Exclusions

Age rated mortgage protection insurance like other insurance polices has exclusions. Some of the exclusion may make the policy unsuitable for your needs and so you should read up on them. The policy summary will give a brief description of the major exclusions and the full policy wording will give you details of all the exclusions and how they are worded. Both these documents are available online.

Below we talk through very briefly a few of the exclusions just to give you an example of why you are encouraged to read the policy summary.

The policy does not cover you for pre-existing medical condition or chronic conditions that existed before the start date. In respect of pre-existing medical conditions this exclusion will be waived if you have not suffered form the condition for the last two years before you make your claim. Not having suffered from the condition means you have not consulted a doctor about it, received no treatment and have been symptom free. This waiver only applied to the pre-existing medical condition exclusion and there is no waiver of the chronic condition exclusion.

Such pre-existing conditions can be picked up by insurers if there is a claim because insurers will often require medical information from your doctor in order to review the claim.

The self employed are only covered for involuntary unemployment if their business is being wound up or has stopped trading. The definition of self employed is a wide definition. This is different from just going through a bad patch when there is not much work about.

Voluntary redundancy is also excluded and this can affect employed people who work in an industry sector who favour the use of voluntary redundancy to reduce employee numbers.

If you were aware that a claim was in the pipe line before you took the policy out then that is excluded.

Self inflicted injuries and claims caused by drug or alcohol abuse are excluded.

Involuntary unemployment is excluded if you were not in continuous employment for six months prior to the date you became unemployed. If you were not in work for two weeks or less then insurers will not count this as a break in your employment.

If you are made unemployed due to misconduct or the mis-conduct contributed towards you being made unemployed then that is also excluded.

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