Mortgage Cover +

‘Peace of mind that your mortgage repayments can be met even at times of difficulty'

Product Overview

• Individual policy available to borrowers of participating Building Societies and affinity partners to allow them continue to meet their mortgage repayments if their circumstances change.

• Pays chosen benefit amount in the event that the policyholder is out of work due to an accident sickness or involuntary unemployment.

• The member pays a monthly premium based on cover options they have chosen

Key Features

• Flexible solution that allows Members tailor the policy to their needs and their budget:
  • Tailor your cover - Choose accident and sickness cover or Involuntary unemployment cover or both
  • Tailor your benefit amount – from £100 to £2,500 per month
  • Tailor how long you need be out of work before you can claim – choose from 30, 60 or 90 days.
  • Tailor the maximum number of claim payments Choose 12 or 24 months

• Can cover 150% of mortgage repayment to protect ability to meet related expenses such as life cover or home insurance. Benefit must not exceed 50% of normal earnings

• Joint cover available

• Unemployment cover includes situations where you need to give up work to care for a family member.

• All cover ceases at age 65

• 12 month pre-existing condition exclusion, however no additional restrictions on Back or stress related conditions.

Who should consider this product?

Members of participating Building Societies and affinity partners who have a mortgage loan and who:

• Want to protect themselves against being unable to meet their repayments in the event of being out of work due to an accident, illness or involuntary unemployment.

• Have been working continuously for at least 16 hours per week (including being self employed)

• Are aged over 18 and less than 65

• Are resident in the UK