Income protection that gives back to its policyholders - get 15% off your first two years

Protect your savings while building a lump sum for your future.

What is income protection - and why does it matter?

Like everyone else, you have monthly overheads. Rent or mortgage payments, insurance premiums, the weekly food shop. You name it. But have you considered how you would cover your overheads if you were suddenly unable to work due to extended illness or injury? Nobody likes to consider the unexpected, but it can happen to anyone - from sports injuries to freak accidents to complex viruses.

Most employers have a limit on the amount of sick pay you can claim, if any. After that you are left to rely on the government’s Statutory Sick Pay: £92.05 per week^. Self-employed? You would need to apply for Employment and Support Allowance: £57.90 - £110.75 per week^ depending on your circumstances.

Be honest with yourself. Would those figures cover your monthly expenses? If not, you could find yourself denting your savings or applying for a loan. But with PG Mutual you can get cover for up to 70% of your income if you are unable to work through sickness or injury. So you can concentrate on getting better, with the peace of mind that your overheads are taken care of. And there’s more...

Protect your present, build for your future

Income protection with PG Mutual isn’t like other insurance policies. As a not-for-profit, they share their profits with their policyholders. When you join you will be assigned a capital account that they aim to top up year-on-year. PG Mutual even add interest from their investments to help the pot grow faster.

Once your policy matures, the funds in your capital account can be paid to you as a lump sum. This lump sum could be free from income and capital gains taxes under current legislation (depending on your individual circumstances). No matter how many times you claim you will still receive a share of any profits they make.

Why choose PG Mutual?

  • Save 15% on your first two years of premiums
  • Up to 70% of your income (or up to £1200 per week) can be covered until you are well enough to return to your career (or reach age 65, whichever comes first)
  • Simple online claims process with some claims paid within 24 hours
  • Between 2015 and 2017 they paid out on 98% of claims, totalling £1.44 million
  • No penalties, excess payments or premium hikes if you make a claim
  • Unlimited claims for the duration of your policy
  • Build towards a lump sum that you receive when your policy matures

Everyone likes a little extra...

New additions to PG Mutual’s policies mean you get even more for your money as a policyholder.

Enhanced Loyalty Bonus protects your nearest and dearest

PG Mutual policyholders can now receive an Enhanced Loyalty Bonus* that aims to provide your loved ones with a minimum capital sum of £10,000 as well as six months of income cover if you die before the maturity of your policy.

Taking care of your mental and physical health just got easier...
You can also benefit from free use of a 24/7 app-based GP service**. It puts healthcare in the palm of your hand with instant access to a GP - anytime, anywhere. A confidential telephone counselling service is also available whenever you feel the need to talk.

Save money on thousands of products - every time you shop*
Treat yourself to the latest tech gadgets. Conquer your fitness goals. However you spend your money, you can do it for less as a PG Mutual policyholder. Access current discounts or cashback deals with a range of top brands including Currys PC World, M&S and Virgin Active.

Locum Key has negotiated a 15% discount on your first two years’ premiums.*

For details of this special offer visit and enter discount code ‘LKEY’ or call 0800 146 307.

^Under current legislation, DWP, April 2018.
*This applies to existing members as well. Terms and conditions apply. See
**This service is currently free of charge with your membership.

PG Mutual is the trading name of Pharmaceutical and General Provident Society Ltd. Registered office: 11 Parkway, Porters Wood, St Albans, Hertfordshire AL3 6PA. Incorporated in the United Kingdom under the Friendly Societies Act 1992, Registered Number 462F.
Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, Firm Reference Number 110023.

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