IS IT POSSIBLE TO ARRANGE COVER FOR TWO PEOPLE?

Yes. Simply complete a joint quote online & proceed to the buy online section. This will run through our online application process for each of you (one after the other). Note that you may make a cost saving by purchasing together (from one provider) as there is a saving on the administrative policy fee.

WHO OWNS MY POLICY?

- Single Application

You do. You may change the beneficial owner at any time after the policy document has been issued by contacting us. If a claim is made the payment goes directly into your estate or directly to the beneficial owner if you have changed ownership, which allows them to have access to funds as soon as the claim is approved.

- Joint Application

You own your partner's policy & vice versa. You may change the beneficial owner at any time after the policy document has been issued by contacting us. If a claim is made the payment goes directly to the beneficial owner, not into the estate, which allows them to have access to funds as soon as the claim is approved.

CAN I CHANGE THE OWNER OF MY POLICY AT A LATER DATE?

Yes. You may change the beneficial owner at any time after the policy document has been issued by contacting us.

HOW MUCH WILL LIFE INSURANCE COST ME?

Premiums are based on your age, gender, if you are a smoker or non smoker and the amount of insurance you wish to purchase. All companies provide quotes based on standard rates which are a preliminary guide only. Your quoted premiums can change due to your health, occupation and lifestyle.

WILL MY PREMIUMS INCREASE?

Every year your cover and premiums will increase with your age and indexation (based on the Consumer Price Index). The illustration supplied by your selected provider will show the estimated increases over a period of years.

WHAT IS INDEXATION?

Indexation is a way of keeping the amount of cover relevant to the cost of living. It is linked to the consumer price index (CPI). Most providers give you the opportunity to decline each year.

WHAT ARE MY PAYMENT OPTIONS?

You can pay either by credit card or direct debit.

WHEN WILL I MAKE MY FIRST PREMIUM PAYMENT?

Once your selected company has processed your application and you are accepted, the provider will action either the direct debit or credit card authority you signed at the time of your application. If your application is not successful payment will not be taken. (Note - you can choose the date of the month you wish to pay)

WHAT WOULD HAPPEN IF I STOPPED PAYING MY PREMIUMS?

You need to maintain your premium payments in order for your insurance cover to remain in place. If you stop paying premiums your cover will cease and no money will be refunded to you. If you need to change bank account or credit card details you can contact us and we can arrange for the appropriate forms to be sent to you.

IS THERE ANY CASH IN VALUE IN MY POLICY?

No. The cover is not a savings plan; it is for life insurance only, therefore there is no cash value to it.

DO I NEED TO PROVIDE EVIDENCE OF HEALTH?

Yes. The underwriting will be based on the answers to your questions. It is important that you disclose all relevant medical information that you are aware of on the application form. The underwriter may ask for further information or contact your Doctor for a medical history.

DO I NEED TO SEE MY DOCTOR?

Under most circumstances underwriters are able to make an assessment from your submitted electronic proposal based on the information you have provided. However, if there are some health issues the underwriter may write for further information from your Doctor, send a health screen nurse to complete an assessment or ask you to attend a full medical with your Doctor usually at no cost to yourself.

ARE MY HEALTH ASSESSMENTS FREE?

Yes. If an underwriter requires further information i.e. writes directly to your Doctor, sends a Health Screen Nurse for a consultation or asks you to have a full medical these visits are usually paid for by your selected provider.

DOES SMOKING AFFECT MY PREMIUM?

As a rule smoker's premium rates are higher than those of non smokers. It is possible to change your premium in the future should you stop smoking. The providers require you to have stopped smoking for a year in order to alter your premiums to non-smoking rates. You can contact us to send you the appropriate declaration form to make this change.

WHAT HAPPENS IF I CHANGE MY MIND?

It’s not a problem. If you decide you do not want the plan you can cancel it within 14 days of receiving your policy document - (known as the free-look period). You will need to contact us in writing to let us know that you no longer require the policy so that we can cancel it with your nominated provider. Any premiums paid during the free-look period are fully refundable from the nominated provider.

ARE THE PROVIDERS STRONG FINANCIALLY?

We believe that all providers illustrated are sound and secure companies. Please visit the links below for information on each company.

WHAT INFORMATION DO I RECEIVE?

You will receive a policy document on completion of your proposal. This will include a memorandum of transfer (to change ownership should you wish at any time in the future).

WHAT IS MY FUTURE SERVICE?

Each year prior to the anniversary of your policy you will be contacted with the option of a review of your policy. You will also receive a policy update from your provider. We will also keep you updated with our electronic newsletter. We may also write to you from time to time with special offers & updates.

Keep an eye on our website as we will continue to launch new products.

WHAT IF MY CIRCUMSTANCES CHANGE?

It is important that you keep us informed of your circumstances as we are here to help. Please keep us informed of any bank account or credit card changes as well as updating contact phone numbers, physical, postal and email addresses.

WHAT HAPPENS AT CLAIM TIME?

We need to be informed immediately that a claim needs to be made and we in turn will notify the product provider.

Part of the requirements to pay a claim are as follows:

Birth certificate
Death certificate
Policy document
Completed claim form

WHEN DOES MY COVER END?

Cover will cease when you inform the provider in writing, you cease paying premiums or the policy expires (see our product comparison to check the length of renewablity as this differs for each provider). In any of these cases the policy will cancel & no monies are payable.

WHAT IS THE DIFFERENCE BETWEEN TERM LIFE INSURANCE AND MORTGAGE REPAYMENT INSURANCE (MRI)?

Both are term life insurance with no savings and surrender value. Earlier MRI usually decreased as the size of the loan decreased (decreasing term insurance). These policies are not very common now as clients found them inflexible.

The modern MRI is similar to term insurance and is based on the amount of the mortgage borrowed. This cover does not decrease as the loan is repaid.