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Temporary Income Protection without Medical Underwriting
We understand that individuals have different cover needs and that some of our clients might want an entry level, straight-forward product to cover the gaps in their existing cover. Express Income fills this gap by paying you a regular, monthly income when you are unable to work as a result of temporary injury or illness.
Express Income offers fast and effective temporary income protection, with no medical underwriting. And, while Express Income is a simple product, you will still enjoy FMI’s commitment to claim certainty.
Express Income
Express Income has been designed for individuals who need:
‘Top-up’ cover
Most group schemes only cover 75% of an individual's pensionable income while most disability benefits do not cover all types of income e.g. commission. Helping to protect you against under-insurance, Express Income can act as a supplement to group cover or an existing personal policy.
Temporary Disability cover only
Most employee benefits carry a 3 to 6 month waiting period while standard permanent disability benefits do not cover short temporary disabilities.
This could leave you exposed to risk. With short waiting periods and a choice of benefit terms, Express Income can help fill the gaps.
Cover for the first time
Many first time small business owners feel that disability insurance is too costly for their needs. However, taking time off work due to a temporary disability could mean financial ruin for your business. Express Income is an affordable, simple temporary income protection solution.
Temporary Income Protection (TIP) for individuals
- Offers a monthly income when you are not able to work due to a temporary disability.
- Cover amount of up to R25 000 per month or 100% of income, whichever is the lesser.
- Choice of waiting periods: 7 day (not available to salaried individuals), / 14 day / 30 day period.
- Choice of benefit terms: 3 / 6 / 12 / 24 months.
- Cover till age 65 or 70.
- No medical underwriting required.
OPTIONAL BENEFITS
We believe temporary income protection should start with 100% cover of your income need, with benefits that protect you against the major risks to your income – temporary disability. Once that cover is in place, then you can consider additional benefits.
Our additional benefits have been designed to support our temporary income protection offerings because we understand there are events beyond disability that impact your ability to earn an income.
These optional benefits enhance our main benefits. You can choose as many as you like:
- Dread Disease Enhancer
- Hospitalisation Enhancer
- Death Income
All Express Income policies automatically include: Benefit escalations, Driver’s Extension, Continuation Option, Childbirth Benefit, Change in Circumstances Option Freeze Benefit, Immediate Cover, Claims Assist
