| Additional
cover |
an amount up to 25% of the mortgage payment
you have chosen under the policy. |
| Administrator
|
British Insurance Ltd |
| Benefit period
|
a period of up to 12 months for each separate
period of claim. |
| Benefit split
|
either single cover or split cover as shown
on your certificate of cover. |
Business
|
a company, profession, trade or industry
owned and run by you (either alone, or with others) which
is registered in the United Kingdom, Channel Islands or
Isle of Man. |
Certificate
of cover
|
the document you receive confirming the
specific type and level of cover we give you under the policy. |
| Consultant
|
a suitably qualified registered medical
specialist (other than you or a relative) at a major hospital
in the United Kingdom, Channel Islands or Isle of Man. |
Controlling
director |
you own more than 20% of the issued shares
of the business you work in. |
Direct debit |
the instruction which gives us the authority
to collect the premium from your bank or building society. |
| Disability
|
an accident or sickness which a doctor
(or consultant) confirms prevents you from doing your normal
work or any other work you are reasonably able to do given
your experience, education or training. |
| Disabled
|
you are suffering from a disability. |
| Doctor
|
a medical practitioner (other than you
or a relative) who is registered with the General Medical
Council and working in the United Kingdom, Channel Islands
or Isle of Man. |
| Eligible
for cover |
you meet the eligibility requirements
of the policy (see section
8).
|
Employed
|
your employer is taking PAYE tax and national
insurance contributions for you and:
your work is permanent; or
you work on a fixed term contract and you have at least
two years continuous service.
If you work on a fixed term contract and you have less than
two years continuous service, you are not insured against
your employer not renewing your contract and your entitlement
to receive monthly benefit will end on the date that your
contract should originally end. |
| End date
|
the date cover under the policy ends (see
section 15). |
Exclusion period
|
a period of three calendar months immediately
after the policy start date. |
| Existing borrower
|
your mortgage has been in force for more
than 30 days on the policy start date. |
| Free cover
|
the period immediately after the policy
start date during which you will not have to pay any premium.
The free cover you will receive is shown on your certificate
of cover. |
| Important facts
|
the circumstances that you must reveal
on or before the policy start date (see
section 22).
Lender the bank, building society or finance company that
grants you a mortgage. |
| Monthly benefit
|
the total amount of monthly cover you have
under the policy.
This is also the most we will pay you each month if you
make a claim (this will depend on the benefit split). The
monthly benefit you have chosen is shown on your certificate
of cover. |
| Mortgage
|
the first loan you took out with a lender
and secured against the property you are living in as your
private home. |
| Mortgage payment
|
the normal monthly amount you must pay
your lender under the terms of your mortgage agreement (see
section 2). |
| New borrower
|
your mortgage has been in force for 30
days or less on the policy start date. |
| Normal income
|
if you are employed - the average monthly
income you have received before deductions (or if you are
paid every week, the monthly equivalent) during the past
12 months; or
if you are self-employed - the monthly average of your yearly
income as declared on your self- assessment return for the
previous tax year. This must be confirmed by the Inland
Revenue. |
| Payment in
lieu of notice |
any payment, or any compensation for losing
your job (including any payment made under a compromise
agreement), that relates to any period of notice that you
are entitled to, or should have been served by your employer,
under the terms of your contract of employment or letter
of appointment. |
Period of claim
|
any separate period of unemployment or
disability for which you are receiving monthly benefit. |
Policy |
the insurance cover we provide under these
conditions. |
| Policy start
date |
the date cover begins as shown on your
certificate of cover. |
| Pre-existing
medical condition |
any condition or disease for which you
received treatment, medication or advice (including examinations
or consultations to monitor the condition) in the 12 months
before the policy start date. |
Premium
|
the monthly amount you pay to us by direct
debit for insurance under the policy. The monthly premium
you pay is shown on your certificate of cover. |
| Proposal
|
your application for insurance under the
policy including the direct debit. |
| Proprietor
|
you own (either alone or with others, except
as a shareholder) the business that you work in. |
Relative
|
your husband, wife, partner, or any other
immediate family member related to you by blood, marriage,
or law. |
Self-employed
|
you are classed for taxation purposes as
schedule D and you have to make Class 2 national insurance
contributions: and/or
you are a proprietor;
you are a controlling director; or
you are a relative of either the proprietor or a controlling
director of the business that you work in. |
| Single cover
|
you alone, are insured for 100% of the
monthly benefit. |
Split cover
|
both people named on the certificate of
cover are insured for a percentage of the monthly benefit. |
| Type of cover
|
unemployment and disability cover;
unemployment only cover; or
disability only cover.
The type of cover you have chosen is shown on your certificate
of cover. |
| Unemployed
|
you no longer have a job because of circumstances
beyond your control. |
| Unemployment
|
you have become unemployed. |
| Waiting period
|
means the first 30 days of any claim for
unemployment or disability as shown on your certificate. |
| We, us
or our |
British Insurance |
Work
|
you are actively employed or self-employed
for at least 16 hours a week and you are making the appropriate
national insurance contributions. |
You or
your
|
the person or people named on your certificate
of cover. |
