Creditcare Policy Summary
This summary does not contain the full terms and conditions of your insurance policy. Full details of the terms, conditions and exclusions of your insurance policy are contained in the policy document, a copy of which is available on request.
- This insurance is underwritten by St Andrew's Life Assurance plc and St Andrew's Insurance plc. For a detailed explanation about which company underwrites which element of cover, please refer to the definition of 'We, Us, Our' in Part 1 of the policy document.
- Payment protection insurance providing life, accident and sickness, unemployment, carer and criitical illness cover.
Eligibility
To be eligible for cover you must be on the commencement date:- the first named party on your agreement
- over 18 years of age and on the repayment date be less than 65 years of age
- a UK resident
- in employment or self-employed and paying the correct class of National Insurance Contributions
- Significant features and benefits
Life insurance
We will pay the settlement figure to the Coverholder if during the period of cover you die, up to a maximum of £50,000.
Accident and sickness insurance
We will pay monthly benefit(s) up to a maximum of £1,500 per month if you are unable to work due to accident or sickness. You will be eligible for a monthly benefit to be paid after you have been disabled for a continuous period of 15 days. Further monthly benefits will become payable for each complete 30 days you are disabled up to a maximum of 12 payments in respect of any one claim. A maximum of six payments will be paid in respect of any back/spinal condition. Cover under the Accident and Sickness section of the policy is limited to 36 monthly benefits throughout the duration of the policy.
Unemployment insurance
We will pay monthly benefit(s) up to a maximum of £1,500 per month if you suffer involuntary unemployment. You will be eligible for a monthly benefit to be paid after you have been unemployed for a continuous period of 30 days. Further monthly benefits will become payable for each complete 30 days you are unemployed up to a maximum of 12 payments in respect of any one claim.
Carer cover insurance
If your work ceases due to the need for you to become a carer for a relative, we will pay an amount equal to 12 times the monthly benefit up to a maximum of £1,500 per month or the remaining monthly payments due until the policy end date (whichever is the lesser). Once a payment has been made under this part of the policy the carer cover part of the policy ceases.
Critical illness insurance
We will pay the settlement figure if you suffer a critical illness and survive for a period of not less than 30 days up to a maximum of £50,000. Critical illness means cancer, heart attack, kidney failure, coronary artery bypass graft, stroke, major organ transplant all requiring diagnosis by a doctor. - Significant exclusions
- Death resulting from a pre-existing or chronic medical condition. Details of these exclusions can be found in the policy document in Part 3A Life Exclusions.
- Accident or sickness resulting from a pre-existing or chronic medical condition, a mental or nervous disorder (eg depression) or stress-related conditions. Details of these exclusions can be found in the policy document in Part 3B Accident and Sickness Exclusions.
- Unemployment which is voluntary or results from your misconduct.
- Unemployment that you are aware of at the start of cover, or that occurs or is notified of within the first 60 days of cover.
- Unemployment if you are employed by a limited liability partnership or a company where you or any of your relatives were a director and/or shareholder (other than by way of bona fide investment in a company quoted on a recognised stock exchange). However, you will be covered if the partnership, company or person by whom you were employed totally and permanently ceases to trade at the same time or immediately following you becoming unemployed.
- Unemployment that results from the expiry of a fixed term contract of employment unless you have been employed on a yearly renewable contract which has been renewed at least once, or you have been in employment for a total unbroken period of two years or more with the same employer.
- If you are self-employed your business must have ceased to trade as a direct result of being unable to pay its debts when due.
Details of these exclusions can be found in the policy document in Part 3C Unemployment Exclusions. - If you become a carer and your work ceases for reasons not associated with becoming a carer.
- If the sickness, or injury of the person being cared for is pre-existing.
Details of these exclusions can be found in the policy document in Part 3D Carer Exclusions. - Critical illness which occurs within three months of the start of cover, or which results from a pre-existing condition.
