Mortgage Payment Protection Insurance Eligibility

This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at: www.moneyadviceservice.org.uk/yourmoney. A typical monthly cost for Paymentshield Mortgage Payment Protection Insurance is £5.53 for every £100 of monthly benefit.*

To be eligible for our MPPI policy, you must meet the following requirements at the start of your policy:

• Be 18 or over but under 64
• Be in paid work for at least 16 hours a week, every week
• Live in the United Kingdom, Channel Islands or Isle of Man
• Be paying a mortgage agreement that has been in force for 30 days or less, or about to start paying a mortgage agreement
• Be named on the mortgage agreement and/or your immediate family reside at the property for which your mortgage agreement is held
• Be up to date with your mortgage repayments, if you have an existing mortgage agreement
• Be unaware of any circumstances which may result in making a claim under this policy

If your chosen policy provides cover for Unemployment, you must meet the below requirements at the start of your policy:

• Have not received formal or informal notification that your own job is at risk
• Your employer must not have formally announced its intention to make job cuts, made any mandatory reductions to basic salaries or contractual working hours to the workforce at the location of your job
• Your company or the company that you are employed by is not either in administration or has not announced formally or informally that it is going into administration, receivership or liquidation.

Things to be aware of...

As with all insurance policies there are certain circumstances, known as exclusions, when you will not be able to make a claim. Full details of the policy exclusions can be found within our Policy Document.

Claims relating to pre-existing medical conditions are excluded. You cannot claim for any pre-existing medical condition which you knew about, or should reasonably have known about at the policy start date, or which you had seen or arranged to see a doctor about during the 12 months immediately before the policy start date.
This will not apply if you have been symptom free, have not received treatment or consulted a doctor about the condition in the 12 months before the start of your accident or sickness claim. For the definition of a pre-existing medical condition please see our Glossary.

If you have been paid or are entitled to be paid in lieu of notice, any claim for unemployment, including the qualification period, will not start until the payment in lieu period ends.

If during the term of your policy you wish to increase your monthly benefit (other than an interest rate change which you tell us about within 30 days of being notified by your lender), or wish to change to a shorter qualification period, then these changes will not come into effect until 90 days after you notify us.

You cannot alter your cover or monthly benefit during a period of claim.

* The monthly cost is inclusive of Insurance Premium Tax (IPT) at the current rate of 6%. The cost is based on our full accident, sickness and unemployment option with 30 day back to day one cover, 12 months benefit and no deferred premium payment period, protecting a monthly repayment of £620.

MortgageProtector is underwritten by Aviva Insurance Limited