Group Income Protection
Your contractual offer of employment will confirm whether you have any entitlement to Group Income Protection, which will be based on specific job grades.
The Group Income Protection scheme is designed to help you financially if you are unable to work due to long-term illness or injury.
This benefit is provided by Barratt in conjunction with our insurers.
Am I eligible to join the scheme?
This scheme only covers Directors and Senior Managers of Barratt Developments PLC. Cover is automatic up to a benefit level of £150,000.
If your benefit is above this level you will be contacted to complete a health declaration form. If further medical evidence is required you will be notified. Benefits will be restricted to £150,000 until medical evidence is provided.
If you were employed by Wilson Bowden PLC at 5 November 2007 you are already covered under this scheme and should refer to your contract of employment for details.
What are the benefits of the scheme?
If you are unable to work due to long term illness or injury this policy will protect a proportion of your income to provide you with financial help during this time. This may help you maintain National Insurance and pension contributions despite the break in normal salary payments.
When will I receive the benefit?
The benefit will start at the end of the deferred period and will be paid monthly in arrears while you are unable to work. The deferred period is the period of time you are first unable to work due to illness or injury until the time that benefits are paid to you.
How is this benefit paid for?
This benefit is paid for entirely by your employer and there is no tax liability on the premiums paid. Any benefit claimed and received as income will be subject to tax and National Insurance contributions under Pay as You Earn (PAYE).
For full details please contact your HR Department
How long will the benefit be paid?
The benefit will be paid until:
- you are no longer suffering loss of earnings;
- you no longer satisfy the definition of incapacity;
- you recover enough to return to full time work;
- you reach the age at which benefits can no longer be paid (as set out in the policy);
- you take another form of employment without notifying the Legal & General and without their consent; or
- you die.
Legal & General also reserves the right to stop paying the benefit if you are dismissed, leave employment with Barratt or refuse to supply evidence of continued illness or injury.
How do I claim?
If you think that you might need to claim under the Group Income Protection scheme please contact your HR Business Partner in the first instance.
For details of your own entitlement to to Group Income Protection, please see your offer of employment or separate scheme details which may have been sent to you.
If you have any queries please speak to your line manager.