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Zurich Corporate Risk – Group Income protection

Zurich Corporate Risk

Group Income protection

Type: Group income protection

Minimum group size: Five

Minimum premium/minimum benefit: £750 a year/no minimum

Minimum-maximum ages: 16-69

Maximum benefit: Gross pay policies – 75% of salary with deduction for State Employment and Support Allowance or 80% of salary, including employee pension contribution, without ESA benefit subject to £300,000 a year maximum, integrated policies up to 80% of salary subject to £300,000 a year maximum

Options: Gross pay or integrated policy, limited benefit term options of two, three, four or five years, lump sum benefit option of up to four times salary subject to £1.6m maximum, escalating cover, extended cover after terminating age

Definitions of incapacity: Own occupation, suited occupation, benchmark or a combination of definitions

Deferred periods: 8, 13, 26, 28, 41 or 52 weeks, minimum 28 weeks for integrated policies

Commission: Initial 12% but negotiation possible

Tel: 0800 141 2002

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Contributory factors

Other firms look set to follow Aon’s lead in cutting contributions into its pension scheme.

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