Over 50s Life Insurance

Transcription

1 Provided by Lega & Genera Over 50s Life Insurance Poicy Terms and Conditions T&C 17CH 1

2 Ateration to your Poicy Terms and Conditions It is important to read through the aterations detaied beow as these repace sections 4, 7.3 and 10 in your Poicy Terms and Conditions. 4. Premiums 4.1 Paying your premiums Premiums are due from the poicy start date and at monthy intervas as shown in your Poicy Schedue. Premiums are due up to and incuding your 90th birthday. Once your 90th birthday has passed no further premiums wi be coected by us, but the cover provided by this poicy wi continue unti your death. 4.2 Amount of your premiums? The premium for this poicy wi not change. 4.3 Can I reduce my premium? You may be abe to reduce your premium, as ong as you have hed your poicy for at east one year. If you choose to reduce your premium it cannot go beow the minimum premium and your benefit wi reduce. This option can be used once per poicy, as ong as we sti offer this option. For further information pease ca us on We wi write to you to confirm if this change can be made. We may record and monitor cas. Ca charges wi vary. 4.4 What happens if the premiums are not paid? We are entited to cance this poicy if any premiums are not paid within 30 days of their due date. If we cance this poicy, the poicy wi end and no further premiums wi be payabe. The benefit wi no onger be payabe. We wi not refund any premiums aready paid. This does not appy once you have passed your 90th birthday, when no further premiums wi be coected by us but the cover provided by this poicy wi continue unti your death If you have chosen the Funera Benefit Option The Funera Service Provider wi be informed and the funera wi not be provided. 7. Genera Conditions 7.3 You can take out additiona Over 50s Life Insurance poicies as ong as your tota benefit for a Over 50s Life Insurance Pans with us is not more than 25, The Financia Services Compensation Scheme (FSCS) The FSCS is designed to pay compensation if a firm is unabe to pay caims, because it has stopped trading or been decared in defaut. So, if we run into financia difficuties, you may be abe to caim via the FSCS for any money you have ost. However, before ooking to pay compensation, the FSCS wi first see if they can arrange for the continuity of your current poicy. FSCS may arrange for your poicy to be transferred to another insurer or arrange for a new poicy to be provided. Most of our customers, incuding most individuas and sma businesses, are covered by the FSCS. Whether or not you can caim, and the amount you coud caim, wi depend on the specific circumstances of your caim. The FSCS wi pay 100% of the vaue of the caim. You can find out more about the FSCS, incuding eigibiity to caim, by visiting its website or caing The rues of the FSCS might change in the future and the FSCS may take a different approach on their appication of the above, depending on what ed to the faiure. 4.5 How do you cacuate the overa cost of the poicy? Your poicy is designed to ast for the rest of your ife. Therefore it is difficut to say how much the overa cost of the poicy wi be. Your Key Features document wi show you the tota premium you pay to age 90. For exampe if your current premium is 20 per month and your poicy runs for 10 years, the tota premiums you woud expect to pay, if the detais remain unatered, woud be; 20 x 12 months x 10 years = 2,400. It is important to be aware that this is ony an exampe. Your benefit amount stays the same over the ength of the poicy. Lega & Genera Assurance Society Limited Registered in Engand and Waes No Registered office: One Coeman Street, London EC2R 5AA Lega & Genera Assurance Society Limited is authorised by the Prudentia Reguation Authority and reguated by the Financia Conduct Authority and the Prudentia Reguation Authority. Q53768CH 04/16

3 Contents 1. Introduction 3 2. Definitions expained 3 3. Cover provided Who is covered? 3.2 Amount of cover 3.3 Period of cover 4. Premiums Paying your premiums 4.2 Amount of your premiums 4.3 What happens if the premiums are not paid? 4.4 How do you cacuate the overa cost of the poicy? 5. About the funera benefit option What is the Funera Benefit Option? 5.2 What happens if the benefit amount chosen is different to the cost of the funera? 5.3 What if the Funera Service Provider is unabe to provide the funera? 5.4 What if you or your famiy do not want the Funera Service Provider to provide the funera? 6. Death in the first year Accidenta death 6.2 Non accidenta death 7. Genera conditions 5 8. Making a caim When is the benefit payabe? 8.2 Notifying us of a caim 8.3 Assessing your caim 8.4 Who we pay the benefit to 8.5 What happens after a caim has been paid? 9. How to Contact us 9.2 Pace your poicy into trust 9.3 Cance this poicy 9.4 Make a compaint 10. The Financia Services Compensation Scheme (FSCS) 7 2

