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The Cover Provided By The Global Income Plan | If you suffer an illness or injury that prevents you from working at your own occupation for longer than your deferment period, you can start claiming your income plan benefit.
Your Global Income plan benefit
The benefit we pay you will be the annual benefit you have insured provided this is not more than 75% of the gross annual salary you were earning at the time of your disability, LESS any other income you are entitled to receive whilst you are disabled.
Other income includes any income you are receiving from the state, your employer, or another insurance company. You must always ensure that the total of any other income you would be entitled to receive, and your Global Income plan benefit added together will not exceed 75% of your pre-disability salary.
Paid as a regular monthly income
Once we have accepted your claim, we will start paying your income benefit monthly in arrears. We will continue to pay you benefit for a period of up to 24 months whilst you remain totally unable to return to your own occupation. Your own occupation is the occupation you have declared to us on your application form.
Rehabilitation benefit
If during this first 24 months you are able to resume your own occupation on a part-time basis, you may be eligible to claim a rehabilitation benefit. Rehabilitation benefit can be paid for up to six month until you are fit enough to resume full time work.
After 24 months
After we have paid you benefit for 24 months, we will continue to pay if you are totally unable to return to any occupation for which you are reasonably suited by way of education, training or experience. If at any time after we have paid benefit for 24 months you are able to return to a different occupation, even if it is a less well-paid occupation, your benefit will cease.
Benefit payments automatically cease when you reach age 65, or on death, which ever is sooner.
Linked claims
If, after becoming eligible for benefit you return to work and within six months suffer a relapse, your benefit payments will re-start immediately.
Escalating benefit
If you start to claim, your benefit payments will escalate by 2% compound each year.
Terms and Conditions
Please download a copy of the Global Life & Income protection plan agreement
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