Frequently Asked Questions

Why is this protection different?

There are two important features of this insurance:
1. The cover is for Accident and Illness risks. Most other policies available cover accident risks only. You are six times more likely to be disabled from an illness than from an accident so it is important to be protected for both.
2. Most policies define disablement as being from any occupation, which means if you are an banker but you can make baskets, you are not considered disabled. This protection is for disablement from your usual occupation or a similar occupation for which you are qualified by education, training and experience. If you are an architect, you are protected if you are unable to be an architect, a banker, from being a banker, or a graphic designer from being a graphic designer.

How do I know what sum insured to buy?

The age and the salary of the Insured Person at the time of taking out the insurance determine the most prudent sum insured to purchase.

  • The older the person the smaller the amount necessary to provide income to retirement age
  • A young person needs a larger total limit as there are more years to protect but rates tend to be lower for young people
  • The total sum insured suggested for you is based on a number of factors and estimated by actuaries to be sufficient to provide income to retirement age
  • If the Insured Person chooses to have a smaller limit however, the policy may be structured according to his or her special requirements.

Can my employer buy the insurance on my behalf?

This is a policy that:

  • You can buy to protect yourself, or
  • Your employer can buy as an employee benefit for you.

The benefits and the cover are the same. The only difference is who pays the premium.

As an employer, what other advantages are there in purchasing this protection?

Employers also commonly purchase this insurance to protect:

  • Company income that would be lost without the contributions of a key man
  • The additional cost of replacing an employee lost through disablement
  • As an employee benefit, to protect key personnel
  • To pay for the cost of buying back shares owned by key executives if they are no longer able to work within the organisation
  • To protect loans, or
  • To protect supply contracts.

Whenever there is a financial exposure you can protect it with Insurance.

What is the cost of the Insurance?

The premium is calculated according to the specific requirements of your circumstances and according to the options you have selected. The price however depends upon:

  • Whether you have selected an excess period of 90 days or 180 days
  • The monthly income to be protected
  • Whether the 5% inflation option has been selected
  • Your occupation and other activities
  • Your previous medical history and the results of your medical examination
  • Your age and sex

Most plans are for a period of 36 months with annual premium payments - and renewal premiums do not vary significantly from year to year.


Griffin Underwriting Ltd is reinsured 100% with certain Underwriters at Lloyd's, London and is registered in Guernsey under Registration No. 42359 and regulated by the Guernsey Financial Services Commission.

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