i:protect : Mortgage Payment Protection Insurance

Product profile

Description

• Designed to pay your mortgage in the event that you are off work through accident, sickness or involuntary unemployment. Just because you are unable to work does not have to mean that you place your home at risk or are driven into debt 

• You can also cover up to 25% more than your mortgage repayments to help you pay your loans, credit card repayments, important insurance premiums, utility bills, food bills and more

For

• Aged 18 to 64

• Employees, self-employed and some contract workers

   

Period of cover

• Minimum 5 years

• Maximum 40 years

Maximum amount payable

• £1500 a month

• 75% of gross monthly income

Basis of cover

• Monthly policy

• Renews automatically

• Cover ends at age 65 or earlier retirement

• Cover up to 12 months only
   

Benefits

• You choose the amount

• Legal health helpline

• Jobcare Back to Work Service to help you return to work

Options

• Accident, Sickness and Unemployment

• Accident and Sickness only

• Excess days from start of claim before benefit payable - 0 /30/60/90/180

• Waiting period days off work before claim payments - 30/60/90/120/210

Not covered

• Pre-existing medical conditions

• Chronic

• Any mental or nervous disorders including stress and anxiety unless diagnosed by a Community Mental Health team or a consultant psychiatrist

• Normal pregnancy or childbirth unless there are medical complications

 
Last updated: 7 December 2009