A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
Income Protection Insurance Jargon Buster
B
BACK TO DAY 1
This means that you can make an income protection insurance claim after
just 30 or more consecutive days of not working through accident, sickness
or unemployment. The income protection insurance claim will then be backdated
to the first day of the claim.
For example, if your income protection insurance claim starts on the 1st
June and you return to work on the 30th June no benefit is payable. However,
if this claim extends until the 1st July or later (30 or more consecutive
days) then you will receive benefit dating back to the first day of your
income protection insurance claim (i.e. 1st June).
Back to day 1 cover should not be confused with the initial exclusion period.
For the first 90 days immediately after the start date of the policy you
will not be able to make an income protection insurance claim for unemployment
(this does not apply to accident or sickness). This exclusion period may
be waived if you transfer from an existing payment protection product
BACKACHE
You will not receive incapacity benefit for;
Backache and related conditions, including back injuries, which are
not supported by medical evidence.
BENEFIT PERIOD (3, 6 or 12 months)
Depending on your choice of benefit period this is the maximum length of time we will pay you for any one period of your income protection
insurance claim or until you return to work which ever come first. You can make multiple income
protection insurance claims, subject to re-qualification, (see Multiple
Claims) for the life of the policy up to retirement age or until you cancel
it.