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5 Valuable Income Protection Benefits Explained

Comprehensive insurance protection against loss of income - Sovereign Income Assistance Plan

1. Accident and Sickness Monthly Benefit

If you suffer an illness or injury that prevents you from working, Sovereign will pay you between £250 and £2,500 per month.

The maximum monthly benefit you can choose is 60% of your gross earnings if you are employed. For self employed people, it's 60% of your net profit or 60% of the additional cost to continue your business.

You will receive the monthly benefit until you can return to work, or for up to your chosen benefit period (12 or 24 months).

2. Hospitalisation Benefit

If you are hospitalised for more than 48 hours, Sovereign will pay you a daily benefit of 10% of your chosen monthly benefit. That's a cash benefit of between £25 and £250 for each full day you remain in hospital for up to a maximum of 30 days each policy year.

3. Serious Injury Benefit

Should you permanently lose the use of 2 limbs or sight in both eyes, you will receive a cash lump sum equal to 50 times your chosen monthly benefit. That's a cash lump sum of between £12,500 and £125,000. Half this amount is payable if you lose the use of one limb or sight in one eye.

4. Accidental Death Benefit

In the unfortunate event of accidental death, a lump sum of 50 times your chosen monthly benefit will be paid out. That's a cash lump sum of between £12,500 and £125,000.