Most people don’t think they will have more than a week off work through sickness. Sadly illness or accident can affect any of us at any time and this could significantly reduce your earnings. What happens then when the bills keep coming in?
TFS offers a straightforward Sickness Plan that will pay you a weekly sum if you are off work sick for more than a week. It even gives you a ‘NO CLAIM BONUS’ for each year you don’t make a claim.
- How much you wish to pay – remember, the cost never goes up after your plan starts!
- How long you wish to be paid for – also remember all benefits are tax-free and are in addition to any statutory or company payments!
Simply choose how much you wish to pay (the higher your contribution the more we pay you if you are off sick), then select the maximum number of weeks you would like the benefit to be paid (5 weeks or 12 weeks). For each year that you do not make a sickness claim, we will pay you a No Claim Bonus (NCB); the amount payable is dependent on the total benefit you have selected to be paid.
Subject to submission of a valid claim, benefit is payable from the second week of any sickness for up to the maximum number of weeks you selected in any 12 month period. The Plan does not cover sickness that starts in the first 13 weeks of the Plan’s start date.
- Contributions start from £1.55 per week
- Cost never goes up and contributions don’t increase with age
- Benefits are paid tax free
- Up to £175 a week benefit when sick
- Additional discretionary benefits
- You can upgrade or downgrade your cover
- Your Plan will end on your 65th birthday
- You may qualify for a No Claim Bonus* when you leave
We will pay you a NCB for each full calendar year you do not make a claim. We will pay at least £1 for every £7 of benefit you have selected , provided you have paid contributions for at least 5 years. We will pay this as a lump sum, either:
- After you reach age 60, or end eligible employment and stop contributing into the Plan, or
- If you are medically discharged from eligible employment before your 60th birthday and stop contributing into the Plan (subject to satisfactory medical evidence).
We will pay a NCB upon your death, irrespective of whether you have paid contributions for 5 years or not.
A No Claim Bonus will not apply to any period of membership beyond age 65.