Are There Any Situations That Would Result In My Claim Being Refused?

Yes there are the usual exclusions. These are summarised below but you should carefully read the paperwork that comes with your insurance documents.

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Will a claim under a Mortgage Payment Protection policy affect any State benefits to which you may be entitled?
No. Whilst you are using Mortgage Payment Protection Insurance to replace your income and meet your monthly mortgage repayments, insurance payouts do not qualify as income in the eyes of the Benefits Agency or the Inland Revenue.
Is there any investment value in your policy?
No. Once the policy has come to the end of its term the policy simply ends. It’s a bit like house insurance!
You have an Interest Only Mortgage. What sort of Life Insurance do you need?
You need normal, level cover, Life Insurance.
You want to ensure that your mortgage is paid off if you were to die or become seriously ill and could not work again. What sort of life insurance do you need?
You need either Life Insurance if you have an interest only mortgage, or Mortgage Life Insurance if you have a repayment mortgage. Then you need to add Critical Illness Insurance. You can do this all in one policy.
How Much Should You Insure For?
For mortgage protection purposes the initial sum insured must always equal the capital sum outstanding on your mortgage. You should also insure yourself for the same number of years that are remaining on your mortgage.

  • You were aware that you were going to become unemployed when you took out the insurance
  • You left your job voluntarily
  • Your work is casual, temporary or seasonal
  • You work for a Temporary Employment Agency
  • Unemployment is a regular feature of your job
  • You left your job because you were dismissed for misconduct
  • When you took out the insurance you were already suffering from the illness or condition which caused your absence from work
  • Off work due to alcohol or non-prescribed drug abuse
  • Off work due to injuries which are self inflicted
  • Off work due to failure to follow medical advice
  • Off work due to war or rioting

Frequently Asked Questions related to the above topic.
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