I have a disability benefit plan with 2 options for the level of cover on offer: 55% or 80% of salary.
Does anyone know (roughly) the cost differential between the 2 options? My employer will pay for the cover but it come out of the % employer contributions for the DC pension scheme.
i.e. the bigger disability cover premium would reduce amount of employer contribution to pension fund.
I have put this query to the life company but they said it will take up to 4 weeks for the reply!
Other details: age 30, no dependants.
Does anyone know (roughly) the cost differential between the 2 options? My employer will pay for the cover but it come out of the % employer contributions for the DC pension scheme.
i.e. the bigger disability cover premium would reduce amount of employer contribution to pension fund.
I have put this query to the life company but they said it will take up to 4 weeks for the reply!
Other details: age 30, no dependants.