Waves Income Replacement by Yachting Financial Solutions

Safeguard your income, so you can still carry on with your life
—even when you can barely carry yourself

Imagine losing your ability to work. Either temporarily due to illness, or permanently due to disability. For most of us, that would mean losing our income too. And in that event, how would you cover your bills—in the short term and in the long term?

Even if you are able to start working again, will you be able to pick up your career where you left off, or will you need to find another, less well paying job?

What is income replacement?

Income replacement provides you with money in the event of an accident or an illness that prevents you from working in your usual occupation. Whether it’s temporary or permanent.

You are paid a lump sum of up to 10x your annual salary in the event of permanent disability (with a limit of £1 million/$1 million/€1 million, depending on the currency you select. You can also choose to add cover that will provide you with a weekly sum up to 75% of your weekly salary for up to 1 or 2 years in the event of temporary disablement or illness.

Income replacement fit for superyacht crew

Key Benefits:

  • Available to crew on board superyachts larger than 24m
  • Lump sum for permanent disability (up to a maximum of 10x your annual salary up to £1 million/$1 million/€1 million, depending on the currency you select)
  • Optional weekly benefit for temporary disability (up to 75% of your weekly salary for up to 1 or 2 years)

We’ve teamed up with Expatriate Group, specialists in insurance for expatriates, to bring you income protection insurance that genuinely meets the needs and lifestyle of crew onboard superyachts today.

Financial peace of mind for you when you’re unable to work

Income replacement protects you and your dependents by giving you with a lump sum payment if you can’t do your normal job due to accident or illness. You can extend the policy so you get a weekly benefit if your time away from work is temporary.

Permanent disability insurance

What would you do if an accident or illness permanently meant you couldn’t do your normal job? Would you be able to pick up an alternative occupation? What would happen to your earning potential?

Waves Income replacement insurance pays you a lump sum up to 10x your annual salary in the event that you are unable to work in your normal occupation permanently due to an accident or an illness. It secures the financial future for you and your family and puts your destiny back in your hands.

Temporary disability insurance

You don’t have to be permanently disabled to suffer financial loss. Short- or long-term disability through accident or illness is likely to affect your income and your ability to pay your bills.

Waves Income Replacement provides a number of choices to allow you to tailor cover to match your own personal circumstances. Benefits are payable weekly and can start from as soon as the 30th day of your disability. They can be payable for up to 2 years.

Get a personalised, competitive quote today.

You’ll need to insert a country of residence. If you are at sea, it’s where the boat is flagged (i.e. Cayman Islands). If you aren’t at sea, it’s wherever you are based.

Please note: You will be transferred to the Expatriate Group site for a quotation. They will also send us a copy, so we can help with any queries.

Download the PDFs

Please note that while we endeavour to make sure policy wording and terms of business documents are up to date on this website, you should check the current documents on the Expatriate website and in their communications to you for the exact details of your policy.

Frequently Asked Questions

If you become permanently disabled, you will receive a lump sum of up to 10 times your gross annual salary (up to a maximum of $1 million/£1 million/€1 million, depending on the currency you select).

If you are temporarily disabled benefits can start from as soon as your 30th day of disability. The amount will be calculated based on your net weekly salary at the time your cover is purchased (up to a maximum of 75% of your gross salary). Benefits can be received for up to 2 years.

The permanent total disability benefit is payable as a lump sum of up to a maximum of 10x your salary or $1 million/£1 million/€1 million, depending on the currency you select.

You can choose a maximum benefit period of either 52 or 104 weeks for the temporary disability benefit.

If you are working and aged between 18 and 65 years old you can purchase our income protection. Restrictions may apply to some countries, which will be noted to you as part of the application process.