Loan payment protection insurance
Loan Payment Protection Insurance - Jargon buster
In order to provide an explanation of the often complex words and phrases contained with the loan payment protection insurance section of britishinsurance.com, we have provided a jargon buster to provide assistance with your understanding:
Accident – This is considered under loan payment protection insurance from britishinsurance.com as a sudden event that could not be expected. A supplementary description may be seen at Section 4.1 of the insurance wording.
Agreement - This is considered under loan payment protection insurance from britishinsurance.com as the loan contract granted to you. A supplementary description may be seen at Section 4.2 of the insurance wording.
Chronic condition - This is considered under loan payment protection insurance from britishinsurance.com as a long-term incurable condition that is excluded by this policy. A supplementary description may be seen at Section 4.4 of the insurance wording.
Condition - This is considered under loan payment protection insurance from britishinsurance.com as any sickness, injury, disease or illness. A supplementary description may be seen at Section 4.5 of the insurance wording.
Contract worker - This is considered under loan payment protection insurance from britishinsurance.com as any person employed on a fixed term contact. A supplementary description may be seen at Section 4.6 of the insurance wording.
Control - This is considered under loan payment protection insurance from britishinsurance.com as the power to exercise influence over the affairs of a company. A supplementary description may be seen at Section 4.7 of the insurance wording.
End Date - This is considered under loan payment protection insurance from britishinsurance.com as the date your cover ends. A supplementary description may be seen at Section 4.9 of the insurance wording.
Employed - This is considered under loan payment protection insurance from britishinsurance.com as undertaking any work including self-employed work for more than 16 hours a week. A supplementary description may be seen at Section 4.10 of the insurance wording.
Exclusion period - This is considered under loan payment protection insurance from britishinsurance.com as the initial period during which you are unable to make a claim. A supplementary description may be seen at Section 4.11 of the insurance wording.
Gross monthly income - This is considered under loan payment protection insurance from britishinsurance.com as your monthly income before tax. A supplementary description may be seen at Section 4.12 of the insurance wording.
Incapacity - This is considered under loan payment protection insurance from britishinsurance.com as a being unable to work as a result of an accident or sickness. A supplementary description may be seen at Section 4.14 of the insurance wording.
Incident Date - This is considered under loan payment protection insurance from britishinsurance.com as the date you become unemployed or incapacitated. A supplementary description may be seen at Section 4.15 of the insurance wording.
Insured – This is considered under loan payment protection insurance from britishinsurance.com as you the policyholder. A supplementary description may be seen at Section 4.16 of the insurance wording.
Lender - This is considered under loan payment protection insurance from britishinsurance.com as the loan or finance company who has provided you with the credit. A supplementary description may be seen at Section 4.17 of the insurance wording.
Misconduct - This is considered under loan payment protection insurance from britishinsurance.com as a being dismissed by your employer for discriminatory or otherwise unacceptable behaviour. A supplementary description may be seen at Section 4.18 of the insurance wording.
Monthly benefit(s) - This is considered under loan payment protection insurance from britishinsurance.com as the amount you are insured for should you need to make a claim. A supplementary description may be seen at Section 4.19 of the insurance wording.
Partnership - This is considered under loan payment protection insurance from britishinsurance.com as an association of two or more persons. A supplementary description may be seen at Section 4.20 of the insurance wording.
Payment(s) - This is considered under loan payment protection insurance from britishinsurance.com as the amount you must pay each month to your loan or finance company. A supplementary description may be seen at Section 4.21 of the insurance wording.
Payment in lieu of notice - This is considered under loan payment protection insurance from britishinsurance.com as compensation or other payment made by a former employer. A supplementary description may be seen at Section 4.22 of the insurance wording.
Permanently retire - This is considered under loan payment protection insurance from britishinsurance.com as stopping work with no intention of return. A supplementary description may be seen at Section 4.23 of the insurance wording.
Pre-existing medical condition - This is considered under loan payment protection insurance from britishinsurance.com as any medical condtion that existed prior to the start date of your policy. A supplementary description may be seen at Section 4.24 of the insurance wording.
Premium – This is considered under loan payment protection insurance from britishinsurance.com as the amount you must pay each month to the insurers to keep your policy in force. A supplementary description may be seen at Section 4.25 of the insurance wording.
Self-employed - This is considered under loan payment protection insurance from britishinsurance.com as managing or carrying on a business either on your own or in partnership. A supplementary description may be seen at Section 4.27 of the insurance wording.
Start date - This is considered under loan payment protection insurance from britishinsurance.com as the date your policy starts. A supplementary description may be seen at Section 4.28 of the insurance wording.
Treatment - This is considered under loan payment protection insurance from britishinsurance.com as any medical attention that you receive. A supplementary description may be seen at Section 4.29 of the insurance wording.
Unemployment - This is considered under loan payment protection insurance from britishinsurance.com as being without a job in circumstances that are beyond your control. A supplementary description may be seen at Section 4.31 of the insurance wording.
We, Us, Our - This is considered under loan payment protection insurance from britishinsurance.com as the insurer, Bankers Insurance Company Limited who are authorised and regulated by the Financial Services Authority. A supplementary description may be seen at Section 4.32 of the insurance wording.
Work - This is considered under loan payment protection insurance from britishinsurance.com as doing a job for more than 16 hours a week. A supplementary description may be seen at Section 4.33 of the insurance wording.
You, Your - This is considered under loan payment protection insurance from britishinsurance.com as you the policyholder. A supplementary description may be seen at Section 4.34 of the insurance wording.
