Paying out claims for a recurring condition
Protecting your income in case you’re unable to work is crucial for self employed people as the business solely relies on you to generate an income.
A 56 year old Osteopath suffered a serious injury whilst playing squash, tearing ligaments in his shoulder and leaving him unable to work for nearly eight months.
Thankfully he had subscribed to dg mutual’s Immediate Cover Plan, opting to protect 75% of his net pre-tax earnings. This meant he received income from the very first day of his accident, receiving over £11,000 during the 29 weeks he couldn’t work.
However, two years later, the Osteopath’s shoulder needed further corrective surgery which left him unable to work for an additional 10 weeks. Because dg mutual doesn’t add exclusions to its policy, the claim was paid out again, providing an additional £3900 of income.
As a Friendly Society, dg mutual is owned by its members who all receive a share of the profits when their policy finishes. This tax-free cash lump sum isn’t affected by claims so the Osteopath has so far accumulated £2000.
