Pays your premium if you’re unable to work due to illness or injury
Waiver of Premium benefit typically applies if you’re unable to work due to incapacity. It’s only set up as an additional benefit on life and pension products – your policy schedule and terms and conditions will tell you if you have this benefit, and how you become eligible for it.
When the benefit is applied, your premiums are waived once a pre-agreed period after you became incapacitated has passed - this is called a deferred period. This is normally four weeks, 13 weeks or 26 weeks from the date of your incapacity.
The benefit will continue until you no longer meet the definition of incapacity, the benefit cease date or earlier death
When you contact us, you’ll need to let us know:
- Policy number
- The reason you've been unable to work
- How long you've been unable to work
- Details of your occupation
Make sure you have these to hand if you call, or include in your letter if you write. If you call we’ll try to speed up the process by getting as much information as we can from you, so you may be on the phone for 15 minutes or more.
What happens next?
After you’ve contacted us we’ll issue a claim form which you’ll need to complete and return, along with any supporting documentation - our claims team will be happy to help you if you’re unsure of anything.
We’ll then contact your GP/Specialist to get the necessary medical information to support your claim. If you have any letters or correspondence from your hospital or GP relating to your illness, please send these in as we may be able to pay your claim quicker.
We’ll keep you updated throughout the process and let you know if we require more information.
Once all the information is received we’ll complete our assessment and notify you of the outcome. If we decide that the benefit should be applied, we’ll stop taking your insurance premiums and refund any that you’ve overpaid.
Whilst your premiums are being waived we’ll conduct regular reviews of your claim to confirm it’s still valid.
While you’re waiting for the claim to be settled you should continue to pay your premiums. You should also let your doctor/s know that we may be writing to them, as this may speed up their response.
The Shaw Trust - Support for disabled and disadvantaged individuals
MIND - the mental health charity
Gov.UK - information about Employment and Support Allowance.
Gov.UK - information about driving with a disability
Disability Rights UK - helping disabled people participate.
The Samaritans – round the clock telephone support for people in need
NHS Choices - helping put you in charge of your healthcare.