About Lifestyle Protection Options

Its aims

The plan aims to do the following:

  To help protect you and your family against the financial consequences of death, terminal illness, critical illness, and loss of income through incapacity.

  To allow you to select different types of cover, for different amounts and different terms, to suit your personal needs.

  To provide you with the flexibility to alter the cover level and range of benefits as your protection needs change.

Your commitment

You must do the following:

  Pay the regular monthly premium by direct debit.

  Give us all the information we ask for when applying for your plan and claiming benefits.

  Tell us about any changes to the information you give us, between completing your application form and your plan starting.

  Notify us about any subsequent changes in the information given in your application, such as changes to your occupation or address.

  For income protection cover, tell us of any claim within eight weeks of incapacity.

Risk factors

The plan carries the following risks

  If you stop paying your monthly premiums your cover will end.

  Certain causes of claim are excluded. See the ‘What is not covered’ sections for each benefit.

  The plan has no cash-in value at any time.

   We may not pay a claim if the information we receive when you apply for your plan is incomplete or incorrect.

  You should review your cover regularly to ensure it continues to meet your needs.

  Payment of benefits under the plan may affect your entitlement for means-tested State benefits. Your entitlement to State Incapacity Benefit will not be affected. However, State benefit rules may change.

  For Income Protection cover, you will receive a reduced benefit if your cover is too high compared to your earnings. We will not refund any of your premiums if this happens.

  For Critical Illness cover, we may review premium payments if the predicted cost of providing benefits is higher than expected. If this happens your premiums may increase.