Eligibility
IncomeShield is available to your clients who meet the following criteria:
- Be 18 or over and under 64 when the cover is purchased
- Be in paid work for at least 16 hours a week
- Live in the United Kingdom, Channel Islands or Isle of Man
- Be in continuous full-time employment with their current employer or continuously self-employed for a period of at least 6 months, or be a fixed term contract worker for at least 24 continuous consecutive months immediately before the start date of the policy
- Be unaware of any circumstances which may result in making a claim under this policy
If the policy being taken includes Unemployment Cover, then in the 6 months before the policy start date your client must also meet the following criteria:
- Not be registered as unemployed in the 12 months before the start date of the policy
- Have not received formal or informal notification that their own job is at risk
- Their employer must not have formally announced its intention to make job cuts, made any mandatory reductions to basic salaries or contractual working hours of the workforce at the location of their job
- Their company or the company they are employed by is not either in administration or has not announced formally or informally that it is going into administration, receivership or liquidation.
* Please note: If your client has not taken out a new credit agreement within 60 days of the start date of the policy, further eligibility criteria may apply. For example, employed and self-employed applicants have the continuous full-time employment criteria extended to at least 9 months prior to start date, if they are applying for a policy which includes Unemployment Cover and have not taken out a new credit agreement within 60 days of the start date of the policy.
Occupation Restrictions
Due to the current economic climate, some occupations have been identified as being at high risk of redundancy. Find out more about occupation restrictions and when some applications may be referred for individual underwriting checks.
Next Steps
This page is intended solely for the attention of Directly Authorised or Exempt Firms as defined by the Financial Services Authority.