What’s the maximum amount you would pay out?
The maximum cover you can choose with us is a maximum of £50,000 a year. However the most we’d usually pay is half your annual income before tax, up to your chosen cover amount, whichever is lower. If you've chosen inflation-linked cover, this may take you over this amount. However, we know that it can become difficult to provide evidence of earnings at the time of claim, especially if it fluctuates. When this happens, we may use a mortgage guarantee to work out the maximum we'll pay, to make sure your mortgage payments are secure. This is explained in section A6 of the policy summary.
If you have continuing earnings from your employer such as sick pay, or other insurance policies or state pension benefits being paid while we're paying you, it will reduce the amount we'll pay ourselves.