FAQ’s

Occupation
Enter your occupation and click ‘search’. You then chose from the options provided. If your occupation is not present you can leave the box blank, the quotation system will then use the default “Unknown” classification which assumes that you are in a non-hazardous occupation (class 1).

Policy type
Term: Level term assurance; the amount of life cover will remain the same throughout the life of the policy. Generally suitable for people with Interest Only mortgages (where the amount of mortgage loan will not decrease over the term of the mortgage) and for family protection.
Mortgage Protection Policy: Also known as Decreasing Term assurance. The amount of life cover will reduce inline with the outstanding debt on a repayment mortgage. Generally suitable for those people who have a repayment mortgage, where the mortgage loan is repaid gradually over the course of the mortgage term. The premium will remain the same throughout the term.

Benefit Type
Death benefit only – this policy will only payout upon death (usually including Terminal Illness cover*)
Critical Illness only – this policy will only payout upon diagnosis of a specified Critical Illness
Death or Earlier Critical Illness – this policy would payout on the earlier of death or diagnosis of a specified Critical Illness. Once a successful claim is made the policy will cease.

* Terminal Illness cover is standard on life policies and simply means that if the life assured is diagnosed with a terminal illness (one which is expected to kill you within 12 months) then the policy will pay out immediately.

CIC options
We recommend that you leave these boxes blank and the quotations will be produced using the insurance companies standard terms.

CIC – Critical Illness Cover
TPD – Total Permanent Disability
Comprehensive - includes CIC and TPD

Definitions of TPD
Own occupation - you are unable to continue working at your own occupation.
Any occupation - you are unable to undertake any form of work.
Any suited occupation - you are unable to continue working at your own occupation, or undertake any form of work that you have trained to do, been educated to do or done in the past.

Premium Frequency
Chose whether you would like to pay for your policy monthly or annually

Term
Chose how long you wish to policy top cover you for, in whole years. i.e. if you have a 25 year mortgage you would enter 25 years.

Benefit driven (the normal option)
Chose this option if you require a specific amount of life cover, for example to cover a mortgage. The quotation will then let you know how much the policy will cost. E.g. your mortgage is £150,000, - how much will that much cover cost.

Premium driven
Chose this option if you have an amount that you wish to pay each month and want to know how much life cover you will receive. E.g. you wish to pay £20 per month – how much cover will this provide.

Please enter amounts as figures only with no commas

Increasing benefit
Policy will be reviewed annually and the amount of cover AND the premium will be increased in line with inflation. Indexation of benefit should be considered to ensure future benefit levels are not eroded by inflation, and is generally most useful for policies that are designed to provide for dependants upon death. If you require cover for specified amount e.g. mortgage of £100,000, that will not alter over time then you would not use this option and it is not available on Mortgage Protection policies.

Mortgage Interest Rate
The quotation system asks for this amount when you quote for Mortgage Protection. Please leave this as the default 8%. It reflects the average loan rate to maintain the mortgage guarantee.

Waiver of Premium
This is an additional insurance for the premium itself and usually means that the policy will be paid for by the insurance company if you are off sick and unable to work for a period of more than 6 months.

Guaranteed & Reviewable
This only applies to the critical illness element of a policy and Guaranteed policies have premiums which remain the same throughout the policy term. Reviewable policies have premiums which can alter at the review dates within the policy term (usually every 5 years). If you want to be certain that your premiums do not increase, chose Guaranteed.