THE IMPORTANT STUFF
What is MPPI
It provides a monthly sum limited to your monthly mortgage repayment with up to
an additional 25% extra to cover other additional household expenses to protect
you against loss of income due to accident, sickness or unemployment.
There are other providers of Payment Protection Insurance and other products designed
to protect you against loss of income. For impartial information about insurance
visit www.moneyadviceservice.org.uk
Maximum benefit Amount
This tax free monthly payment is the amount that covers your mortgage payments up
to £1500 or 65% of your gross monthly salary; whichever is the lesser. You
can also have up to an additional 25% on top of your mortgage payment to cover related
household expenses such as domestic bills, insurance, etc.
Benefit Period
This is the maximum number of months you could claim, subject to the Terms and Conditions,
for any one period of accident, sickness or unemployment. We offer 12 month benefit
period.
You can make multiple claims for the life of the policy but there is specific criteria
relating to this that is dealt with under "Claiming".
Exclusion Period
Click here for the Policy Wording Extract
This is a period of time from the start date of the policy during which, should
you be made unemployed or be aware of impending unemployment, you would not be eligible
to claim for that period of unemployment.
Payment Protection policies all have an initial exclusion period for redundancy
claims (this does not apply to Accident & Sickness) and the length varies from
provider to provider.
Our initial exclusion period is:
Waiting Period
This is the number of days you must be continuously off work through accident, sickness
or unemployment before a claim can be made. If you are not off work for a minimum
of 30 continuous days you will not be able to claim.
Benefit will be paid monthly in arrears (ie backdated to the first day of that 30
day period). Subsequent payments will be calculated on a daily basis and paid monthly
in arrears.
If you choose an excess period this will extend the Waiting Period by the excess
period selected and will be shown on your Policy Documents.
A zero excess period (Back to Day 1) does not extend the Waiting Period and successful
claims are paid back to Day 1.
Excess Period?
This is the number of days at the start date of your claim for which no benefit is
payable and during which time you must be continuously off work. If you choose an
Excess Period of 30, 60, 90 or 180 days this will extend the 30 day Waiting Period
(see above) by the Excess Period selected.
This choice is made by you during the application process and you can choose for
each individual cover type selected (Accident & Sickness and/or Unemployment).
A 30 day excess period extends the waiting period to 60 days and successful claims
are then backdated to day 30.
A 60 day excess period extends the waiting period to 90 days and successful claims
are then backdated to day 60.
Further examples of Excess Periods and how it extends the Waiting Period is shown
below:
|
Excess Period
|
Waiting Period
|
|
0 (Back to Day 1)
|
30
|
|
30
|
60
|
|
60
|
90
|
|
90
|
120
|
|
180
|
210
|
Transferring your existing Policy
A free, simple on-line process that is built into the standard online application
process.
When prompted during the application, simply confirm that you have an existing payment
protection policy in force and that you can meet the eligibility criteria:
- Had your existing policy for 6 months or more
- Applying for the same benefit amount as existing policy
- Apply for the same excess period as existing policy
- Existing policy is still in force and has not been cancelled
- Existing policy has been claims free for the previous 24 months
- Able to confirm above and provide name of existing insurer
Cover is not granted until you receive confirmation in writing. No changes to benefit
amount or excess period accepted within the first 120 days of your new policy. You
may be asked to provide a copy of your previous insurance schedule at claim stage.
UNEMPLOYMENT EXCLUSIONS
All Payment Protection policies have exclusions and it is really important you are
aware of them. Our ethos is complete transparency and customer friendly navigation
so please read the relevant extract from the Easy Read Policy Wording where supplied.
Impending redundancy
Click here for the Policy Wording Extract
If you are aware of impending redundancy either before or during the initial exclusion
period.
Significant unemployment exclusions
Click here for the Policy Wording Extract
These include: If your unemployment is voluntary, if the work is seasonal or temporary,
for any period you receive payment in lieu of notice, as a result of civil disorder,
because of your own misconduct, negligence or breach of contract and for any period
where you are not registered with the DWPS. If you are ineligible for Job Seekers
Allowance, we will waive the requirement to be in receipts of this provided you
are receiving National Insurance Credits.
Note: Self-employed, Contract and Subcontract workers have specific exclusions
that are covered independently.
Self-Employed/Sub Contractor/Employed by a member
of your family
Click here for the Policy Wording Extract
The Terms and Conditions in relation to Accident & Sickness are the same for
all policy holders but specific criteria apply for claiming Unemployment.
A significant exclusion is that your business must have been registered as having
ceased to trade with the HM Revenue and Customs as a direct result of Business Failure.
Please read the Click here for the Policy Wording
Extract for the full exclusions.
Contract Worker
Click here for the Policy Wording Extract
The Terms and Conditions in relation to Accident & Sickness are the same for
all policy holders but Unemployment claims cannot be made unless you have been:
A Contract Worker employed continuously by the same employer for at least 2 consecutive
years or
A Contract Worker employed on a fixed-contract for at least 13 weeks with the same
employer but for less than 2 years when you will be insured until the end of your
contract but not for non-renewal of your contract
Please read the Policy Wording for the full exclusions
Accident or Sickness Exclusions:
Click here for the Policy Wording Extract
Significant exclusions include AIDS, self-inflicted injury, alcohol or drugs
related, operations or treatments not medically required.
