CREDIT CARD PROTECTION : CREDIT CARD PAYMENT PROTECTION INSURANCE - Paymentcare Limited

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Paymentcare are members of BIBA the British Insurance Brokers Association

Paymentcare : "Provider of Independent Credit Card Protection Insurance UK"
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CREDIT CARD PAYMENT PROTECTION INSURANCE

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	To Download the Policy Wording for Credit Card Payment Protection click on the button below

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IMPORTANT FACTS YOU SHOULD KNOW ABOUT CREDIT CARD PROTECTION

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The need for Credit Card Payment Protection Insurance

No one knows what the future will hold and if you become unemployed or need to look after a partner, spouse, parent or child full time or you were disabled due to an accident or sickness (Disability) you may not be able to meet your financial commitments. Over 70% of people will not qualify for Income Support and those who do will receive a small percentage of their normal income.

This Credit card payment protection insurance provides protection in the event of Accident & Sickness (Disability), Involuntary Unemployment, Carer, Death, Terminal Illness and Hospitalisation.

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Some facts about credit card protection cover

Cover in respect of your average monthly outstanding credit card balance(s):

Minimum average monthly outstanding balance cover available is £1000.

Maximum average monthly outstanding balance cover available is £10000 in total.

10% of the selected average monthly outstanding balance cover is paid for up to a maximum of 12 months per claim.

One monthly benefit payable after 7 days hospitalisation and thereafter on a daily basis, monthly in arrears.

One monthly benefit payable after 14 days Accident & Sickness (Disability) and thereafter on a daily basis from day 31, monthly in arrears.

One monthly benefit payable after 30 days Unemployment and thereafter on a daily basis, monthly in arrears.

Two months Carer benefit paid via this credit card payment protection insurance policy after 60 days and then on a daily basis monthly in arrears.

Life and Terminal Illness benefit paid on death or diagnosis of a Terminal Illness.

There is a 3 month re-qualification period after each claim.

The risks of this credit card payment protection insurance policy are underwritten by Brit Insurance Limited in respect of disability and unemployment, and Sterling Life Limited in respect of Life and terminal illness.

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Eligibility Criteria

You can apply for cover under this credit card payment protection insurance policy if on the start date:

You are taking out this credit card payment protection policy to insure your average monthly outstanding credit card balance(s); and

You are permanently resident in the United Kingdom; and

You are aged 18 or over at the start date and will not have passed the statutory retirement age (currently aged 65 for males and aged 60 for females) before the termination date of cover; and

You are actively working on the start date and when your credit card payment protection claim occurs, for no less than 16 hours each week; and

You have been continuously employed for at least 6 months immediately prior to the start date of this credit card payment protection policy; and

Your place of work is within the United Kingdom; and

You agree to abide by the terms and conditions of this credit card payment protection insurance policy.

You cannot be covered under this credit card payment protection insurance policy if on the start date:

You are not personally named on the credit card agreement(s); or

Prior to the commencement of this credit card payment protection insurance policy you are aware of any impending unemployment or disability which may affect you or you are aware of any circumstances which may result in you becoming a full time carer; or

You are in casual, temporary or seasonal employment.

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Your credit card payment protection insurance cover will cease on the earliest date of the following occurrence:

You die; or

You retire from work or reach the statutory retirement age, whichever is the earlier; or

You stop living or working in the United Kingdom; or

Your premium payment is more than 30 days overdue; or

You or we cancel your cover under this policy.

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Significant exclusions

In common with all similar credit card payment protection insurance policies, cover does not extend to the following:

Any condition or disease which was known at the start date or for which you have received treatment or advice during the 12 months before the start date.

Temporary or seasonal unemployment.

Expiry of fixed term contracts (unless you have been employed on a renewable fixed term contract with the same employer for more than 2 consecutive years or on an annual contract which has been renewed).

Impending or voluntary unemployment or early retirement.

Dismissal due to misconduct or breach of contract.

Disability due to stress, Aids or HIV, nervous disorder or backache unless a consultant certifies the condition solely prevents you from working.

Self inflicted injuries, drug or alcohol abuse, attempted suicide or treatment that is not medically necessary, including cosmetic surgery.

Pregnancy, unless a medical complication occurs.

Periods of claims whilst outside the UK for a period of more than 90 days.

Claims for unemployment that occur within 90 days of the start date of this credit card payment protection insurance

Your death or terminal illness is within the first three months of your policy start date.

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Credit Card Payment Protection Claims Procedure

In the unfortunate event of you becoming Disabled or made Involuntary Unemployed all you need to do is telephone the claims administration help line on 0845 408 0270 and all assistance will be provided.

In order to qualify for a claim you would need to be unable to work due to:

Unemployment for 30 consecutive days without interruption.

Accident & Sickness (Disability) for 14 consecutive days without interruption.

Hospitalisation for 7 consecutive days without interruption.

Being a full time carer with no other income for 60 consecutive days without interruption.

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Complaints procedure

If you have any cause to complain, or you feel that we have not kept our promise, please follow the procedures below.

For complaints relating to the administration or claims handling of this insurance, except life or terminal illness, please write to the administrator, Adminicle Limited at Callidus House, Cirencester Business Park, Love Lane, Cirencester, Gloucestershire GL7 1XD, Telephone 0845 408 0270. When you do this quote your policy number, which is on your certificate of insurance.

If after this action you are still not satisfied with the way a complaint has been dealt with, for disability or unemployment you should contact Customer Relations at Brit Insurance Limited, 55 Bishopsgate, London EC2N 3AS, Telephone 0207 984 8789; or

2.	For complaints concerning life or terminal illness cover you should contact the customer services manager at Sterling Life Limited, Ambassador House, Paradise Road, Richmond upon Thames, Surrey TW9 1SQ, Telephone 08702 242 390.

3.	For complaints relating to the selling of this insurance please contact the sales agent from which this insurance was purchased. When you do this quote your policy number, which is on your certificate of insurance.

If you still remain dissatisfied after following the above procedures in full, you can ask the Financial Ombudsman Service to review your case. Their address is Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR, Telephone 0845 080 1800.

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Back to work service

This credit card payment protection insurance policy includes a confidential and independent back to work advice programme called Jobcare. This service is free and is provided by employment specialists PMA Limited.

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Cancellation

You can cancel this credit card payment protection insurance within 30 days of the start date and any premium paid will be refunded, PROVIDED YOU HAVE NOT MADE A CLAIM UNDER THE POLICY. You can cancel this credit card payment protection insurance at any time thereafter by writing to: Adminicle Limited, whose registered office is Callidus House, Cirencester Business Park, Love Lane, Cirencester, Gloucestershire, GL7 1XD.

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Insurers

The disability and unemployment insurance is underwritten by Brit Insurance Limited. Registered office: 55 Bishopsgate, London, EC2N 3AS. Registered in England number: 02763688, and who are authorised and regulated by the Financial Services Authority, registration number: 202898.

The life and terminal illness insurance is underwritten by Sterling Life Limited. Registered office: Ambassador House, Paradise Road, Richmond upon Thames, Surrey, TW9 1SQ. Registered in England number: 911235, and who are authorised and regulated by the Financial Services Authority, registration number: 202178.

Paymentcare Limited offers various insurance policies on a non-advised basis only. We offer no advice or recommendation as to the suitability of a product for your specific financial needs. You should ensure that you are happy that the product is suitable for your needs. If you require advice we recommend you contact your financial advisor.

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