year-old self-employed electrician and wants to protect £1,000 a month with Personal Sick Pay. He chooses guaranteed future prices and for his cover to end at age 65. These examples show how a longer waiting period can reduce the cost (based on our current rates for a 30-year-old).

£34.97

£28.78

£15.17

£14.27

£10.88

(Based on budget personal sick pay for a 30-year-old. Rates correct as of April 2019).

Example

Guaranteed future prices

Reviewable future prices

Bob is a 40-year-old builder and wants to protect £1,500 a month. He chooses a 1 week waiting period and for his cover to keep up with inflation. Bob wants to insure his income until age 60. Here’s an example of the differences between guaranteed and reviewable future prices at age 40.

£49.34

£46.38

(based on budget personal sick pay for a 40-year-old. Rates correct as of April 2019).

We hope you find these ideas, guides and tools useful. If you have any feedback, please email us or speak to your LV= account manager.

Great reasons to choose LV= for Personal Sick Pay

Award winning

Award winning

Although we’re proud of our income protection product range, we were thoroughly delighted to scoop these prestigious awards back in 2017. It was a hat trick for LV= Income Protection – as we won all three industry awards.

This year we’re delighted to add Moneyfacts’ Best income protection provider for the ninth year running, to our collection.

Being recognised as the best provider with the best income protection, we would like to thank you for your support. And of course, this also gives you another reason to recommend LV= to yours clients!

Moneyfacts and Cover Excellence Awards Winner
Health Insurance Awards Winner
Strong claims performance

Strong claims performance

Making sure your client has a successful claim is as important to your client as it is to you. Your clients get vital financial help when they need it most and you feel confident in the provider you recommended.

We’re proud of our performance with over £3.4m total claim value paid for Personal Sick pay, and an average monthly benefit of £872 paid in 2018.

Better underwriting

We know advisers are not usually medical experts so we help out as much as we can. This means you can concentrate on providing the best financial advice for your client.

  • We have no standard exclusions on our income protection plans making it straightforward to explain to your client.
  • Our online application system is powered by a strong, intelligent underwriting rules engine which means that you're more likely to get an instant decision.
  • We have flexible medical examination arrangements. If your client needs a medical examination, we could send a nurse to visit them at home or work or use a medical examiner at a convenient location.
  • We pay for medical underwriting (except medical certificates such as sick notes).
  • We have a dedicated underwriting hotline to help you iron out any potential issues your client may have.
Value add services

LV= Doctors services

LV= Doctor Services gives your clients access to six medical services via one simple app or phone call.

  • Remote GP
  • Prescription Services
  • Second Opinion
  • Remote Physiotherapy
  • Remote Psychological Services
  • Discount health MOTs

More on LV= Doctors Services


Member benefits

Every client who is covered by one of our personal or business protection and retirement products automatically becomes a member of LV=. This means they are entitled to a range of added benefits and support. These include free and unlimited access to our 24/7 confidential member helpline and discounts on a number of LV= insurance products.

Our LV= member helpline gives you 24/7 access to health advice, counselling services and expert legal advice.

State benefits

Current benefits- tax year 2019-20

Benefit

Amount per week

How long

Are my self-employed clients entitled to it?

Statutory Sick Pay

£94.25

Up to 28 weeks

Green tick

Clients in permanent employment

Red cross

Self-employed

Employment Support Allowance: Assessment rate

£57.90 under age 25

£73.10 aged 25 or over

Up to 13 weeks

Green tick

Clients in permanent employment

Green tick

Self-employed

Employment Support Allowance: Work-related activity group

Up to £73.10

Higher amounts were payable for applications made before 3 April 2017

Up to 52 weeks

Green tick

Clients in permanent employment

Green tick

Self-employed

Employment Support Allowance: Support group

£96.45 for under age 25

£111.65 for age 25 and over

n/a

Green tick

Clients in permanent employment

Green tick

Self-employed

  • Statutory Sick Pay - If your client's unable to work due to illness or injury and isn't entitled to sick pay from their employer, they might be able to get Statutory Sick Pay. This is paid for a maximum of 28 weeks; after 28 weeks, they may then be awarded Employment & Support Allowance. It’s also worth remembering self-employed clients aren’t entitled to Statutory Sick Pay.
  • Employment & Support Allowance - Employment and Support Allowance is not paid alongside SSP and is awarded to those unable to work due to illness or disability. During the first 13-week assessment phase, the state determines whether your client's illness or injury affects their ability to work. Claimants may then be awarded a higher rate of ESA which is regularly reassessed.

The amount they get depends on their circumstances. Try our online Shortfall Calculator to see how much they might get, and show how much their salary might drop if they were unable to work because of sickness or an accident.

Suitability wording

We’ve produced a range of template paragraphs that are designed to describe generic features of each type of policy, as well as the specific benefits of our own products. You can use and adapt these paragraphs to help construct your own Suitability Letters.