Details of these exclusions can be found in the policy document in Part 3E, Critical Illness Exclusions.
- Other exclusions/definitions/limitations
Payment under this policy may affect your entitlement to state benefits. Other exclusions and limitations apply to this policy, see the policy document for full details.
Part 1 for 'Meaning of Words Used', (eg chronic illness, pre-existing, self-employed, etc).
Part 2 for General Provisions.
Part 3 Benefits, Section A for Life cover, Section B for Accident and Sickness cover, Section C for Unemployment cover, Section D for Carer cover, section E for Critical Illness cover. - Duration and termination
The policy will cover the term of your finance agreement up to a maximum of 120 months. Your cover will terminate at the earliest of the following:- your death
- the date you reach the age of 65
- when your finance agreement has been repaid in full
- the repayment date of your finance agreement
- Claims
All matters relating to claims should be sent to:
Claims Management Department, PO Box 336, Esher, Surrey KT10 9WD. Telephone: 0870 9052146. Fax: 01372 479451. - Complaints
All complaints relating to this policy should be referred to: Customer Liaison Manager, St Andrew's Group plc, St Andrew's House, Portsmouth Road, Esher, Surrey KT10 9SA. If you are not happy or the problem has not been resolved to your satisfaction, you may refer your complaint to the Financial Ombudsman Service who will undertake an independent and impartial review of your complaint. The address and telephone number is: Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR. Telephone: 0845 080 1800. This does not affect your legal rights. - Financial Services Compensation Scheme (FSCS)
The FSCS may assist you if we were, in some circumstances, unable to meet our liability to you. For claims against insurance firms, the first £2,000 of an insurance claim or policy is covered in full, plus 90% of the balance. For further details please contact the FSCS on telephone 020 7892 7300 or by email enquiries@fscs.org.uk.
Your right to cancel
You can cancel your cover within 30 days of receiving your policy. You will receive a full refund of any premium you have paid provided that you have not made a claim. If you have made a claim then we will be entitled to retain an amount of premium, which represents the amount of time that you have been covered by the policy. If you were to cancel your cover at any point after 30 days you may be entitled to a refund of premiums provided that you have not made a successful claim under your policy. Your refund will not be calculated on a strict pro rata basis. This is to take into account the cost of insurance during the early part of the loan while the balance is highest and the risk of an extended claim is greatest. For an illustrated example please refer to the General Provisions section of your policy conditions. If you want to cancel your cover please write to the Customer Services Department, Premier House, City Road, Chester CH88 3AN.
General
This insurance is underwritten by St Andrew's Life Assurance plc (Registered in England No. 3104670) (England) and St Andrew's Insurance plc (Registered No. 3104671) (The Insurers) whose head and registered offices are at St Andrew's House, Portsmouth Road, Esher, Surrey KT10 9SA. The main business of the Insurers is underwriting insurance risk, claims administration and claims settlement.
St Andrew's Life Assurance plc, and St Andrew's Insurance plc are authorised and regulated by the Financial Services Authority. You can check this on the FSA register by visiting the FSA website www.fsa.gov.uk/register (link opens a new window) or by contacting the FSA on 0845 606 1234.
You incur no additional costs by arranging your insurance by this method.
English law will apply to the negotiations that take place prior to the conclusion of your insurance contract.
The terms and conditions of your policy and the information provided in this document will be provided in English, during the term of your policy we will communicate using the English language.
Fraudulent claim prevention
Information about you and your insurance cover will be held by the insurers in their records for the purpose of your insurance. This includes underwriting, processing, claims handling and fraud prevention. In the event of an insurance claim, you consent that any information that you provide, whether on the application form, the claim form or otherwise, will be put onto a Register of Claims through which insurers share such information to prevent fraudulent claims. A list of participators and the name and addresses of the operator are available from the insurer.
No monthly benefit is payable for any period during which the payment of the monthly payment is deferred under the terms of your loan agreement.