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Holloway Friendly Society – Personal Income Protection

Holloway Friendly Society

Personal Income Protection

Type: Individual income protection plan

Minimum benefit/minimum premium: £3,600 a year/no minimum

Maximum benefit: Up to 50% of gross income to a maximum benefit of £120,000
a year

Minimum-maximum ages: 18-54

Minimum term: 10 years

Deferred period: Four, eight, 13, 26 or 52 weeks

Definition of disability: Own occupation, suited occupation for class four occupations after 12 months

Options: Children’s benefit, rehabilitation benefit, proportionate benefit,terminal illness benefit, and medical expenses benefit are automatically included, level or escalating benefit, waiver of premium during claim,
lifestyle and mortgage guaranteed insurability options, career break up to two years, payment holiday

Commission: Online submissions – indemnity commission 130% of the first month’s premium multiplied by 12, non-indemnity commission 143% multiplied by 12, paper submissions – indemnity commission 120% of the first month’s premium multiplied by 12, non-indemnity commission 132% multiplied by 12, premium increase of at least 10% will generate initial commission of 120% of increased monthly premium multiplied by 12, all submissions renewal 2.5% of annual premium



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