There are specific limitations relating to Pre-existing conditions (see explanation
in next point), chronic condition (see following explanation), mental or nervous
disorder, backache or back related conditions, normal pregnancy or childbirth unless
there are medical complications and these are dealt with in ?Claiming?
Pre-existing Condition
Click here for the Policy Wording Extract
A condition, or illness, that you were aware of at the start date of the policy
or have received treatment for during the 12 months immediately prior to the start
date of your policy.
This exclusion is waived if you have been symptom free for a period of no less than
24 months before the start date of any claim.
Chronic Condition?
Click here for the Policy Wording Extract
A Chronic Condition has at least one of the following characteristics:-
- it continues indefinitely; or
- it is constant and is controlled rather than cured; or
- it has symptoms which recur and have required consultation, treatment or care in
the past; or
- it requires long-term monitoring or treatment, consultations, check-ups, examinations
or tests
POLICY HIGHLIGHTS
Cover Options
Combined Accident, Sickness and Unemployment cover will protect against loss of
income due to Involuntary Unemployment, Accident or Sickness or you can just choose
Accident & Sickness cover only.
We do not offer Unemployment Only cover but because we uncouple the excess periods
for unemployment and accident and sickness, it is possible to choose a long excess
period for the Accident and Sickness part of the Policy but have Back to Day 1 (0
Excess) for the Unemployment part.
Use our Quick Quote to compare premium rates.
Individual flexible Excess Periods
Traditionally when you buy an Accident, Sickness and Unemployment Policy your chosen
excess period must apply to both the Accident/Sickness and Unemployment covers,
even though you may need them at different times.
Ant’s Lifestyle Protection Insurance allows you to tailor your policy so your individual
covers can be paid at varying times depending on your circumstances and significantly
reduce your premiums.
Example: If you have 3 months company sickness benefit and are eligible for
one month payment in lieu, you are more likely to want to choose a 90 day excess
period for accident & sickness but a 30 day excess period for unemployment.
By using this flexibility you can reduce your premiums considerably and only pay
for what you actually need.
If you receive Company Sickness benefit
Some providers will not pay you benefit whilst you are in receipt of company sick
pay but with this policy we do.
However if you want to reduce your premiums you can use the Accident & Sickness
excess period to begin payments after your company sick pay benefit has ceased which
can considerably reduce your premiums.
Back Conditions
You can claim for back related conditions but there are specific claiming criteria.
Please see “Claiming” for full details
Pregnancy
You may be able to claim for certain pregnancy related condition but specific limitations
do apply. Please see “Claiming” for full details.
New Deal for Disabled People
If you are claiming under the Accident & Sickness provision of this Policy and subsequently
find part-time work of less than 16 hours per week through NDDP (New Deal for Disabled
People) you will still be able to claim under this policy as long as you are in
receipt of Employment & Support Allowance and the part time work is for less hours
than those worked prior to your claim.
If you have more than one job
Click here for the Policy Wording Extract
If you have more than job you will be eligible to claim unemployment should you
lose at least one job, providing:
- You are working in your remaining job for less than 16 hours per week and
- You are able to register with the Department for Work & Pension for Job Seekers
Allowance (JSA) and provide evidence of actively seeking work.
Special conditions apply if you are a Company Director.
ELIGIBILITY CHECKLIST
Criteria:
Click here for the Policy
Wording Extract
You must be:
- A UK resident (and able to register as unemployed with the Department of Work and
Pensions.
- Over the age of 18 and under the age of 64 (benefit ends at age 65)
- Actively in work for 16 hours or more per week and have been so continuously for
the previous 6 months.
- A named party to a Mortgage agreement on your main residence, which is not in arrears.
You must not be:
- In casual, temporary or seasonal employment
- Currently unable to attend your normal place of work due to an accident or sickness
unless you are on maternity, paternity, adoption or parental leave
- Aware of any impending accident or sickness
Most importantly: You must not be aware of any impending unemployment
Pre-existing Condition
Click here for the Policy
Wording Extract
You will not be able to claim for any condition or illness that you were aware of
at the start date of the policy or have received treatment for during the 12 months
immediately prior to the start date of your policy.
This exclusion is waived if you have been symptom free for a period of no less than
24 months before the start date of any claim unless the condition is a chronic condition.
Chronic condition?
Click here for the Policy
Wording Extract
You cannot claim for any Chronic Condition that you were aware of prior to your
application or prior to any application to increase your benefit.
Other Payment Protection Policies.
Click here for the Policy
Wording Extract
If you have other insurance which provides the same cover, or partial cover, then
we may seek to share the cost of the claim with the other Insurance Company. In
these circumstances you may be entitled to a refund of any excess premium you may
have paid.
The maximum benefit payable for accident, sickness or unemployment, when added to
any other accident, sickness or unemployment benefit being paid that month under
a Policy underwritten by us or any other insurer is 75% of your gross monthly income.
