Short-Term Disability — replacing 100% of your annual salary for up to 13 weeks

Long-Term Disability — replacing 75% of your salary (less ESA and WRAC), up to a maximum salary of £144,000 less basic single person’s state incapacity benefit. The benefit may increase up to 3% each year. This insurance pays benefits if you are ill or injured and, as a result, cannot perform the material and substantial duties of your normal occupation, nor any other job whether within or outside of PayPal.

PayPal pays the full cost of providing these benefits, so there’s no cost to you. They do not count as a benefit in kind, so you do not pay tax on the insurance premiums paid on your behalf.

PayPal’s disability cover provides you with a regular income if you are incapable of undertaking work because of long-term illness or injury. You’re automatically provided with this cover at no cost to you. The benefit is provided through a Group Income Protection insurance policy and insured by Unum. In the event of a claim, the wording of the insurance policy itself will apply, not what’s summarised here.

Eligibility and enrolling

All employees aged 16 or older but not within 13 weeks of the terminal (State retirement) age are eligible.

You will automatically be enrolled from the first day you meet the above criteria, provided you are actively at work in your normal occupation, meaning:

• You have not received medical advice to refrain from work
• You are working your normal number of hours required by your contract of employment, either at your normal business address or a location at which you are required to travel for business

How disability cover works

The full level of benefit payable is 75% of your scheme salary less the Employee Support Allowance (ESA) and Work Related Activity Component (WRAC) payable to you by the State. You will need to claim ESA and WRAC directly from the State. Find more information at direct.gov.uk.

If you have a salary which exceeds a specified level (known as the Free Cover Limit), the insurer will require you to provide medical evidence (known as medical underwriting) due to the level of benefit that will be insured. We will contact you if medical underwriting is required.

As a result of medical underwriting, the insurer may choose to apply special terms to your benefits which exceed the insurer's limit.

There are no exclusions under this policy, and you will be covered for all serious illness or disability caused by accidents, unless the insurer advises you of an exclusion as a result of medical underwriting.

Receiving benefits

Benefits are paid by the insurer to PayPal. The Company will treat the benefit as salary, and it will be subject to normal tax and national insurance deductions, as well as any pension contributions that may be payable.