Asteron Income Protection

Asteron Life

Income Protection cover from Asteron pays a monthly benefit if the policy holder becomes disabled and is unable to work due to injury or sickness.

Asteron’s Income Protection cover allows a monthly benefit to be paid to the insured should they be unable to work because of sickness or injury. There are three Income Protection products to choose from, including:

  • Income Shield
  • Income Protector
  • Income Advantage

All three of these Income Protection offerings allow the insured to choose either an agreed value or an indemnity benefit. With the agreed value, the monthly benefit that is paid to the insured is the amount that is accepted at the time of application, regardless of any subsequent rise or fall in the policy holder’s income.

The indemnity benefit allows the insured to receive the lesser of either the monthly benefit that is shown in the policy schedule or an amount that is up to 75% of the insured’s pre-disability income.

Benefit periods that may be chosen are either for 2 or 5 years, or until the insured reaches either age 60 or age 65. In addition, should the policy holder become unemployed, Asteron will continue to cover them unless their cover ends due to a circumstance that is outlined in the policy.

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