Have you ever wondered how you would cope financially if you had to take time off work for illness or injury?
More than 1 in 16 people are now taking time off work due to illness or injury¹. There were over 710,000 more people on long-term sick leave in the UK in April 2024 than there were in January 2021 at the height of the Covid pandemic 2.
Losing an income can have major implications on your finances, especially if you are used to a wide range of expenses and outgoings. You may receive NHS sick pay for a while depending on your length of service or, if self-employed, you may not be entitled to any contractual pay at all and available state benefits are often insufficient to cover even basic out-goings. So, what happens next? Your mortgage, bills and essential outgoings – how would they get paid?
That’s where Income Protection Plus comes in.
Income protection Plus provides you with a financial safety net for times like these. It can provide you with the ongoing income you may need and can keep you going financially over periods spent out of work whether short or long-term, up until you are well enough to go back to work or reach the age of 65, whichever comes first.
You get more with Income Protection Plus
Income Protection Plus is a comprehensive and flexible plan that can start paying from one month after illness or injury. Membership also includes access to a Wellbeing Counselling and GP 24/7 service to support you throughout your membership whether you are taking time off work or not.
The Plus in Income Protection Plus is the profit share feature that aims to build a cash lump sum over the life of your policy for payment to you in your retirement years whether you claim or not.
Why choose Income Protection Plus from PG Mutual?
PG Mutual is a not-for-profit Mutual Society that was set up by healthcare professionals back in 1928 and have been providing income protection ever since. They specialise in the world they know in supporting healthcare professionals whether full-time, part-time, locum or self-employed, and they pride themselves on their service levels and phone support.
As a member of the College of Paramedics you’ll also receive a special 20% discount* on your first two Income Protection Plus years’ premiums
Get a quote today
We think you’ll be pleasantly surprised by how affordable the cover is.
Just use discount code COP to enjoy a 20% discount on your first two years’ premiums*.
What you get with Income Protection Plus
• Comprehensive cover of up to 70% of your pre-tax income.
• A flexible policy that you can tailor to start paying out from 1 month of your illness or injury or after 3, 6 or 12 months.
• Long term cover option that can pay you up to the age 65, or when you’re able to return to work whichever comes sooner.
• Membership currently includes access to wellbeing counselling services and a virtual GP 24/7 service for you and your family.
• Vocational rehabilitation support if we feel it could help you get back to work sooner.
• A profit share feature that aims to pay you lump sum at the end of your policy.
Important Information:
• If you are not incapacitated by sickness or injury, you will not be able to claim.
• If you do not experience a loss of income during a period incapacity, you will not be paid any benefit.
• A final cash payment from the profit share feature of Income Protection Plus is not guaranteed.
• If you cancel your policy within 2 years, you will not receive any return from the profit share feature.
• You can find more information about Income Protection Plus from our Key Information Document and our Product Guide.
*Terms and condition apply
¹ som.org.uk Sep 2023
2 ons.gov.uk, June, 2024
PG Mutual is the trading name of Pharmaceutical & General Provident Society Ltd. Registered office: 11 Parkway, Porters Wood, St Albans, Hertfordshire AL3 6PA. Incorporated in the United Kingdom under the Friendly Societies Act 1992, Registered Number 462F. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, Firm Reference Number 110023.