About this Mortgage Payment Protection Insurance

HCforyou is a trading name of Hitachi Capital (UK) PLC

Home mortgage protection protection insurance

 

Policy Summary

This document provides a summary of cover only. It does not contain the full terms and conditions of the policy which can be found in the policy document. It is essential that you read the full policy document to ensure that you understand the product purchased.

Who is the Insurer?

Hitachi Capital Insurance Europe Limited.

What is Mortgage Payment Protection Insurance?

The policy will pay the amount you have declared as your mortgage or rental payments (plus any extra cover amount you have selected in respect of your regular outgoings), should you become unable to work as a result of unemployment and/or disability. The benefit will be paid after any deferred period (depending on the period chosen at the time of purchase).

Eligibility

You are eligible for any section of this cover provided:

·   you have a residential mortgage or rental agreement to protect

·   at the start date you are working in the UK and have been so, continuously (for at least 16 hours per week), for the previous 6 months

·   you are permanently resident in the UK

·   at the start date you are 18 or over and under 65

·   you have paid or agreed to pay the premiums and your application has been accepted as evidenced by the issuing of the certificate.

How long does my Mortgage Payment Protection last?

Your policy is arranged on a monthly basis. You must pay your monthly premium each month. Each monthly premium covers you for one month. If your monthly premium has not been paid the policy will lapse and cover will cease from the date your monthly premium was due. Your cover and any benefit being paid will end automatically on any of the following:

·   your death

·   your 65th birthday

·   when your mortgage or rental

agreement ends

Policy Summary

This document provides a summary of cover only. It does not contain the full terms and conditions of the policy which can be found in the policy document. It is essential that you read the full policy document to ensure that you understand the product purchased.

About this Mortgage Payment Protection Insurance

·   on the day all amounts are paid to the lender under your mortgage agreement

·   you do not pay your monthly premium due on this insurance

·   you are 3 months behind with your monthly repayments under your mortgage

·   the date you permanently retire from work.

What are the Benefits of Mortgage Payment Protection?

The classes of cover and benefits of this policy are as follows and will be paid after any deferred period (30 or 60 days depending on the period chosen by you at the time of purchase).

Unemployment

This policy will pay one thirtieth of the mortgage or rental agreement monthly repayment plus extra cover amount (if selected) for each day of absence from work after the deferred period. The maximum payable is 12 months in any one claims period.

Disability

This policy will pay one thirtieth of the mortgage or rental agreement monthly repayment plus extra cover amount (if selected) for each day of absence from work after the deferred period. The maximum payable is 12 months in any one claims period.

Unemployment and Disability

This policy will pay one thirtieth of the mortgage or rental agreement monthly repayment plus extra cover amount (if selected) for each day of absence from work after the deferred period. The maximum payable is 12 months’ unemployment benefit and 24 months’ disability benefit in any one claims period.

What am I Not Covered For Under Mortgage Payment Protection?

There are some situations that you are not covered for and full details are found in the policy document.

General Exclusions

(see page 3 of the policy wording)

We will not pay any monthly benefit if you are unable to work due to:

·   normal pregnancy and childbirth related conditions

·   HIV (Human Immunodeficiency Virus) and/or any other HIV-related illness including AIDS (Acquired Immune Deficiency Syndrome)

·   alcohol or drug abuse

·   any civil unrest, terrorism, nuclear radiation or

contamination from nuclear waste or any

related event, or any act related to war. We will not pay any monthly benefit:

·   if you have not paid your premium

·   if you do not tell us about your claim for disability or unemployment within 6 months of the event.

Unemployment Exclusions

(see pages 4 of the policy wording)

·   any future unemployment which you were aware of at your policy commencement date

·   if you receive notification of unemployment within the first 60 days of your policy commencement date

·   expiry of fixed term employment

·   seasonal occupations

·   when you have not been in continuous work for 6 months

·   unemployment which is in any way voluntary

·   any deferred period selected at the time of purchase of the policy.

Disability Exclusions

(see page 4 of the policy wording)

·   any condition, injury or sickness which is present within the 12 months preceding the start date

·   normal pregnancy and childbirth

·   stress, anxiety or any mental disorder

·   backache and related conditions

·   self inflicted injury

·   any disability that occurs while you are
working outside the United Kingdom

·   any deferred period selected at the time of purchase of the policy.

Cancellation

You have the right to cancel this policy within 30 days of receiving the Certificate of Insurance without financial penalty provided you have not made a claim. Thereafter both parties must give 60 days’ notice ofc ancellation and no refund of premium will be given. We reserve the right to withdraw cover should any monthly premium not be met within 14 days of its due date.

How do I make a claim?

You should telephone the claims line number 0870 609 2083, or write to Hitachi Capital Insurance Europe Ltd 2 Apex View, Leeds LS11 9BH.

How do I make a complaint?

If you have a complaint about the way in which this policy was sold to you please contact the agents that sold you the policy and they will be able to provide you with their complaints procedure. Any complaint you may have about this contract should be communicated in the first instance to

The Customer Satisfaction Manager Hitachi Capital Insurance Europe Ltd 2 Apex View, Leeds, LS11 9BH. Telephone no: 0870 609 2083.

Please be ready to quote your certificate number so that your complaint may be dealt with promptly. In the unlikely event that the complaint is still not resolved to your satisfaction, you may refer to the Financial Ombudsman Service whose address is

South Quay Plaza

183 Marsh Wall

London

E14 9SR

Telephone no: 0207 964 1000

Please note you have six months from the date of our final response in which to refer your complaint to the Financial Ombudsman. Referral to the Ombudsman will not affect your right to take legal action against us. None of the above affects any right of legal action you may have.

Would I receive compensation if the insurer were unable to meet its liabilities? Hitachi Capital Insurance Europe Limited is covered by the Financial Services Compensation Scheme (FSCS). You may be entitled to compensation from the scheme if Hitachi Capital Insurance Europe Limited cannot meet its obligations.

This depends on the type of business and the circumstances of the claim. Insurance advising and arranging is covered for 100% of the first £2000 and 90% of the remainder of the claim without any upper limit. Further information about the compensation scheme is available from the FSCS helpline on 0207 892 7300 or visit their website at www.fscs.org.uk

Status Disclosure

Hitachi Capital (UK) PLC is authorised and regulated by the Financial Services Authority, register number 309255. You can check this on the FSA’s register by visiting the FSA’s website www.fsa.gov.uk/register or by contacting the FSA on 0845 606 1234. Hitachi Capital (UK) PLC, Wallbrook Business Centre, Green Lane, Hounslow, Middlesex TW4 6NW.