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Mortgage payment protection insurance

Britishinsurance.com – Mortgage Payment Protection Insurance – FAQ’s

It is your responsibility to ensure that this 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.

1. Who underwrites this mortgage policy?
This mortgage policy is underwritten by Bankers Insurance Company Limited who are authorised and regulated by the Financial Services Authority. Full information is provided in Section 19.3 of the Certificate of Insurance.
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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.
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3. Can I have joint cover?
No, this policy does not 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.
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4. What does Mortgage Start Date mean?
This means the date that the mortgage you are protecting under this mortgage policy started.
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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.
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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.
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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.
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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 months; provided that you remain unable to work and the policy End Date has not been reached. Full information is provided in Sections 5.4 and 7.5 of the Certificate of Insurance.
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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. Full information is provided in Section 1.4 of the Certificate of Insurance.
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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 3 of the Certificate of Insurance.
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11. How long do I have to wait before this mortgage policy covers me for unemployment?
This mortgage policy has an initial exclusion period for unemployment at the start of the policy during which you cannot make a claim for unemployment. Full information is provided in Section 4.11 of the Certificate of Insurance.
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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. Full information is provided in Section 4.11.3 of the Certificate of Insurance.
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13. When does cover end?
This mortgage policy has an End Date when all cover and all benefits cease, Full information is provided in Section 10 of the Certificate of Insurance.
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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. Full information is provided in Section 7 of the Certificate of Insurance.
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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 in Section 8 of the Certificate of Insurance.
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16. If I am self-employed are there any restrictions?
Yes, if you are self-employed additional restrictions apply. Full information is provided in Section 8.12 and Section 8.14 of the Certificate of Insurance.
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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 in Section 5.4.6, Section 7.5.6 and Section 8.13 of the Certificate of Insurance.

In order to determine if you are a contract worker, please refer to Section 4.33 of the Certificate of Insurance.
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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. Full information as to what constitutes a payment in lieu of notice is provided in Section 4.22 of the Certificate of Insurance.
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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 in Section 5 of the Certificate of Insurance.
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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 6 of the Certificate of Insurance.
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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 in Section 6.1 of the Certificate of Insurance.
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22. Will this mortgage policy cover me if I have a chronic condition?
No, chronic conditions are excluded under this mortgage policy. A definition of what constitutes a chronic condition is provided is Section 4.4 of the Certificate of Insurance.
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23. Does this mortgage policy contain any other exclusion?
Yes, this policy contains other general exclusions. Full information is provided in Section 9 of the Certificate of Insurance.
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24. How do I make a claim?
Full information about how to make a claim is provided in Section 13 of the Certificate of Insurance.
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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 Section 11 of the Certificate of Insurance.
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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 Section 14 of the Certificate of Insurance.
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27. What is the cost of cover?
get an instant quote for mortgage payment protection insurance.
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28. Can I cancel this mortgage policy?
Yes, you can cancel this mortgage policy at anytime. Full information is provided in Section 12.2 (Link) of the Certificate of Insurance.
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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 Section 16 of the Certificate of Insurance.
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30. How do I pay for this mortgage policy?
Premiums are payable each month by Direct Debit.
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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. Full information is provided in Section 17 of the Certificate of Insurance.
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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 19.2 of the Certificate of Insurance.
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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. Full information is provided in Section 20 of the Certificate of Insurance.
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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:

• By telephone: 08450 175 178
• Fill in our enquiry form
• Email us at: mail@britishinsurance.com

We are here to help, so please don’t hesitate to contact us.
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Final words:
It is your responsibility to ensure that this 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.

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