When you apply for UK mortgage
protection insurance you will be asked to supply a number of details, all of which
must be accurate and correct. We have composed a list of all the details that
an insurer would typically require, enabling you to be in possession of all the
relevant information before you start your application.
- Personal details- name, address and other contact details.
- Your date of birth.
- Gender.
- Marital status.
- Your employment status, occupation, employer and salary.
- The amount of insurance required- Internet companies will sometimes get
you to tot up your monthly expenditure online, and / or you might be asked for
your monthly salary. Alternatively, you will be asked to enter the amount of monthly
benefit you require. Usually insurance companies will state that this amount cannot
exceed a certain percentage of your salary, or a stipulated cash figure.
- Whether you require a joint or single policy. If you require a joint
policy then you will need to have access to the details of the other applicant.
- Whether you require cover for unemployment or disability, or both.
- The excess, or deferred, period that you require; the shorter the period
the lower your premiums will be, but the longer you will have to wait in the event
of a claim.
- The name of your mortgage lender.
- The start date of your mortgage.
- The date you require the policy to start.
- You will be asked to confirm that you reside in the UK, Channel Islands
or the Isle of Man.
- Whether your job is of a permanent nature or of a temporary or seasonal
nature (temporary workers cannot be covered by mortgage protection insurance).
- Whether you have been registered as unemployed in the last 12 months.
- Whether you are aware of any circumstances that might result in your
future unemployment.
- Whether you have had any medical attention in the last 12 months.
- Whether you are aware of any circumstances that might result in you becoming
disabled.
- You will usually have to consent permission for the insurer to seek information
from any doctor that you have consulted or an insurance company that you have
had past dealings with.
- Your preferred payment method and your bank details.
Remember that it is of the utmost importance that you are entirely honest on your
application; otherwise you risk invalidating your policy.
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