Accident & Sickness Insurance
Key Features
Policy Wording
Why
you should choose this policy?
This policy will help you to protect your mortgage payments and insurance
premiums for up to 12 months if you become unemployed or suffer a disability
(accident or sickness).
If
you are taking out the policy to protect a new mortgage or re-mortgage
you will receive the first three months cover completely FREE OF CHARGE.
If
you are taking out the policy to protect an existing mortgage, then subject
to the unemployment exclusion detailed below, you will receive the first
three months cover completely FREE OF CHARGE.
Unemployment Exclusion – if you are taking out the policy to protect
an existing mortgage, you will not be covered against any unemployment,
which occurs during the free cover period. This exclusion will not apply
if you transfer your cover from another insurer; provided your existing
policy has been in force for at least six months and you have not made
a claim under that policy.
The main benefits and features of the policy
- It
provides full unemployment and disability cover. Unemployment only cover
or disability only cover is available at a reduced cost.
- Free
cover benefits for both new and existing mortgage borrowers.
- Competitive
premium rates after the free cover period.
- Back-to-Day-One
benefits payable after 30 days.
- Claim
benefits are paid for up to 12 months.
- It
covers employed and self-employed applicants.
- Simple
application procedure (no medical required).
- Cover
can be transferred from one lender to another.
How
the policy works
- You
choose the amount of monthly cover you need.
- You
choose the type and level of cover you need.
- You
pay your premium as it falls due.
- We
pay a fixed monthly benefit for up to 12 months if you are unemployed
or disabled for longer than the waiting period.
Important
note – the maximum amount of monthly cover you can take out under
the policy (including the 25% additional benefit) is either £1,500,
or a sum equal to 65% of your normal income, whichever is the lower (the
definition of normal income is contained within the policy terms and conditions).
When
you can make a claim
You
will normally be able to make a claim under the policy if:
- you
have lost your job due to circumstances beyond your control and you
are registered as being unemployed; or
- you
are unable to work due to a disability and you are under the regular
care and attention of a doctor or consultant.
There
are certain circumstances when you will not be able to make a claim. Details
of all the exclusions are provided in the policy terms and conditions.
The
cost of cover
The cost of cover after the FREE COVER period will depend on:
- the
amount of monthly cover you need;
- the
type of cover you select;
Premiums
for cover under this policy are collected monthly in advance by direct
debit. Your first premium will become due in the month immediately following
the FREE COVER period.
Click here for the Policy Wording.
Check the Claims Procedure.
MONTHLY
PREMIUM RATES
The
costs of cover are expressed as a rate per £100 of monthly benefit
and include Insurance Premium Tax.
