The main benefits and features of the policy

Why you should choose this policy?

This Mortgage Payment Protection Insurance 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 this Mortgage Payment Protection Insurance 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 this Mortgage Payment Protection Insurance 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 this Mortgage Payment Protection Insurance 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 Mortgage Payment Protection Insurance policy has been in force for at least six months and you have not made a claim under that Mortgage Payment Protection Insurance policy.

The main benefits and features of the policy

This Mortgage Payment Protection Insurance has been designed to overcome the consequences of unemployment and disability and to provide the following benefits:

• 3 MONTHS FREE COVER for both new and existing mortgage borrowers.
• Highly competitive premiums starting at just £2.45 after the FREE COVER period.
• Back-to-Day-One benefits payable after only 30 days.
• Tax free benefits are payable for up to 12 months.
• You can choose Unemployment only cover or disability only cover.
• The self-employed and contract workers are also eligible for cover.
• This Mortgage Payment Protection Insurance can be transferred from one mortgage lender to another.
• Simple application procedure and convenient monthly direct debit payments.
  

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 this Mortgage Payment Protection Insurance 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 this Mortgage Payment Protection Insurance policy terms and conditions).

When you can make a claim

You will normally be able to make a claim under this Mortgage Payment Protection Insurance 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 Mortgage Payment Protection Insurance 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 Mortgage Payment Protection Insurance policy are collected monthly in advance by direct debit. Your first premium will become due in the month immediately following the FREE COVER period.

MONTHLY PREMIUM RATES

The costs of cover are expressed as a rate per £100 of monthly benefit and include Insurance Premium Tax.

Working out your monthly premium under the policy

To work out your monthly premium, simply click here for an instant quote.

Eligibility for this Mortgage Payment Protection Insurance

You are eligible for cover under this Mortgage Payment Protection Insurance policy if you satisfy the following criteria:

• you are at least 18 and under 65 and you are permanently resident and working within the UK, Channel Islands or Isle of Man and eligible to receive Jobseeker's Allowance;
• you are now and have been for the past six months in continuous permanent employment, contract employment or self-employment for more than 16 hours per week;
• you are taking out this Mortgage Payment Protection Insurance policy to protect the mortgage on the private residential property you live in; and
• you agree to keep to the terms and conditions of this Mortgage Payment Protection Insurance.
• However, there are some factors which mean you will not be eligible for cover:
• you know, or you are aware, of any circumstances that may result in you becoming unemployed;
• your work is of a casual, temporary or seasonal nature;
• you work for a temporary employment agency;
• you are in any type of occupation where unemployment is a regular feature of that particular job; or
• you are currently unable to work due to a disability (this clause does not apply if you are on maternity leave).