Is this an insurance policy?
​Income protect is a membership plan that protects you incase of a job loss. It is backed by insurance but not a standalone insurance policy.

Who can buy this plan?
​If you are an Indian citizen, working as a full time salaried employee of a company registered in India, then you are eligible to buy this plan.

Can I still buy the plan if I'm in my probation period?
​No, you must be a full-time employee

How is the price of the plan determined?
​The plan price is determined by your current salary as well as the coverage options you choose.

Can I buy a limit above my salary?
​The plan pays you the plan limit, or your 70% of monthly fixed salary for 2 months, whichever is LOWER. We recommend you buy the plan limit closest to your actual monthly salary.

Should the salary selected be in-hand salary or CTC?
​You should choose your gross salary, which is your salary before taxes. This should NOT include variable pay, bonuses, performance incentives, stock options, and so on.

Can I cancel my existing plan?
​You can cancel the plan for free within 7 days of purchase. You cannot cancel after that.

Can I change the plan after buying?
​Unfortunately, we do not offer the option to change your plan after you purchase. However, you can cancel your current plan and buy a new one that better fits your needs. If you need any help with cancelling your current plan or purchasing a new one, please don't hesitate to contact our support team.

Will my plan continue to be valid if I switch jobs?
​If you switch jobs, you must get a new job and inform us about the same within 30 days of quitting. If you do, we will edit the plan doc and send it to you. If you are unable to meet this 30-day deadline, we will cancel the plan and provide you a pro-rata refund. When you switch jobs, your initial waiting period will reset and you will have to serve it again. However, the condition that you must be employed for 180 days to claim will not apply.

I've been promoted/got a salary hike. Will my plan still be valid?
​Congratulations on your promotion or salary hike! You will need to update your plan to ensure that it reflects your new income and provides you with adequate coverage. Please contact our support team; we will be happy to assist you in updating your plan accordingly.

Will I get tax benefits out of the income protect plan?
​There are no income tax benefits to the plan. However, the plan will pay you your full salary, with tax deducted at source.

Are there any additional benefits to the plan?
​Yes, your plan offers extra benefits beyond salary payment, including three months of additional benefits and job placement assistance if you lose your job. Some plans offer a 3-month job portal subscription as well.

Is there any waiting period to be served after buying the plan?
​There is a 90-day wait period following purchase. You cannot get job loss benefits if you lose your job before or during these 90 days. To make a claim, you must also have worked for your company for at least six months.

Is there a limit on the salary benefit that I will be paid per month?
​Your plan pays the lower of half plan limit and 70% of monthly salary as a benefit for each payout. There are 2 payouts in the plan, one after 45 days and one after 90 days of unemployment. Check your plan details and contact support for any further questions.

I can't find my company name in the list. Can I still buy the plan?
​Unfortunately, we cannot offer the plan to individuals whose company is not in the list. Contact support to confirm before buying.

What kind of placement assistance will you provide?
​Our Placement Expert will help you build a new resume, train you with mock HR interviews, provide a job portal subscription for 3 months and connect you with our partner recruiters to help you find a job and advance in your career. For more details, read https://support.assurekit.com/en/articles/8275153-navigating-your-job-loss-claim

What plan subscription payment options do you provide?
​We offer monthly and annual payment options for the premium of the Income Protect plan. You can conveniently make the payment online using standard payment methods like UPI, debit card, credit card, and net banking.

How long is the plan active?
​Your plan is valid for one year from the date of purchase. You can enjoy the benefits of the plan during this period. If you wish to continue with the plan, you can renew it before it expires.

Is it safe to buy income protect?
​Yes, Income Protect is safe. The plan is backed by an IRDA-licensed insurer. Safety and trust are at the forefront of what we do, and we implement the highest security standards with regular audits.

How do you take care of my privacy?
​We prioritize safety and trust and are committed to protecting your data. Our company is certified with ISO 27001, SOC2, and GDPR, and we implement the highest security standards for customer data, including TLS-only data flow and regular audits.

Is there a KYC?
​KYC is required when you make a claim, we will collect your PAN and Aadhar at the time of claim.

What are the Documents Required for KYC verification?
​To verify KYC, we need your last three months' payslips and PAN and Aadhaar details.

What are the documents required for a job loss claim?
At the time of claim, you will need to provide the following:
1. Joining letter
2. Termination notice
3. last 3 months' payslips
4. last 3 months' bank statement(of your salary account)
5. PAN and Aadhar
6. Reporting manager details(Name, phone, email, designation)

Is KYC mandatory?
​KYC is mandatory to receive plan benefits. It's a crucial part of our support process, ensuring accurate identity verification.

