FAQ About Insurance
What is Income Protection Insurance (IPI) ?[+] Expand
This is a type of insurance which will pay a proportion of earned income in the event that the policyholder is unable to work due to accident, sickness or unemployment (if chosen), resulting in a loss of earnings.
What is Private Medical Insurance (PMI) ?[+] Expand
This is an insurance which is designed to cover the cost of private treatment of short-term illness, or injury, which arise after you join.
What is Mortgage Payment Protection Insurance (MPPI) ?[+] Expand
This is sometimes known as ASU cover. It’s an insurance policy that you, as a mortgage customer can take out to protect yourself against being unable to work due to accident, sickness or unemployment. The policy will pay a monthly benefit amount that you choose to help you pay your monthly mortgage repayment and associated insurance premiums. The benefit is paid for upto a maximum of 12 months or until you return to work, whichever happens first.
What is Term Assurance ?[+] Expand
This is life assurance, which you take out for an agreed period, or term. The insurance pays out a specified amount on the death of the policyholder providing it occurs within the policy term.
What is Conditional Insurance ?[+] Expand
This refers to insurance products, which some lenders will impose as a condition of their mortgage offer. This could mean that the lender insists that accident, sickness and unemployment cover is taken out or that combined buildings and contents insurance is taken.