| If
you can answer YES to any of the following statements
you are NOT eligible for mortgage payment protection
insurance or income protection insurance:-
you are not aged between 18 and
65;
you do not live and work in the United Kingdom;
you do not work for more than 16 hours each week
and have not done so continuously for the past
6 months;
you cannot register as unemployed within the
United Kingdom;
you are employed on a fixed-term contract and
you have less than 2 years service with your current
employer;
you are employed on a fixed-term contact and
your contract has 6 months or less to run;
you are aware of any proposed redundancies or
reorganisation in the business you work for;
you are aware of any financial or contractual
threat to the business you work for;
your work is casual, temporary or seasonal in
nature or unemployment is a regular feature of
your particular job;
you are currently disabled or you have a pre-existing
medical condition;
you are currently unable to work due to an incapacity
(including any maternity leave);
you are an existing borrower and your mortgage
or loan is in arrears or is shortly due to end;
you are using your mortgage or loan for commercial
purposes (including buy to let mortgages);
you are not living in the property named on your
proposal;
you are acting as a guarantor on the mortgage
or loan (even if you are named on the agreement);
you already have unemployment and/or incapacity
insurance;
you do not have or intend to have a mortgage
or loan;
you wish to insure more than 50% of your gross
monthly income
you become unemployed or incapacitated and still
receive some income.
IF YOU ARE ELIGIBLE - GET THE
BEST COVER AT THE CHEAPEST RATES
Are you eligible?
Eligibility criteria for Payment
Protection Insurance
You are normally eligible for Payment Protection
Insurance cover if you satisfy the following criteria:
- you are at least 18 and under 65 and you are
permanently resident and working within the
UK, Channel Islands or Isle of Man and eligible
to receive Jobseeker's Allowance;
- you are now and have been for the past six
months in continuous permanent employment, contract
employment or self-employment for more than
16 hours per week;
- you are taking out the Payment Protection
Insurance policy to protect the mortgage on
the private residential property you live in;
and
- you agree to keep to the terms and conditions
of the Payment Protection Insurance.
However, there are some factors which mean you
will not be eligible for cover:
- you know, or you are aware, of any circumstances
that may result in you becoming unemployed;
- your work is of a casual, temporary or seasonal
nature;
- you work for a temporary employment agency;
- you are in any type of occupation where unemployment
is a regular feature of that particular job;
or
- you are currently unable to work due to a
disability (this clause does not apply if you
are on maternity leave).
|
