Calculating your cover

Peace of mind at a price to suit your own budget...

There are many things you should consider when calculating your cover.

How much cover do you need?

The amount of benefit you need depends, of course, on your current level of outgoings. You will need to calculate how much you spend on your lifestyle such as

• Household bills
• Mortgage payments
• Clothes
• Food
• Transport
• Holidays
• General leisure activities
• Other essentials
• Savings and pensions
• Insurance

When would you like your payments to begin ("the deferred period")?

To allow you to dovetail income payments with existing sick pay arrangements and other policies, there are eight 'deferred periods' to choose from:

• 4, 8, 13, 26, 52, 56, 104 or 112 weeks
• 56 or 112 week deferred period is useful for people who want to complement their existing Norwich Union Mortgage Payment Protection Insurance (MPPI) or Accident, Sickness and Unemployment Insurance (ASU).

The longer the deferred period you have, the lower the premium. You can also choose a policy with more than one deferred period. This may help lower premiums as you may only need a lower benefit after an initial period, maybe through access to sufficient funds elsewhere, such as savings and/or investment income. The benefit can then be increased to a higher amount after a further deferred period.

There are a number of factors that your premium will depend on including:

• your age
• sex
• occupation
• your current state of health
• whether you smoke
• whether you are involved in 'high risk' pursuits
• how long you want the policy to last

Our Income calculator has been designed to help you find out how much of your monthly earnings would be protected if you should suffer an illness or accidental injury.