This plan provides up to £2,500 monthly benefit (minimum £250 a month) if the customer is unable to work due to sickness or accident (or £300 a month for non-working partners). Optionally, unemployment cover can be added at extra cost. Customers must be aged 18 to 59 and UK, Isle of Man or Channel Islands resident.
Premiums are level, in order to meet people’s concerns about rising premiums and future affordability. There are no occupation or hazardous pursuit exclusions and customers can insure up to 60% of their taxable earnings.
Cover is standard ASU (accident, sickness and unemployment) type benefits, but the plan also pays out on being hospitalised for more than 48 hours, when April UK pays 10% of the monthly benefit per day, up to 30 days per policy year. A range of deferred and benefit periods is available. So, the benefit period could be one or two years (unemployment cover is always restricted to one year), with deferred periods available being 14 days, 30 days, 13 weeks or 26 weeks. There is a 90 day initial sickness exclusion and other exclusions are fairly typical of ASU plans.
Other benefits include Best Doctors and access to the April UK discount portal, which offers discounts at over 20,000 sites including major high street chains.
A customer wanting £1,000 a month one year cover with a 30 day deferred period would pay £26.90 a month for accident and sickness cover or £42.90 a month with unemployment cover too.
What They Say
Marketing manager Isaac Lam said: “We have taken steps to make our plan as simple as possible, whilst still providing effective income protection benefits. Moratorium underwriting rather than medical underwriting will make it quick and easy to obtain cover.”
What We Say
"ASU cover all seems to offer very similar benefits. But April has tried to be a bit different.
"So, the plan has a useful hospitalisation benefit, and there is a choice of both deferred period and benefit period. Also included is access to Best Doctors and April UK’s discount club – an add-on that appears to be growing in popularity generally.
"However, ASU still only provides limited cover compared to ‘full’ income protection (and customers may find it confusing for any ASU cover to be referred to as ‘income protection’), but you could also combine a plan such as this with long term IP with a one or two year deferred period to get consecutive benefits paid out."