|
1. Who underwrites this mortgage policy?
This mortgage policy is underwritten by Brit Insurance Limited which is
authorised and regulated by the Financial Services Authority. The policy
is administered by 3xd limited.
back to the top
2. What is this mortgage policy designed to do?
This mortgage policy is designed to protect your normal monthly mortgage
re-payments, together with related life and household insurances, if you
are unemployed and/or incapacitated and unable to work.
back to the top
3. Can I have joint cover?
Yes, this policy does offer joint cover. .If two or more people wish to be
insured then they will need to make separate applications, where they can
either cover the full amount of the monthly mortgage payments or just a
proportion.
back to the top
4. What does Mortgage Start Date mean?
This means the date that the mortgage you are protecting under this
mortgage policy started.
back to the top
5. What does normal monthly mortgage payment
mean?
This means the monthly amount you pay each month to your mortgage lender.
If your mortgage allows you to make variable repayments then you should
calculate an average to assess your normal monthly mortgage payment.
back to the top
6. Can I take out this mortgage policy if I am
borrowing from a relative?
No. This mortgage mortgage policy only protects a mortgage agreement from
a recognised mortgage lender authorised by the Financial Services
Authority.
back to the top
7. What is the difference between this policy
and loan payment protection insurance?
This mortgage policy is designed to cover your monthly mortgage payments;
whereas loan payment protection insurance is designed to cover the monthly
amount you pay each month to a loan or finance company.
back to the top
8. How long will I be covered for?
This policy will provide, subject to the exclusions and eligibility
conditions, claims benefits for a maximum of 12 or 24months(dependent upon
period chosen); provided that you
remain unable to work and the policy End Date has not been reached.
back to the top
9. How much can I insure?
The maximum amount you can insure under this mortgage policy is £2000 or
65% of your gross monthly income.
back to the top
10. When am I eligible for cover?
You are eligible for cover under this mortgage policy if you meet certain
conditions. Full information is provided in section 4 of the
policy
summary.
back to the top
11. How long do I have to wait before this
mortgage policy covers me for unemployment?
This mortgage policy has an initial exclusion period of 60 days for
unemployment at the start of the policy during which you cannot make a
claim for unemployment.
back to the top
12. Will this mortgage policy give me
immediate cover if I transfer from another insurer?
Yes, under certain conditions this mortgage policy will provide you with
immediate cover if you transfer from another insurer.
back to the top
13. When does cover end?
This mortgage policy has an End Date when all cover and all benefits
cease, Full information is provided in the Certificate of Insurance on
issue of the policy.
back to the top
14. When can I claim if I am unemployed?
This mortgage policy will allow you to make a claim for unemployment if
you meet certain conditions dependent upon start date of the policy and
any excess periods chosen.
back to the top
15. When can’t I claim if I am unemployed?
This mortgage policy contains exclusions which mean that in certain
circumstances you cannot claim if you are unemployed. Full information is
provided sections 8 of the policy
summary.
back to the top
16. If I am self-employed are there any
restrictions?
Yes, if you are self-employed additional restrictions apply. Full
information is provided sections 8 of the
policy
summary..
back to the top
17. If I am a contract worker are there any
restrictions?
Yes, if you are a contract worker additional restrictions apply. Full
information is provided section 8 of the
policy
summary..
back to the top
18. Will I be able to claim if I am in receipt
of a payment in lieu of notice?
No, you cannot claim under this mortgage policy for any period during
which you are in receipt of a payment in lieu of notice.
back to the top
19. When can I claim if I am incapacitated?
This mortgage policy will allow you to make a claim for incapacity if you
meet certain conditions. Full information is provided sections 9 of the
policy
summary..
back to the top
20. When can’t I claim if I am incapacitated?
This mortgage policy contains exclusions which mean that in certain
circumstances you cannot claim if you are incapacitated. Full information
is provided in section 9 of the
policy
summary.
back to the top
21. Will this mortgage policy cover me if I
have got a pre-existing medical condition?
If you have a pre-existing medical condition then certain restrictions
will apply. Full information is provided sections 9 of the
policy
summary.
back to the top
22. Will this mortgage policy cover me if I
have a chronic condition?
If the condition is declared and accepted at outset by the underwriters,
any subsequent claim would be met. Any terms imposed would be declared in
the issued Certificate of Insurance.
back to the top
23. Does this mortgage policy contain any
other exclusion?
Yes, this policy contains other general exclusions. Full information is
provided in the
Policy Schedule. and the issued Certificate of Insurance.
back to the top
24. How do I make a claim?
Full information about how to make a claim is provided in the
Policy Schedule
back to the top
25. Can I make more than one claim?
Yes, you can make more than one claim under this mortgage policy. Full
information is provided in the
Policy Schedule.
back to the top
26. Can I change the nature of my claim?
Yes, it is possible to change the nature of your claim under this mortgage
policy. Full information is provided in the
Policy Schedule
back to the top
27. What is the cost of cover?
Apply for a quote
for mortgage payment protection insurance.
back to the top
28. Can I cancel this mortgage policy?
Yes, you can cancel this mortgage policy at anytime.
back to the top
29. What must I do if I need to complain?
If you need to complain about any aspect of this mortgage policy, or the
service provided to you, it is very easy. Full information is provided in
the section 15 of the
back to the top
30. How do I pay for this mortgage policy?
Premiums are payable each month by Direct Debit.
back to the top
31. Can I transfer my benefit under this
mortgage policy to another person?
No, benefits under this mortgage policy cannot be assigned to a third
party.
back to the top
32. Am I entitled to compensation if the
Insurer is unable to meet its liabilities?
Yes, under this mortgage policy you are entitled to receive compensation.
Full information is provided in Section 15 of the
policy
summary.
back to the top
33. Is my personal information safe?
Yes, under this mortgage policy your personal information is safe. We are
committed to maintaining your personal data in accordance with Data
Protection legislation.
back to the top
34. What if I have another question?
If you require further information or if you have another question please
don’t hesitate to contact us in the following ways:
We are here to help, so please don’t hesitate to
contact us.
back to the top
Polite warning:
It is your responsibility to ensure that any mortgage policy is suitable
for your needs. It is therefore very important that you read all policy
information carefully, to enable you to make an informed decision about
its suitability.
back to the top
|