YOUR POLICY
Cancellation
Click here for the Policy Wording Extract
You have the right to cancel this policy at any time. If you cancel within 30 days
of receiving your Policy Documents you will receive a full refund of any premiums
paid. You will not be entitled to a refund if you have made a successful claim in
this period.
What happens if my circumstances change
Click here for the Policy
Wording Extract
You should notify us of any significant changes that may occur, such as living or
working outside the UK, as this may affect your ability to claim.
Will I receive my full benefit?
The benefits payable are based on your average salary earnings during the 12 months
leading up to a claim; this may be different to the figure you gave when you applied
for cover. So if your salary reduces you should notify the insurer to make sure
your premium is amended so you are not paying for cover you cannot claim.
Can the Insurer increase my premium?
Click here for the Policy
Wording Extract
In line with virtually all insurance policies no insurer can guarantee that premiums
will not rise. Therefore the premiums are reviewable and the insurer can change
the premiums payable by giving you 60 days written notice at your last known address.
The insurers must provide you with reasons for any change in premium payable.
Should this occur and you find a cheaper policy elsewhere, it is worth remembering
that most providers will allow you to transfer to them and will usually waive the
exclusion period. However every provider is different so you should check this is
the case before you switch.
How will I know when my application has been accepted?
When you submit an application for cover on-line, including completion of a direct
debit mandate, this means you have applied for a policy. We look at each one individually.
Applications are underwritten and you may be asked for additional information. However,
we undertake not to debit any premium from you’ your account until we confirm in
writing that your application has been accepted by the Underwriters and you have
been placed on cover.
The cover on any existing policy you may have should be maintained until you have
written confirmation that your new policy is in force.
When will you stop paying my benefit?
Click here for the Policy
Wording Extract
Your cover will be automatically renewed each month provided your premium is paid
and accepted. However your policy will automatically terminate following the earliest
of certain dates. See the Policy Wording
CLAIMING
Accident & Sickness
Click here for the Policy Wording Extract
A claim is calculated from the date you are first signed as unfit for work by a
Doctor. Benefit is paid monthly in arrears.
If you have chosen Back to Day 1 (“0” excess period) you need to be totally unfit
for work for the duration of the Waiting Period (30 continuous days). At the end
of this period we will pay one monthly benefit.
If you have chosen a 60 day excess period you must be totally unfit for work for
90 days. If you are still unable to work after that period we will pay you one monthly
benefit backdated to day 60.
Please note that no benefit is payable for the duration of the chosen Excess Period.
Unemployment
Click here for the Policy Wording Extract
A claim is calculated from the date you first register with the Department for Work
and Pensions as being unemployed. Benefit is paid monthly in arrears.
Examples for claiming for Back to Day One or following a 60 day Excess Period are
explained in the Accident & Sickness section above.
Carer Cover
Click here for the Policy Wording Extract
Carer cover is only available if you have selected unemployment cover. The maximum
benefit payable under the Carer Cover provisions of this Policy is a single payment
of 12 times your chosen monthly benefit. Once a benefit has been paid the Carer
Cover benefit of this policy will end.
Pregnancy issues
Click here for the Policy Wording Extract
Normal pregnancy and childbirth related conditions are excluded. If the claim against
your policy is for a pregnancy or childbirth related condtio we may refer to a specialist
doctor for an opinion as to whether the condition can be classified as normal.
Multiple Claims for Accident & Sickness
Click here for the Policy Wording Extract
You can make multiple claims for the life of this policy. However to make
a multiple claim you must return to work for a period of time between claims.
- If you have not received benefits for the maximum benefit period (as shown on your
insurance schedule), where two periods of an accident or sickness are separated
by 3 calendar months or less, we will treat this as one continuous claim.
- If your Accident or Sickness results from the same cause or condition as a previous
claim, you must have returned to work for a continuous period of at least 6 months
before you can make a further claim for accident or sickness.
Subject to the above two paragraphs, you will not be entitled to accident and sickness
benefits until you have returned to continuous work for at least 1 month.
Multiple Claims for Unemployment
Click here for the Policy Wording Extract
You can make multiple claims for the life of this policy. However to make
a multiple claim you must return to work for a period of time between claims.
- If you have not received benefits for the maximum benefit period (as shown on your
insurance schedule), where two periods of unemployment are separated by 6 calendar
months or less, we will treat this as one continuous claim.
- If you have previously claimed unemployment for the maximum benefit period (as shown
on your insurance schedule), you must have returned to work for a continuous period
of 6 months or more before you can make a further claim for unemployment.
- Whilst unemployed you may take temporary work and your claim will be suspended.
Provided your temporary work does not continue for more than 6 months, your claim
will resume as if you had one continuous claim.
Claiming limitations
Click here for the Policy Wording Extract
You cannot claim:
- For Accident & Sickness and Unemployment at the same time
- If you have another insurance with the same cover (then we may seek to share the
cost of the claim with the other insurance provider)
- If you have received a benefit which under the Carer Cover section of this Policy
(under certain conditions)
Benefit payment
The benefit of a successful claim is paid monthly in arrears. The benefit will be
paid directly into the bank account that the Direct Debits are collected from. These
benefits are currently tax free.