Income Insurance Protection Plan
Is Your Income Insurance Protection Plan right for you?
There are many instances where people can benefit from an Income Insurance Protection plan from DG Mutual :-
- Those with family responsibilities
- Home owners looking to protect mortgage payments
- Anyone with regular monthly outgoings, such as loans, credit card payments, council tax and other bills
- Self-employed people whose income is entirely dependent on them working
- Those with full-time household duties, who may need to pay for help with things like childcare if they are incapacitated.
Thank you for taking the time to visit the members area of the Dentists’ & General Mutual Benefit Society Limited.
We hope you find the information about an income insurance protection plan within this section to be of interest to you. We would appreciate any comments or suggestions you may have.
- Financial Statement
- Payment Methods
- Capital Accounts
- Amend Your Cover
- Suspension of Membership
Our Financial Statement is available in pdf format, to read it you will need a copy of Adobe Acrobat Reader.
PC users, right click the link and choose ‘Save Target As’ to save it to your hard drive.
Mac users, hold your mouse button down and then select ‘Save Link as’ to save the file.
You can download the Acrobat Reader from here, alternatively it is often included on the CD coverdisks of Internet/Computer magazines.
The vast majority of members pay their subscriptions monthly by Direct Debit. Under the rules of the Society you can pay your subscriptions annually in advance and receive a discount [currently 2%].
There is the facility for members to make payments by either MasterCard or Visa credit cards using a continuous authority mandate. This method is most commonly used by our members in the Irish Republic. Currently there is a 1.75% charge for payment by this method.
In addition to the above you can also pay half yearly or quarterly by cheque or standing order.
If you require any further details or wish to notify us of a change to your banking details please email us at email@example.com, quoting your membership number.
As a member of the Dentists’ & General you share in the profits of the Society. A Capital Account is opened in your name and an apportionment, based on the number of shares/bonds, is added each year along with interest on the previous year’s balance. An Apportionment Certificate is forwarded each year stating your balance as at the end of the year.
The capital is designed to be paid out in full on retirement along with a terminal bonus. Under the rules of the Society a member may, subject to a forfeiture, withdraw all or part of their balance before retirement age. The Society requires two weeks notice of a member’s intention to make such a withdrawal.
For further information please email us at firstname.lastname@example.org, quoting your membership number.
You may nominate a person or persons to receive upon your death a sum not exceeding £5,000. All such nominations must be made in writing by yourself using our official Nomination Form and returned to this office. The person or persons you nominate must not, at the date of nomination, be an officer or employee of the Society unless that officer or employee is your husband, wife, mother, child, brother, sister, nephew or niece.
A nomination may be revoked or varied by yourself at any time by completing our official Nomination Form and returning it to this office, but a nomination is not revoked by a subsequent will.
The marriage of a member shall operate as a revocation of any nomination previously made by them.
To request a nomination form please email us at email@example.com, quoting your membership number.
Amend Your Cover
As a member of the Society you may wish to review your level of income insurance protection plan cover from time to time. Under the rules weekly cover is restricted to 66% of net pre tax income. Any other similar insurances currently held or applied for must be taken into account.
If you are unsure of your current level of cover with the Society or you require further details please email us at firstname.lastname@example.org, quoting your membership number.
Suspension of Membership
If you take up temporary residence outside the United Kingdom, you may apply to the Society for your membership to be held in suspense. Your monthly contribution would cease and you would not be eligible for Sickness Benefit or receive your annual Share Apportionment from the month you ceased to pay your contributions. You would, however be entitled to receive Capital Apportionment.
On returning to the United Kingdom you may, on production of a Medical Certificate of good health, recommence to pay your monthly contributions and you would then be entitled to Sickness Benefit and Share Apportionment as from the month you commence to pay your contributions.
In the event of a membership being held in suspense for 10 years the membership shall, be terminated if the committee so decides with any capital balance due, less any forfeiture, payable to the member.