Principality Building Society Mortgage Payment Protection Insurance Policy (ASU)
Full product details for the Principality Building Society Mortgage Payment Protection Insurance Policy (ASU) mortgage protection policy, including application criteria, policy details, accident & sickness cover, unemployment cover, claims, premiums & fees, exclusions and restrictions.
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This product is only available to individuals who are permanent UK residents.
UK Residents Only
yes
You must be a UK resident. To qualify for cover You qualify for MPPI provided that you are named on the mortgage and that on the date your cover begins (the start date) you are: 1. Over 18 and under 64 years of age; 2. Permanently resident within the United Kingdom; 3. Working within the United Kingdom, and have been so continuously for the previous 6 months; 4. Not absent from work due to accident or sickness (other than minor illnesses such as a cold or flu); 5. Not aware of any job losses to be imposed by your employer that are about to happen and are likely to affect you; 6. A mortgage customer; and 7. Not aware that you will have to give up work to become a carer.
If you have a joint mortgage each person being insured must meet the above requirements to qualify for cover. The monthly benefit will be split between you, in proportion to your income. This apportionment will be based upon each of your average gross monthly incomes over the 12 month period immediately prior to your claim date.
Minimum Age
18 years
The minimum age at outset is 18 attained. To qualify for cover You qualify for MPPI provided that you are named on the mortgage and that on the date your cover begins (the start date) you are: 1. Over 18 and under 64 years of age; 2. Permanently resident within the United Kingdom; 3. Working within the United Kingdom, and have been so continuously for the previous 6 months; 4. Not absent from work due to accident or sickness (other than minor illnesses such as a cold or flu); 5. Not aware of any job losses to be imposed by your employer that are about to happen and are likely to affect you; 6. A mortgage customer; and 7. Not aware that you will have to give up work to become a carer.
If you have a joint mortgage each person being insured must meet the above requirements to qualify for cover. The monthly benefit will be split between you, in proportion to your income. This apportionment will be based upon each of your average gross monthly incomes over the 12 month period immediately prior to your claim date.
Maximum Age
63 years
The maximum age at outset is 63 attained. To qualify for cover You qualify for MPPI provided that you are named on the mortgage and that on the date your cover begins (the start date) you are: 1. Over 18 and under 64 years of age; 2. Permanently resident within the United Kingdom; 3. Working within the United Kingdom, and have been so continuously for the previous 6 months; 4. Not absent from work due to accident or sickness (other than minor illnesses such as a cold or flu); 5. Not aware of any job losses to be imposed by your employer that are about to happen and are likely to affect you; 6. A mortgage customer; and 7. Not aware that you will have to give up work to become a carer.
If you have a joint mortgage each person being insured must meet the above requirements to qualify for cover. The monthly benefit will be split between you, in proportion to your income. This apportionment will be based upon each of your average gross monthly incomes over the 12 month period immediately prior to your claim date.
Minimum Period of Employment
6 months
The minimum working period is 6 months. To qualify for cover You qualify for MPPI provided that you are named on the mortgage and that on the date your cover begins (the start date) you are: 1. Over 18 and under 64 years of age; 2. Permanently resident within the United Kingdom; 3. Working within the United Kingdom, and have been so continuously for the previous 6 months; 4. Not absent from work due to accident or sickness (other than minor illnesses such as a cold or flu); 5. Not aware of any job losses to be imposed by your employer that are about to happen and are likely to affect you; 6. A mortgage customer; and 7. Not aware that you will have to give up work to become a carer.
If you have a joint mortgage each person being insured must meet the above requirements to qualify for cover. The monthly benefit will be split between you, in proportion to your income. This apportionment will be based upon each of your average gross monthly incomes over the 12 month period immediately prior to your claim date.
Work/Working Receiving payment for working at least 16 hours per week under a permanent contract, a fixed-term contract or as self-employed. A period of maternity will still count as work.
Minimum Weekly Working Hours
16 hours
The minimum working hours set is 16 hours per week. To qualify for cover You qualify for MPPI provided that you are named on the mortgage and that on the date your cover begins (the start date) you are: 1. Over 18 and under 64 years of age; 2. Permanently resident within the United Kingdom; 3. Working within the United Kingdom, and have been so continuously for the previous 6 months; 4. Not absent from work due to accident or sickness (other than minor illnesses such as a cold or flu); 5. Not aware of any job losses to be imposed by your employer that are about to happen and are likely to affect you; 6. A mortgage customer; and 7. Not aware that you will have to give up work to become a carer.
If you have a joint mortgage each person being insured must meet the above requirements to qualify for cover. The monthly benefit will be split between you, in proportion to your income. This apportionment will be based upon each of your average gross monthly incomes over the 12 month period immediately prior to your claim date.
Work/Working Receiving payment for working at least 16 hours per week under a permanent contract, a fixed-term contract or as self-employed. A period of maternity leave will still count as work.
Available via
direct
Online Quote
yes
Available Online
no
Self Employed
yes
Self-employed individuals are covered. Work/Working Receiving payment for working at least 16 hours per week under a permanent contract, a fixed-term contract or as self-employed. Unemployment insurance If you were self-employed, you are covered if you ceased trading due to insolvency of your business and have declared this to the HM Revenue and Customs.
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