Chorley Building Society has partnered with income protection expert, PG Mutual, to offer an income protection product to their members.

The product is called ‘Income Protection Plus’ and the plan will provide an income for policyholders if they are unable to work due to illness, accident or injury.

What’s more, as an added bonus, PG Mutual returns profits to its members meaning the plan builds up a lump sum based on the length of time you have been with them, whether policyholders claim on the plan or not. In addition, Income Protection Plus members now benefit from an Enhanced Loyalty Bonus that aims to provide you with a minimum capital sum of £10,000 and six months of your income benefit to your family in the event of your death. Members will also have free access to a GP 24/7 app and telephone counselling service for themselves and their family.

“Chorley are delighted to enter this relationship with PG Mutual; an organisation whose values and ethos are so closely aligned to those of the Chorley” said Kimberley Roby, Customer Services Director at Chorley Building Society, “As a mutually owned building society, our focus is on ensuring that we offer a range of products which continually meet the needs of our members. The PG Mutual offering supports this by ensuring our members have access to a policy which will give them protection and peace of mind in the event of a sickness, accident or illness”.

Mike Perry, CEO of PG Mutual, commented: “Income protection gives families peace of mind whether they have a mortgage or rent and we are very pleased to partner with Chorley Building Society who have served their local community for 160 years.

Income Protection Plus can be set up to start from the very first day of absence from work, which benefits those who are self-employed and have little or no financial buffer in place should they be unable to work due to accident or illness. It also provides for people who may not be entitled to sick pay from their employer. Income protection can help ensure people are better able to meet their financial commitments despite being unable to work due to illness or injury.”

Both new and existing members of Chorley Building Society can obtain a personal quotation via the PG mutual website.

Premiums are dependent on age, profession and type of policy; however Income Protection Plus offers flexibility with policyholders able to adapt the plan to suit their needs and budget by choosing the amount of income they need each week, when payments will begin, as well as the amount of long-term benefit selected.

 

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