| Who is the policyholder? |
The employer |
The employer |
The employer |
| Who pays the premium? |
The employer |
The employer |
The employer |
| Who decides on the amount of benefit per employee? |
The employer |
The employer |
The employer |
| Who are all benefits paid to? |
The employer unless, after a claim is admitted, the employer asks us to pay benefit to the employee after they have left service |
The employer |
The employer |
| Can an employee select when and how benefits are paid? |
No, only the employer can make this decision |
No, only the employer can make this decision |
No, only the employer can make this decision |
| What is the maximum period that can be selected for income benefit? |
To age 70 |
To age 70 |
5 years (options for 2, 3 or 5 years) to maximum age 70 |
| What is the shortest period that can be selected for income benefit? |
2 years |
2 years |
2 years |
| What Deferred Periods (the period before benefit payments start) are available? |
13,26, 28, 39 and 52 weeks |
13,26, 28, 39 and 52 weeks |
13 and 26 weeks |
| What is the maximum income benefit per annum? |
£300,000 |
£300,000 |
£300,000 |
| Can employer pension fund and national insurance contributions be insured? |
Yes but payments cease if income benefit is paid direct to former employee |
Yes |
Yes, for duration of income benefit period only |
| Is an additional lump sum benefit provided? |
No |
No |
Yes, maximum of 9 x basic income benefit up to an absolute cash limit of £1,000,000 |
| Can income benefit increase in payment? |
Yes, various options to allow for inflation |
Yes, various options to allow for inflation |
Yes, various options to allow for inflation |
| What Definitions of incapacity are available? |
Generic occupation cover Combination cover |
Current occupation cover Combined cover Alternative occupation cover Objective cover |
Current occupation cover (only for 3 or 5 year income benefit periods) Combined cover Alternative occupation cover Objective cover |
| Does the employee have to remain on payroll for benefit to be paid? |
No, once claim admitted, employer can ask for income benefit to be paid directly to former employee |
Yes, unless we agree to do so on a non-contractual basis outside the policy |
Yes, for the limited duration of the income benefit period only |