How long will KYC verification take?
​You simply have to send us your documents; we will validate it at our end.

I haven't completed the waiting period but lost my job. Can I get any benefits?
​There is a waiting period after purchase before you can receive salary benefits, so you can't get your benefits for any event that happens during or before the period expires. The waiting period can vary, and is mentioned in the plan doc

I have deactivated my phone number; what do I do?
​If you've deactivated your phone number and don't know what to do next, don't worry! We're here to help. The best thing to do is to create a ticket with us, and our support team will help you out. You can also mail [email protected]

My advisor is not helping; what do I do?
​You can contact support by contacting us(the chat icon on your bottom right corner) or download our app to fulfil your requests. You can also mail [email protected]

How will you use the personal information that I enter on the app?
​Your personal information entered on the app is safe and used only for specific purposes like verifying salary, employment status, etc. We take data privacy seriously and have strict security protocols.

What personal information is stored by you?
​We only store your contact information and plan-related details. We use the highest security & encryption standards to protect data.

How do I report a security issue?
​We take security issues seriously and want to resolve them as soon as possible. If you've encountered a security issue or bug, please email us at support to report the issue, and our team will look into it and take the appropriate action.

How do I change my mobile number?
​To change your mobile number, you can raise a ticket, download our app and follow the steps instructed within the app to update your account information, or send a mail to [email protected].

Will the placement assistance be provided online or in person?
​Our Placement Guru will help you remotely

Is it possible to reduce the waiting period in the plan?
​Unfortunately, no. The waiting period before plan kicks in and being employed with a company for at least 180 days are mandatory requirements to be eligible for receiving benefits under the Income Protect plan. It is not possible to reduce the waiting period.

What amount will I get as the take-home salary after filling a claim?
​After filing a claim, you will receive your plan limit or 70% of 2 months' salary, whichever is less, split into 2 payments. Payment will be made to your bank account.

How long will the benefit payments continue?
​You will get the benefits of the income protect plan for 90 days or until you find another job, whichever comes first.

What documents do you need for a claim?
​After completing KYC, you'll need to provide your payslips and letter of termination to file a claim. The app will guide you through the claims process, making it easy and straightforward. If you have any questions or concerns about filing a claim, contact us by dropping a mail to [email protected] or raising a ticket.

When will I get my benefits?
​Benefits are disbursed within 45 days of the last working day or claim filing day, whichever is later. The next payment will occur 45 days after first payment

I was fired for __, will i still be able to claim?
​You are eligible to file a claim under the Income Protect plan if you were fired, as long as it meets the plan's terms and conditions. During the claims process, our team will verify the validity of your claim and check for any exclusions. We recommend reviewing the plan's coverage details to ensure you understand what is covered.

How do I claim my benefits?
​You can claim all the benefits via the income protect app, or contacting support.

Is my bonus included in the benefits?
​No, only the fixed component of your salary is included in the benefits. Bonuses or other variable components are not covered under the Income Protect plan. If you have any further questions about the coverage or benefits, feel free to contact us.

What deductions would be applicable on my salary payment?
​As per Indian law, your salary and other payments will be subject to a TDS deduction.

What is the maximum number of claims you can make in a year?
​You can make one claim per policy in a year.

What would be the mode of payment of the claims?
​The claim amount will be transferred directly to your bank account.

How long after job loss should I report a claim?
​Claims must be filed within a maximum of 14 days of the last working day. We recommend you report a claim immediately after you become aware of job loss, the moment you have your termination letter/notice.

How can I initiate a claim?
​You can download our app and follow the step-by-step instructions to get salary benefits after a job loss. The app will guide you through the entire claims process and our support team will process your benefits as quickly and efficiently as possible. You can also mail [email protected]

What is an emergency fund?
​Emergency Funds provided by income protect will include 3 months of your salary and extra benefits sent to your account every month.

When will I get the emergency fund?
​After you use up your 3 month salary payment benefit, if you are still unemployed, you will get your emergency fund; provided your plan covers it. Emergency fund is not available for all plans.

How long will I get the emergency fund?
​Salary payments will be made for up to 3 months, and emergency benefit will be split over 3 months after that. All the benefits are only receivable till the time you are unemployed; once you get a job the payments will stop.

Will I get the emergency fund if I get a job?
​No, benefit payments from the emergency fund are for those who are unemployed, and once you secure a job, the payments will stop.

What is included in the emergency fund?
​The emergency fund includes coverage for various expenses, and what is covered depends on the plan you have purchased. Each plan has specific sub-limits that can be used for emergency expenses.

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