Inflation Linked Life Insurance
With Inflation-linked cover if you made a claim the monthly income would go up in line with the Retail Prices Index (RPI).
Choice of premiums
- Guaranteed premiums - the premiums remain the same all the way throughout term of your plan. If you have chosen inflation-linked cover your premiums and cover, will automatically go up each year in line with RPI.
- Reviewable premiums - this means the premiums you pay can increase or decrease in the future. The premiums will not typically increase or decrease for the first 5 years of your plan, but they may do so at any time after that. If your premiums do go up, or down, they will not change again for the next 12 months.
Claim waiting period
How long you have to wait after making a claim will depend on the waiting period. You can usually choose from between 1,2,3,6,12 or 24 months. The longer the waiting period you choose the lower the premium for your cover will be, but you'll have to wait longer after you become unable to work before the payments from the policy are paid to you. Premiums must be paid for the entire term of the plan, including the waiting period.
Depending on your circumstances, it is possible that the payments from the plan may affect any state benefits due to you. This will depend on your individual situation and what state benefits you are claiming or intending to claim.
Independent Advice
Speak to the independent life insurance advice team provided by one of our partner firms for a no obligation consultation to discuss if level cover life insurance is right for you.
ABOUT TRUST ONLINE