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Friends Provident: Unemployment Cover

 

Product profile

 

Description 

Pays you a regular tax-free income to cover the cost of your mortgage payments if you become involuntarily unemployed during the cover term
 

For

  • Aged 18 to 59 with at least five years before retirement
  • Employees and self employed
    

Maximum amount payable

  • Selected amount for up to 12 months
 

Basis of cover

  • Day one basis
  • To cover residential mortgage payments
  • Includes related home and life insurance
  • Involuntarily unemployment/redundancy
  • Failure of own business

Benefits

  • You choose the monthly benefit
  • Pays lowest of these three ;
    • Monthly benefit
    • Monthly repayment to lender if over £1500 a month
    • Monthly repayment plus other insured payments;maximum £1500
  • Other insured payments include home and life insurances, but not pension plan
 

Options

  • Main/sole wage earner only
  • Joint cover for full mortgage
  • Joint cover for each's share of mortgage
 
Last updated: 4 February 2008