Redundancy Insurance Awards
Jargon Buster
In order to provide an explanation of the technical words and phrases under the British Insurance Protection policy documentation, we have produced a Jargon Buster in order to assist your understanding.
Active Employment - Carrying out the usual activities of working in Your Employment.
Carer / Caring - You look after a member of Your Immediate Family on a full-time basis and have completed a Carer’s Allowance claim pack and are either in receipt of or awaiting a Carer’s Allowance from the Department for Work and Pensions.
Carer’s Allowance - A taxable benefit paid by the Department for Work and Pensions to an informal Carer.
Chronic Condition - A sickness, disease or injury which has at least one of the following characteristics:
- it continues indefinitely;
- it is constant and is controlled rather than cured;
- it has symptoms which recur and have required consultation, treatment or care in the past; or
- it requires long-term monitoring or treatment, consultations, check-ups, examinations or tests.
Disability - Any accident or sickness which happens after the Start Date which stops You from working in your Employment and is certified by a Doctor.
Doctor - A medical practitioner who is registered with the General Medical Council in the UK, and is not You, Your spouse, Your partner or a relative.
Employed/Employment/Work - Permanent paid employment, including self-employment, of at least 16 hours per week.
FirstAssist - FirstAssist Insurance Services Limited.
Gross Monthly Income –
- If You are an employee, Your average monthly gross taxable earnings for the 12 months immediately preceding the Start Date, or the date of any subsequent increase in Monthly Benefit.
- If You are self-employed, the monthly average of the annual income You declared to HM Revenue & Customs on Your self-assessment return for the tax year preceding the Start Date, or the date of any subsequent increase in Monthly Benefit.
If You have been working for less than 12 months on the Start Date the average will be based on the number of months You have worked.
Immediate Family - Your spouse, civil partner, live in partner, children and parents.
Insurer, Our, Us, We – Great Lakes Reinsurance (UK) PLC.
Month - Any 30 day period.
Monthly Benefit/Benefit - The amount shown on Your schedule, up to 50% of Your Gross Monthly Income or £1500, whichever is the lesser.
Normal Pregnancy - Symptoms, or a combination of minor symptoms, which usually accompany pregnancy and which are generally of a minor and/or temporary nature which do not represent a medical hazard to mother or baby.
Start Date – 00.01a.m. on the date this policy commences as shown on Your schedule.
Temporary Work - Employment for an indefinite period which is not intended to be permanent. Employment of this nature via an employment agency is considered to be Temporary Work.
Unemployed/Unemployment - Being out of Work, registered as unemployed with Jobcentre Plus (in Great Britain), or the equivalent government agency in Northern Ireland. You must be available and actively looking for Employment.
Waiting Period - The first 30 days of Disability, Unemployment or being a Carer, which You have to wait before Your entitlement to Benefit commences.
You, Your, Insured Person - The Insured Person named on Your schedule.
