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Glossary

Insurance can be complicated but its important to know exactly what you are getting.

We want our customers to be clear about what will be protected under their policy so below is a glossary of some of the words you may come across when searching for staff absence insurance:

Absent
The insured person’s inability to perform each and every duty of their employment with the policy holder.

Staff absence insurance
An insurance policy designed to specifically protect schools against the costs of staff absences.

Accident
A sudden, unexpected specific event, which occurs at an identifiable time and place within the period of insurance.

Illness
Any sudden and unexpected deterioration in health, including stress.

Stress
A state of mental or emotional strain or tension resulting from adverse or demanding circumstances.

Pregnancy related illness
A pregnancy-related illness includes any condition that is linked to pregnancy.

Phased return
An arrangement whereby a member of staff who has been absent from work returns to their full duties/time at work gradually, over a defined time period.

Policy wording
Is the terms and conditions and definitions of insurance coverage as they are written down in the insurance policy.

Insurer
A person or company that underwrites an insurance risk; the party in an insurance contract undertaking to pay compensation.

Intermediary
Brokers or agents who represent consumers in insurance transactions. Insurance intermediaries are contracted with multiple insurance companies so they can focus on matching their client's needs with the most suitable insurance products.

Policy holder
A person or group in whose name an insurance policy is held.

Period of insurance
From the effective date until the expiry date shown in the current Schedule and any subsequent period for which the insurer accept payment for renewal of the policy.

Exclusions
Exclusions are the cases for which the insurance company does not provide coverage. These are the conditions excluded from the insured event to avoid losses to the company.

Excess period
The number of consecutive working days of continuous absence for each loss occurrence before daily benefits are payable, which is deducted from the maximum benefit period.

Benefit period
Those days of a period of disablement in respect of which underwriters agree to pay daily benefits as stated in the policy schedule.

Daily benefit
The maximum amount payable shown in the schedule for each working day that an insured person is unable to perform his/her duties and is absent from school.

Loss occurrence
A period of bodily injury, illness or other insured cause that results in an insured person’s absence from their work.

Full Time Equivalent (FTE)
The number of hours worked by an insured person(s) expressed as a proportion of the policy holders normal full time working hours for each category of insured persons.

Chronic condition
A persistent and recurring condition.

Staff list
A staff list issued to you which gives details of all of the staff members that underwriters have accepted as insured persons.

To find out more about The Education Broker or to get a quote:

call: 0800 7833 500
email: info@theeducationbroker.co.uk

 

Why choose The Education Broker?

★ We are a Preferred Supplier of NAHT and an Approved Partner of NASBM

★ We offer four different policies, each of which can provide extensive cover

★ Pre-existing illnesses and pre-planned operations can be covered

★ Cover available for chronic conditions

★ Receive our wellbeing service, free in the first year

'Best Value' analysis in one step

To find out more about The Education Broker or to get a quote:

call: 0800 7833 500
email: info@theeducationbroker.co.uk

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