What is The Exeter minimum benefit guarantee?
The Exeter’s minimum benefit guarantee allows you to fix your benefit up to a maximum of £1,000 per month. This is part of their ‘fixable benefits’.
The minimum benefit guarantee enables you to fix your benefit up to a maximum of £1,000 per month in return for simplified financial evidence.
This can only be added when you first take your policy out and if you choose a two-year limited payment period. It will come at an additional cost.
Alternatively, the standard fixed benefit option allows you to fix up to 75% of your benefit by providing financial evidence. This option comes at no additional cost and can be added at any time within the first 12 months of your policy.
If your earnings were to drop, these options provide you with peace of mind that you could still receive a substantial payment each month to help cover your expenses.
You must be in active employment when you make a claim to be eligible for fixable benefits.