Choosing your cover options

You can choose to have a benefit with:

Level cover – this means that the benefit amount and your premiums remain the same throughout the benefit term. You always know what your pay-out will be and it can be used, for example, to protect an interest only mortgage.

Decreasing cover – this means that the benefit amount reduces each month similar to the way a repayment mortgage works.

Although premiums are the same throughout the policy, they start out lower than level or increasing benefit amounts. We will assume a fixed rate of interest of 10% a year. There may be insufficient funds to repay the loan if the interest rate on the mortgage or loan exceeds 10% or the loan is increased or extended.

Increasing cover – this means that the benefit amount automatically increases each year in line with the Retail Price Index (RPI). The increases will be at least 2% up to a maximum of 10%. At the same time, your premium will increase at a higher rate than the increase in benefit amount.

If you choose Critical Illness with Life Cover, your premiums are reviewable every 5 years. Please refer to the Key Features for further details.

Premium Protection on a policy gives you cover for your premiums for that policy so you don’t have to pay them if you suffer a disability which leaves you unable to work. We will start to pay the premiums for you after 26 weeks. This option can only be added, at an additional cost, at the time you take out the policy. Premium Protection is not available on Lifetime Cover when the benefit amount is for £15,000 or less.

We will continue to pay the premiums until you return to work, reach age 66, or the policy ends, whichever is sooner. This helps to safeguard your policy and your protection.

Please note that once selected, Premium Protection can’t be removed.

For more details see

Putting your policy in Trust

Find out more information here.

Free cover options

We will only pay once under any type of free cover in respect of the same person. The policy will end if we pay out the free cover amount.

90 Days’ Mortgage Free Cover

You will be covered instantly from the date we receive your fully completed application, direct debit and you’ve exchanged contracts (concluded missives in Scotland). This means we could pay the initial amount applied for up to a maximum of £250,000 on death, terminal illness or critical illness, depending on which of these you have applied for. Any claim must meet the claims criteria for both the benefit applied for and the 90 Days’ Mortgage Free Cover. Mortgage Free Cover continues until the earlier of:

the start date of the policy applied for
the date any claim is made
the date on which we inform you of whether or not we accept the application
90 days after we receive the application

To be eligible for 90 Days’ Mortgage Free Cover, you must:

be aged 59 or under when you apply
be a UK resident (meaning England, Wales, Scotland, Northern Ireland but not the Isle of Man or the Channel Islands),and
not have, or be in the process of applying for, similar cover with another insurance company

See our Mortgage Free Cover guide for more details.

30 Days’ Free Accidental Death Cover

The 30 day free cover period starts from the date we receive your fully completed application and direct debit. If an accident happens within this 30 day period, and you die within 60 days of the date of the accident, we could pay out the initial amount applied for up to a maximum of £250,000 if the claims criteria for both the benefit applied for and 30 Days Free Accidental Death Cover are met.
Accidental Death Cover continues until the earlier of:

the start date of the policy applied for
the date any claim is made
30 days after the start date of Free Accidental Death Cover

To be eligible for Free Accidental Death cover you must:

be aged 59 or under when you apply
be a UK resident (meaning England, Wales, Scotland, Northern Ireland but not the Isle of Man or the Channel Islands) and,
not have, or be in the process of applying for, similar cover with another insurance company

See our Free Accidental Death Cover guide for more details.

What next?

If you have more questions our FAQs may well answer them. Otherwise, please call us on 0845 767 8910.

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