WorksheetsVitality Life Income Protection Plans
Total questions: 10
Worksheet time: 5mins
What are the Income Protection Products from Vitality Life?
Purely Income protection
Short term Income protection
Low Start Income Protection
Full Income Protection
Budget Income Protection
Income Protection Cover
Income Protection Cover Plus
Short Term Income Protection Cover
None of the above
What is the eligibility of an agency worker client to get IP from Vitality?
No working status restrictions for clients to get Vitality IP
They are not eligible
16hrs/week working hours
30hrs of work, 12 mos average earnings
How many months should the client be a UK resident to be eligible for Vitality IP?
6 months
12 months relative to continuous income proof
24 months
12 months
What is the eligibility criteria for self-employed client who has just started his business?
1 yr of record as self-employed if they worked previously on employment contract
There are no restrictions for self-employed client regardless of tenure of business
6 months of record as self-employed if they worked previously on employment contract
They are not eligible
Who can have 7days deferred period?
All low-risk occupation an have 7days deferred period
Clients on employed contract, 30hrs per week
Self-employed client on Class 1 and 2 occupations
None. Minimum deferred period is 4 weeks
True or False. Vitality Income Protection is designed for high-risk occupations.
True
False
What does Incapacity special definition mean for Vitality clients?
If the client is unable to do 3 out of 6 ADL they get the 50% of the benefit, If they can do the activities under ADL but cant do their normal job, they get 25% of the benefit
If the client can do 3 out of 6 ADL they get the full benefit, If they cannot do the activities under ADL but cant do their normal job, they get half of the benefit
It is the combination of Own and ADL incapacity definition
If the client is unable to do 3 out of 6 ADL they get the full benefit, If they can do the activities under ADL but cant do their normal job, they get half of the benefit
What is one unique benefit during claim for Vitality Income Protection plans?
Recovery Benefit
Waiver of Premium
Critical Illness cover for children
None
True or False. All Income Protection plans include Hospitalization cover?
True
False
How do we calculate for the Proportionate Benefit?
A new reduced income is deducted from verified income. The difference is divided by verified income. Then it is multiplied by the amount of the benefit
We get the difference between the new reduced income and the income prior incapacity
we get the %
% of cover = weekly working hours before claim - new weekly working hours divided by the weekly working hours before claim
Vitality IP does not have Proportionate benefit
