Income protection policy wording
6. General Conditions
- All cover under this insurance will end and all Monthly Benefit
will stop automatically if You die or, when You reach the age
of 65 or Permanently Retire before then or, when You miss paying
any premium(s) which may be due to Us under this insurance.
- If Joint Applicants are covered under this insurance and one
of You reaches 65 or Permanently Retires before then, that person
will no longer be covered. If You write and tell Us about this
however, the other person can then receive all the Monthly Benefit
if a claim needs to be made.
- You may not transfer or assign Your rights or interest in
this insurance to any other person. This insurance does not
have any value at the End Date nor does it acquire any surrender
value during the period of insurance.
- We reserve the right to amend the terms of a monthly premium
renewable insurance contract by giving You notice of Our intention
to do so as follows; to withdraw, terminate or cancel the cover,
90 days notice, to vary the cover provided, 30 days notice,
to alter the rates of premium (other than any statutory tax
changes) charged during the period of cover, 30 days notice.
The minimum period between consecutive changes will be 180 days.
If You do not have a monthly premium renewable insurance contract,
then You will not be affected by these possible changes.
- If You are not satisfied that this insurance is suitable for
Your requirements, You may write to Us within 14 days of the
Start Date and We will cancel Your cover from the Start Date
without charge.
7. Definitions
In this Certificate, Your application and Insurance Schedule
or anything attached to or subsequently endorsed hereon, the following
words and expressions have the following meaning(s) wherever they
may appear
Administrator Adminicle Ltd, Callidus House, Cirencester
Business Park, Love Lane, Cirencester GL7 1XD
Disability, Disabled An illness, disease, condition or
injury which stops You from doing Your job or any similar job.
It must also stop You from doing any paid Work which Your experience,
education or training reasonably qualifies You to do. If You are
Self Employed, a Disability must stop You from helping, managing
or carrying out any part of the day-to-day running of a business.
Doctor A registered medical practitioner, practicing in
the United Kingdom. This does not include You or Your relatives
except when disclosing a pre-existing condition as detailed in
Sections 1 and 4 of this Certificate.
End Date The date that cover ceases under this insurance
as detailed in Section 6 of this Certificate.
Exclusion Period The period shown in Section 4 above and
on Your schedule of insurance. This period immediately follows
the Start Date of Your insurance
Joint Applicants Two people who are responsible for the
regular monthly payments stated in the application Schedule.
Monthly Benefit The amount equal to the payments that
You must make every month under any Mortgage, Rental and/or Loan
agreement(s) plus all other regular payments as stated on Your
application Schedule up to a total of £1,000 or 50% of Your
gross monthly income whichever is the less (unless Your schedule
of Insurance shows a different amount). If You are Joint Applicants,
the Monthly Benefit will be the percentage shown in Your application
and Insurance Schedule.
Permanently Retire When You have stopped Working and You
have no intention of returning to work in the future.
Self Employed Means that You are helping with, managing
or carrying on a business in the United Kingdom and are liable
to pay tax under Schedule D Case I, II, IV and V of the Income
and Corporation Taxes Act 1988. We will also consider You to be
self employed if You are a partner in a partnership or, a person
who exercises direct or indirect control over a company (but not
necessarily the majority shareholder or holder of the majority
voting rights) or, if You are Working for a company which is in
any way connected with a relative (by blood or marriage) who has
control over that company.
Start Date The requested date stated on Your application
as shown on Your Schedule of Insurance.
Unemployment, Unemployed Being out of Work and receiving
the correct class of National Insurance credits by reason of Unemployment,
unless You have been entitled to make reduced National Insurance
contributions in the past or You are a woman who has reached the
state retirement age of 60. You must be actively looking for Work.
We will not consider You as Unemployed for any day that You receive
pay in lieu of notice.
We, Us, Our, Underwriters The National Insurance &
Guarantee Corporation Ltd
You, Your, Insured The person or persons stated in the
application, each satisfying the eligibility requirements set
out in Section 1 of this Certificate.
Work, Working Working in paid employment for at least
20 hours or more a week in the United Kingdom. This includes You
if You are Self Employed. You must also be paying the correct
class of National Insurance Contributions.
8. Important Notices
Data Protection. The data supplied by You will only be used for
the purposes of processing Your policy of insurance, including
underwriting, administration and handling any claim which may
arise. The data supplied will not be passed to any other parties
other than those which are mentioned below. It is important that
the data You have supplied is kept up to date. You should therefore
notify Us promptly of any changes so that We may update Our records.
You are reminded that it is essential You provide all material
information likely to influence the acceptance and assessment
of this insurance. If You have any doubts as to whether a fact
is material, it should be disclosed. Failure to disclose any material
facts may invalidate Your policy or may result in Your policy
not operating fully. We may also respond to enquiries by the Police
concerning Your policy in the normal course of their investigations.
Where it is necessary to administer Your policy effectively or
to protect Your interests, We may disclose the personal data You
have supplied to other third parties such as solicitors, loss
adjusters, other insurers etc. We may also if necessary contact
other parties requesting sensitive data, these may include doctors,
hospitals, consultants, employers etc., but We will ensure that
We obtain Your consent to approach such other parties prior to
doing so. You should show this notice to any person directly or
indirectly insured under this Policy about whom personal information
has been supplied.
If You are a resident of the European Union, then the parties
completing this Contract are free to choose the law applicable
to this Contract. However, unless it is specifically agreed to
the contrary, the Contract shall be subject to English Law.
Any enquiry or complaint You may have about this contract should
be addressed in the first instance to the Administrator. Please
be ready to quote Your Certificate Number so that Your enquiry
or complaint may be dealt with promptly. If You are not satisfied
with the way that Your enquiry or complaint has been dealt with,
You may contact the Underwriters to review Your case without prejudice
to Your rights in Law, the address is:
The National Insurance & Guarantee Corporation Ltd, Special
Risks Division, Crown House, 145 City Road, London EC1V 1LP
If the matter remains unresolved and once the above have been
contacted, then You can approach the Financial Ombudsman Service
at South Quay Plaza, 183 Marsh Street, London E14 9SR.
The Underwriters, Adminicle and Goodfellows are members of the
General Insurance Standards Council.
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