There are a number of risk considerations that need to be taken into account. It is important that you are aware of these.
The contract will typically exclude certain conditions, particularly those which pre-exist the commencement date of the contract. Full details will be incorporated within the Policy Summary.
- You should review the level of cover required on a regular basis to ensure that it keeps in line with your earnings, otherwise, cover may be less than you need.
- Your attention should be given to the correct procedures to be carried out in the event of a claim and also to the main conditions excluded by the policy.
- If for any reason you cease paying the premiums, the level of cover will cease.
- The benefit payable may affect your claim to means tested state benefits.
- The present tax free treatment of the policy benefits may change.
- Should you not claim, there will be no benefit payable.
- If any relevant information provided, when applying, is not disclosed accurately and honestly, this could result in any cover offered becoming invalid and/or may result in the non-payment of any future claims.
- Failing to disclose any requested or relevant information may adversely affect any future claims.
- This type of policy does not acquire a surrender value at any time.
- If this policy is to replace any existing policy offering the same type / level of cover, you must not cancel any existing policy until the new policy is in force.