Income protection insurance Specific Injury Benefit

Automatic injury payments, even if you’re still working!

Normally referred to as the ‘Specific Injury Benefit,’ this particular benefit is a valuable provision under an income protection insurance policy where you are paid a lump sum benefit for a listed event regardless of your ability to work! In addition the benefit is triggered from the date of your injury, meaning your waiting period is also waived.

Broken your arm? If your policy has the ‘Specific Injury Benefit,’ you could receive up to two months worth of benefit immediately on claiming. If you return to work the very next week, the benefit is yours to keep.

The benefits vary with each policy and payable events range from 13 events to 54 events; however payments of up to 60 months can be paid under this provision giving you more financial options to decide when to return to work.

Most policies offer the ‘Specific Injury Benefit’ at no extra cost. Does your policy offer this extra protection?

Related Links: Income Protection