APPLYING FOR INCOME PROTECTION 

How do I apply for Income Protection Plus cover? 

Simply choose your cover options via our Quick Quote, and apply by using our quick and easy online application form. If you have any questions about the application or your cover options, please email us on enquiries@pgmutual.co.uk or call us free on 0800 146 307. 

Who can apply for Income Protection Plus? 

If you reside in the UK, and have done so for at least 6 months, and are aged between 18 and 59, you can apply for Income Protection Plus. We accept applications from both employed and self-employed individuals. 

Do I need to have a medical examination? 

We would only ask you to undergo a medical examination by your own GP if we cannot make a decision based on your medical interview, which we can normally do. We may, however, ask for information from your medical records. We will inform you in writing should this be the case. 

How can I pay for my income protection plan? 

Premiums are to be paid by Direct Debit from a UK bank or building society account on either a monthly or annual basis. There are no fees for paying your premiums by direct debit, and nor do we require you to enter into any form of credit agreement. 

TYPES OF COVER 

What is the maximum level of cover I can apply for? 

You can apply to insure up to 70% of your pre-tax occupational income, or £5,200 monthly, whichever amount is least. Please note the higher the level of cover you select, the higher your monthly premium is likely to be. 

What is the difference between Level Benefit cover and Reducing Benefit cover? 

Level Benefit means that we can pay your full insured Income Benefit to you for the duration of any claim, even if you were incapacitated until the Insurance End Date of your policy, which is normally your 65^th birthday. 

Reducing Benefit is a less expensive option that will pay your full insured Income Benefit for the first two years of a claim but then reduces to 50% for the third year of the claim and 30% from the fourth year until you sufficiently recover or reach your Insurance End Date. 

What does “Claim Deferment Period” mean? 

The Claim Deferment Period means the period you must wait from the start of any incapacity before you can claim Income Benefit payments from PG Mutual.  You can select from the following Claim Deferment Periods (depending on your occupation): Nil (also known as Day 1 Cover), 7 Days, 14 Days, 1 Month, 3 Months, 6 Months or 12 Months. 

What if my employer pays me sick pay? 

If you are employed, you should review your employment contract to see how long and how much of your salary will be paid in the event of you being incapacitated.  It usually makes sense to defer the start of your Income Protection cover until after the sick pay.  We offer a range of Claim Deferment Periods you can choose from, and longer Claim Deferment Periods cost less. Choose a Claim Deferment Period that can make sure you don’t lose out on your income once your employer’s sickness pay stops or reduces.  

How flexible is my cover? 

You can apply to amend your cover if your circumstances change, subject to approval by our underwriters. Simply contact us on 0800 146 307 to discuss your needs or complete and submit our Cover Variation Application form. 

Will my premiums increase each year? 

Yes, our premiums are based on your age. This means that your premium will generally increase as you get older because you become more likely to claim, and more likely to take longer to recover.  

We review the adequacy of our product pricing on an annual basis to make sure it remains sufficient to cover our income protection claims and management expenses, and we will increase our product pricing if this is necessary. 

What happens once I have applied? 

Once we receive your application, you will be asked to provide us with information about your health and your medical history. This can be done via our online medical questionnaire, or you can use our Tele-Interview service.  

If you apply for Reducing Benefit cover, you may be given the alternative option of accepting a pre-existing conditions exclusion. This reduces the amount of medical information you need to provide us, but it is important you read the exclusion carefully. 

CHANGING CIRCUMSTANCES 

What if I change my occupation? 

Simply inform us of any changes to your occupation – we will then submit these changes for approval by our underwriters and inform you of any changes to your plan. 

What happens if I decide to go travelling or move country? 

You must generally be a UK resident to qualify for Income Protection Plus membership, and if you move away from the UK whilst you are an Income Protection Plus member, you will generally be required to cancel your policy. 

While you will not forfeit your policy by travelling outside the UK, you will not generally be able to claim for Income Benefit whilst you are travelling or on vacation while incapacitated unless your doctor has confirmed it will support your recovery. 

What if I don’t want to continue with income protection insurance? 

You may request to cancel your Income Protection Plus policy at any time with one month’s notice. Cancellations are processed at the end of the month in which PG Mutual receives your written cancellation request. 

Please remember that if you no longer require your insurance cover, you can retain your Profit Share Account for a reduced premium. PG Mutual offers its Income Protection Plus members the option of Associate Membership. As an Associate Member you can retain your Profit Share Account but will not be entitled to claim any Income Benefit and may lose access to some of our membership benefits. 

What happens when I reach the Insurance End Date of my policy? 

Every Income Protection Plus policy will have an Insurance End Date, which will normally be your 65^th birthday. 

Once your Insurance End Date is reached, your insurance cover will expire and any claim will come to an end. You will then become an Associate Member so that your Profit Share Account can remain open for a reduced premium. 

EXCLUSIONS 

Are there any exclusions on the policy? 

There are some standard policy exclusions that apply: 

• Incapacity caused by self-harm or your participation in anti-social or unlawful behaviour is not covered. 
• Incapacity caused by your failure to comply with the health and safety guidance for a dangerous activity is not covered. 

• Incapacity caused by voluntary procedures such as cosmetic dentistry or surgery is not covered. 
• Incapacity caused by your participation in excluded recreational or sporting activities will not be covered by your policy.  
• Incapacity caused by your participation in military activities. 

Does vaping class as smoking?   

Vaping will not be classed as smoking. However, to be classified as a non-smoker you would need to not have smoked for a minimum 12-month period. 

MAKING A CLAIM

To find out more about how to make a claim click here.

RECOMMENDING OTHERS 

Can I recommend a friend, family or staff member for Income Protection Plus and if so, how do I do it? 

Yes you can. Full details are available here. 

If you can’t see an answer to your question here then please call us… we’re here to help. Call us free on 0800 146 307.