Payment Protection

The following will apply if you select Standard or Premier Cover:

• If you are off work through accident/sickness for at least 14 consecutive days we will pay a monthly payment, up to a maximum of £1,500. We will continue to pay a monthly payment for each further full month of absence during which you are still unable to work through accident or sickness
• Subject to the terms and conditions of the policy, we will continue to make these payments until your loan is repaid or until you return to work (whichever occurs first)
• The maximum monthly benefit amount will be the lower of your monthly repayment or £1,500 per month.

The following will only apply to you if you select Premier cover:

• If you are involuntarily unemployed (business failure if self employed) for at least 30 consecutive days, we will pay a monthly payment, up to a maximum of £1,500.
• We will continue to pay a monthly payment for each further full month on involuntary unemployment.
• We will continue to make these payments for up to a maximum of 12 months in respect of any one claim or 24 monthly payments in total under the policy.
• The maximum monthly benefit amount will be the lower of your monthly repayment or £1,500 per month.

The following will only apply to you if you select Premier cover:

• If you are self-employed you will be entitled to claim for involuntary unemployment benefit if your business has ceased trading and you have declared this to HM Revenue & Customs.

How long does my Payment Protection Insurance run for?

The policy will continue for the term of your finance agreement and will terminate when that agreement ends or when you cancel the policy. When you permanently retire from paid work or reach the age of 65, the benefits in Premier will be automatically transferred in to Hospitalisation and Funeral Expenses cover, the benefits in Standard will automatically be transferred to Hospitalisation.

What happens if I am over 65, have permanently retired or will become so during the length of the policy?

When you permanently retire from paid work, the cover under Accident & Sickness along with Involuntary unemployment cover will no longer be available to you as there is no longer any income being generated by you for paid work to protect. Your benefits will change for the remaining balance of the finance agreement until the policy end date.

Hospitalisation Benefit– Should you be admitted to hospital in the UK for any reason other than cosmetic surgical procedures for a period greater than 5 consecutive 24 hour periods, a daily payment of £50 for each subsequent 24 hour period that you are continuously hospitalised will be paid until you cease to be hospitalised or we have made 20 daily payments in any one event of hospitalisation or in total under the policy.

Funeral Expenses Benefit – If you die after the starting date and before the end date of the Policy, a lump sum of £1,000 will be paid to the Executor of your Estate to help with funeral expenses. There are no exclusions applicable to this.

PPI - Summary Of Cover

Who are the insurers?

The insurers of this policy are London General Insurance Company Limited and London General Life Company Limited. London General Insurance Company Limited, registered number 1865673, and London General Life Company Limited, registered number 2443666, whose registered office are at Integra House, Floor 2, Vicarage Road, Egham, Surrey TW20 9JZ

London General Insurance Company Limited and London General Life Company Limited are both authorised and regulated by the Financial Services Authority, FRN 202689 and FRN 202801 respectively.