There are a number of risk considerations that need to be taken into account. It’s 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.