 

A good suitability letter is:

  • your opportunity to justify and reinforce the reasons for your advice and recommendations
  • an excellent opportunity to document unmet and future needs and the importance of ongoing review discussions
  • your record of the discussions held and the recommendations made/not made and why

It should be clear, fair and not misleading. It should be personal, explain the reasons why a recommendation has been made and how it meets the customers needs and objectives. It should highlight any risks involved.

LV= has taken care to ensure the accuracy of the information at the time of issue but does not accept liability resulting from your use of it.

Calculators

Choice calculators to support your discussions

Calculator

Personal Sick Pay Calculator

Show your client how little they'll have to live on if they were to be unable to work.

Screenshot of the Risk Reality calculator

Risk Reality Calculator

Online tool to help your clients grasp the importance of financial protection

Underwriting support

Pre-underwriting helpline

Go straight through to our underwriters who can quickly answer questions like exclusions or loading.

Email: [email protected]
Call: 0800 678 1893
8:30am to 6:30pm Monday to Friday
TextDirect: first dial 18001

Tele-interview service

Our underwriters may need more information on either a particular area, or simply in relation to the amount of cover applied for.

Our team of friendly, fully trained UK based tele-interviewers, will call your client to gather details of their health and medical history so we can assess their application. This usually takes between 20-30 mins.

You can read our Tele-interview guide to help prepare for ain interview.

Tele-interview booking service

You or your client can book a tele-interview appointment with us directly online within 30 mins, without having to contact our new business team.

  1. It's usable as soon as you have the policy number.
  2. It shows all of the appointments available.
  3. You can book appointments as early as an hour after submission or up to seven days in advance.
Pre-underwriting tool

What is it?

Our Pre-Underwriting Tool, part of Fastway, allows you to enter illnesses and conditions (disclosures) giving instant, indicative underwriting decisions at any time.

Where to find the tool

  1. Log into Fastway
  2. Choose "New Pre-UW Enquiry" at the top of the page
  3. Refer back to the decision by accessing the record’s unique ID in your Fastway dashboard
Underwriting and financial limits (monthly amount of cover)

Age next birthday

TI*

PSR**

Cotinine***

ME

BIOCHEM

PROF

HbA1c

GPR

HIV

To age 41

£2,521

£4,338

£4,338

£6,504

£6,504

N/A

N/A

£12,501

£10,001

42-46

£2,171

£3,254

£3,254

£4,338

£4,338

N/A

N/A

£12,501

£10,001

47-51

£1,738

£2,171

£2,171

£3,254

£3,254

N/A

N/A

£12,501

£10,001

52-56

£1,304

£1,521

£1,521

£2,171

N/A

£2,171

£2,171

£12,501

£10,001

57-60

£871

£1,088

£1,088

£1,521

N/A

£1,521

£1,521

£12,501

£10,001

* TI not required if PSR or ME or GPR required. ** PSR not required if ME required. *** Cotinine required on non-smokers only.

Make a claim

Making a claim on behalf of your client

You can contact us in the following ways to notify us that your client wishes to make a claim;

  1. phone: 0800 756 5869
  2. email: [email protected]
  3. post: LV= Health Claims Team, Emperor House, Grenadier Road, Exeter Business Park, Exeter, EX1 3LH

The information we need

For most claims, we’ll send your client a claim form. This should be completed, and include the name and contact details of your client's GP or medical specialist, as well as any supporting medical or financial evidence requested in the claim form. We may also ask for:

  • Basic details of the reason your client is unable to work.
  • Financial evidence as detailed in the claim form.

Paying the claim

  1. We’ll keep your client (and you) informed throughout the claim.
  2. We'll contact your clients GP or medical specialist directly to follow up on any outstanding requests for medical evidence.
  3. We’ll let your client know if there’s anything they can do to speed up their claim payment.
  4. We’ll normally pay the claim within 48 hours of receiving all the required evidence and making a final decision.
  5. We offer your client free access to a medical second opinion from one of the UK’s biggest networks of medical professionals through LV=’s partner Square Health.
Claims performance

Here at LV=, we offer a clear and fair approach to paying claims, as we believe anyone can be affected by long-term illness – regardless of age or lifestyle. Take a look at our full 2018 claims performance.

Protection summary 2018

Personal Sick Pay

Total value of claims paid

£3.5m

Average monthly benefit/payment

£872

Highest monthly benefit/payment

£4,000

Policy in force duration

1 yr 11 mths

Ave. age customer at claim

Personal Sick Pay

Male icon

Male

37

Female icon

Female

38

An icon of a man and lady

Youngest customer

19

Telephone icon

Contact us about Personal Sick Pay

Quotes and questions: 0800 678 1890

Connect with us

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FOR UK FINANCIAL ADVISERS ONLY
LV=, County Gates, Bournemouth, BH1 2NF, UK