What does income protection not cover?
As a mutual insurer owned by our Members we have two responsibilities. The first is to ensure that we pay as many income protection claims as possible and the second is to manage the risk to the Society and ensure that we remain in business to pay these claims.
Sometimes however, we have to decline claims that our Members make because they do not comply with the rules of the contract, (Schedule 1 for Health & Wealth Members or Schedule 2 for Income Assured Plus members) or the rules of the Society. (Memorandum & Rules)
Cirencester friendly exists to provide a continuing income for its Members should they become unable to work and earn a living due to illness or accidental injury. We think it is important that you understand our claims process and why in some circumstances the Society is unable to pay a claim. Below are some of the most common reasons a claim for income protection benefit is declined and how you can help avoid them. |  |
No Proof of Earnings
Remember income protection is income replacement insurance and benefit paid is calculated on a percentage of your current income. Therefore if you make a claim and are unable to provide proof of earnings the Society is unable to calculate any benefit or determine that you have lost any income. If you have not lost your income your contract will not pay out.
No Loss of Earnings
If you are ill but do not suffer a loss of income then you will not be able to make a claim for benefit. The important thing to remember is that income protection protects a percentage of your income against loss due to illness or accidental injury therefore if you do not lose any income you cannot make a claim.
No Medical Evidence
You must provide Medical Evidence to support your claim for income protection benefit. If you cannot prove that you have been off work due to illness or accidental injury you do not meet the claims criteria therefore the Society will decline your claim for income protection benefit.
Non-Disclosure
When you join the Society you are asked to provide information about your circumstances and your Medical History. Non-disclosure is when the Society discovers something about you, which you were aware of when you joined the Society and did not tell us about, that may have had an effect on the contract offered to you by the Society.
Non-disclosure will result in a declined claim and may in some cases mean that your Membership to the Society will cease.
It is important that you provide full and accurate information to the Society when you apply for your income protection contract as failure to do so may result in the Society being unable to pay a future claim or your Membership being terminated.
Contract in Arrears
In accordance with the Rules of the Society you are not able to make a claim if your contract is in arrears therefore if your premiums are not up to date you will not be able to make a claim for benefit.
If you are experiencing difficulty in paying your premiums please contact our Customer Care Team on 0800 587 5098 or 0845 603 8085 as we may be able to help.
Cirencester friendly is committed to supporting its Members when they need it most and we actively encourage other providers to be open and transparent when it comes to Claims Statistics. Click here for our latest Claims Statistics Card.