Additional Information about Mortgage Protection
Options
Will I be
able to increase my cover in the future?
Will I be
able to reduce or stop paying my premiums?
Does the plan have a cash-in
value?
Will my premium payments change
in the future?
Medical and other details we
may need
What will my payments
be?
What are the
charges?
What about
tax?
How do I
claim?
What will stop the plan paying
out?
What if I change my
mind?
What if I am unhappy with the
service I receive?
Are we covered by the
Financial Services Compensation Scheme (FSCS)?
Where can I find out
more?
Important
Information
Will I be able to increase my cover in the
future?
You should regularly
review your cover to ensure it continues to meet your needs.
You can apply to
increase the amount of your cover at any time, as long as your plan
has at least five years left to run. We may need you to provide
additional medical or other information. Your premium payments to
us will increase.
In addition there is
an option for you to increase the amount of your cover on certain
special events such as marriage or childbirth, without having to
provide us with additional medical information. There are also
special events on which you can add or increase life cover when
life cover you hold elsewhere expires. These increases and
additions are subject to maximum limits and conditions. See
section G of the Terms and
Conditions for full details.
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Will I be able to reduce or stop paying my
premiums?
You can reduce
your premiums and the level of your benefits at any time.
If you stop paying
premiums, your cover will end and you will not get any money
back.
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Does the plan have a cash-in value?
Your plan has no
cash-in value at any time.
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Will my premium payments change in the
future?
We may need to review
your premiums in the event of you living abroad.
If you have critical
illness cover we may need to change premium payments in the future
because of factors such as our claims costs. We will give you 30
days notice before making any changes.
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Medical and other details we may need
Your application
will include questions about your medical history, earnings,
occupation and other personal circumstances. We may request
additional medical evidence to support your application at our
expense.
Your benefits may be
affected if you do not disclose all the relevant information we ask
for when you take out your plan.
After your plan starts
you must notify us of changes to your personal details or if you
start living abroad.
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What will my payments be?
Your documentation
will show the details of the cover you have chosen.
Your premium payments
will depend on several factors including your age, sex, smoking
habits, medical history, and upon the level and features of
the cover you choose. We will tell you the actual cost you
will pay once we have assessed your application.
Premiums are collected
monthly by direct debit.
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What are the charges?
The premium payments
shown in your documentation include all the costs and expenses of
providing the types of cover you chose.
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What about tax?
Under current tax law
all of the benefits provided by your plan will be paid free of
Income and Capital Gains Tax.
If it is likely that
your estate will be liable for Inheritance Tax if you die, you
should consider writing your plan in trust for your dependants.
However, if you have joint life cover, benefit on death would
normally be payable to the surviving policyholder. You should
consult a solicitor for advice on legal matters.
Tax rules may
change.
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How do I claim?
To make a claim under
your Plan, simply write to our Claims Department at Foresters,
Foresters House, Cromwell Avenue, Bromley BR2 9BF, telephone on
08457 990011.
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What will stop the plan paying out?
This depends on the
types of cover chosen. Please refer to the ‘What is not covered’
section for each benefit.
We may apply specific
exclusions when we accept your application. If applicable we will
notify you of these exclusions before your Plan commences.
Please also remember
that we may not pay out if the information you supplied when you
started your Plan is inaccurate or incomplete.
Full details of the
exclusions and limitations are contained in the Terms and Conditions.
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What if I change my mind?
After we have approved
your application we will send you a notice of your right to cancel.
This gives you 30 days in which you can change your mind about
taking out this plan and have your premiums returned.
If you wish to cancel
your Plan, simply complete the cancellation notice and return to
Forester Life, Foresters House, Cromwell Avenue, Bromley, BR2
9BF.
After the initial
cancellation period, you can cancel your plan at any time by
writing to us.
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What if I am unhappy with the service I
receive?
We take the concerns
of our members very seriously. If you are unhappy with any aspect
of the service provided by us you should write to the Customer
Relations Officer, Forester Life, Foresters House, Cromwell Avenue,
Bromley BR2 9BF.
If we do not deal with
your complaint to your satisfaction, you can complain to: The
Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall,
London E14 9SR. Tel: 0845 080 1800. Making a complaint will not
prejudice your right to take legal proceedings.
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Are we covered by the Financial Services
Compensation Scheme (FSCS)?
Yes. This means that
you may be entitled to compensation from the FSCS in the event that
we cannot meet our obligations.
Compensation depends
on the type of business and the circumstances of the claim, but
insurance arranging is covered for 100% of the first £2,000 and 90%
of the remainder of the claim, without any upper limit.
Further information
about compensation scheme arrangements is available from the FSCS
website www.fscs.org.uk.
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Where can I find out more?
Your financial
adviser will be able to explain the benefits of the Mortgage
Protection Options Plan in more detail. Full details are set
out in the Terms and Conditions.
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Important Information
This information
is issued by Forester Life Ltd, Foresters House, Cromwell Avenue,
Bromley, BR2 9BF.
This information
complies with the Statement of Best Practice for Critical Illness
Cover which is issued by the Association of British Insurers (ABI).
For a copy of this statement you can write to the ABI at 51
Gresham Street, London EC2V 7HQ.
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