4 1. Introduction Wecome to Churchi Thank you for choosing Churchi Over 50s Life Insurance, provided and administered by Lega & Genera. Churchi has chosen Lega & Genera as its provider as they ve been heping peope to protect their famiies financiay since This Over 50s Life Insurance is designed to pay the benefit when you die. When you take out this poicy you must be aged 50 to 80, a UK resident and reside in the UK for at east 183 days a year. Words that appear in bue bod are expained in section 2. We suggest that you review your cover from time to time to make sure it s sti right for you. You shoud aso think about teing your intended beneficiaries about this poicy, in case a caim needs to be made. This poicy sets out your contract with us and shoud be kept in a safe pace. Pease check your Poicy Schedue carefuy and if any detais are incorrect, pease contact us as shown in section 9.1. This poicy consists of: the Poicy Schedue, and these poicy terms and conditions. Your Poicy Schedue is personaised to show the cover and excusions that appy to your poicy. 2. Definitions expained Accident A sudden and unexpected event, which happens after the poicy start date. Benefit The benefit is a cash sum as shown in your Poicy Schedue. Bodiy Injury Injury to your body, excuding sickness, disease or any degenerative process resuting from externa, vioent and visibe means. Charge or Charged A ega term meaning that the benefit wi be paid directy to the Funera Service Provider for the funera that has taken/wi take pace. Funera Service Provider The funera services are provided by Dignity Funeras Limited. They are responsibe for providing and arranging the funera and not us. Pease contact Dignity as shown in section 9. Lega Successor The person(s) egay entited to your estate upon your death. Our, us or we Lega & Genera Assurance Society Limited. Poicy The poicy issued by us, which consists of these poicy terms and conditions and your Poicy Schedue. Poicy Schedue The schedue which shows the cover that you have under your poicy and forms part of this poicy. Poicy start date The start date of this poicy, as shown in your Poicy Schedue. Premium(s) The amount you pay to us for this poicy as shown in your Poicy Schedue. You or Your The owner of this poicy as shown as the grantee in the Poicy Schedue. 3. Cover provided 3.1 Who is covered? You are covered. 3.2 Amount of cover The amount of cover provided is the benefit as shown in your Poicy Schedue. 3.3 Period of cover This cover starts on the poicy start date and ends on your death. 4. Premiums 4.1 Paying your premiums Premiums are due from the poicy start date and at monthy intervas as shown in your Poicy Schedue. Premiums are due up to and incuding your 90th birthday. Once your 90th birthday has passed no further premiums wi be coected by us, but the cover provided by this poicy wi continue unti your death. 4.2 Amount of your premiums The premium for this poicy wi not change. 4.3 What happens if the premiums are not paid? We are entited to cance this poicy if any premiums are not paid within 30 days of their due date. If we cance this poicy, the cover wi end and no further premiums wi be payabe. The benefit wi no onger be payabe. We wi not refund any premiums aready paid. This does not appy once you have passed your 90th birthday, when no further premiums wi be coected by us but the cover provided by this poicy wi continue unti your death If you have chosen the Funera Benefit Option The Funera Service Provider wi be informed and the funera wi not be provided. 4.4 How do you cacuate the overa cost of the poicy? Your poicy is designed to ast for the rest of your ife. Therefore it is difficut to say how much the overa cost of the poicy wi be. Your Key Features document wi show you the tota premium you pay to age 90. For exampe, if your current premium is 20 per month and your poicy runs for 10 years, the tota premiums you woud expect to pay, if the detais remain unatered, woud be: 20 x 12 months x 10 years = 2,400 It is important to be aware that this is ony an exampe. Your benefit amount stays the same over the ength of the poicy. 3

5 5. About the Funera Benefit Option 5.1 What is the Funera Benefit Option? The Funera Service Provider wi pay an additiona amount towards your funera. This amount wi not be shown in your Poicy Schedue. A Wecome Pack wi be sent by the Funera Service Provider to you within 28 days of you taking out the Funera Benefit Option. The Over 50s Life Insurance can be charged to the Funera Service Provider. This means that in the event of your death the Funera Service Provider is paid the benefit from your poicy which wi be used towards your funera costs. You can choose to charge the poicy to the Funera Service Provider on the poicy start date, or at any point before your death. You can choose this option by contacting us. 5.2 What happens if the benefit amount chosen is different to the cost of the funera? If the benefit is more than the amount required to provide the funera service, the remainder wi be paid by us to your ega successor. If the benefit is ess, the difference woud need to be paid to the Funera Service Provider by your ega successor. 5.3 What if the Funera Service Provider is unabe to provide the funera? If the Funera Service Provider is unabe to provide a funera service we wi search for an aternative provider. If we are unabe to find a suitabe aternative, the benefit wi be paid to your ega successor. 5.4 What if you or your famiy do not want the Funera Service Provider to provide the funera? a) If you decide you do not want the funera or you want to remove the charge pease contact us. We wi te the Funera Service Provider that the charge has been removed and the iabiity for the Funera Service Provider to provide the funera wi stop. On your death the benefit wi be paid to your ega successor. b) If your ega successor decides after your death that they do not want the funera service with the Funera Service Provider the charge can be removed at this stage. The benefit wi then be paid to your ega successor provided the benefit has not aready been paid to the Funera Service Provider. 6. Death in the first year 6.1 Accidenta death If within one year of the poicy start date, you sustain bodiy injury caused by an accident which soey and independenty of any other cause resuts in death and death occurs within 90 days of the accident then the benefit wi be paid to your ega successor, instead of a refund of premiums. If you have chosen the Funera Benefit Option, the charge wi be reeased and the benefit wi be paid to your ega successor and not to the Funera Service Provider. However, we wi pay a refund of premiums if the bodiy injury resuting in death occurs either directy or indirecty from: (a) sef-inficted injury, incuding intentionay taking your own ife; (b) taking part or attempting to take part in a hazardous sport or pastime; (c) taking part or attempting to take part in any aeria fight other than as a fare paying passenger on a icensed airine; (d) committing, attempting or provoking an assaut or any crimina offence; (e) war (whether decared or not), riot or civi commotion; or (f) taking acoho or drugs (uness these drugs were prescribed by a registered doctor in the United Kingdom). 6.2 Non accidenta death In the event of a non accidenta death, we wi pay a refund of premiums rather than the benefit amount. The refund of premium wi be paid to your ega successor. 4

6 7. Genera conditions 7.1 During the appication process we wi ask you for your date of birth to make an assessment and offer you a poicy. You are required to answer this question honesty and accuratey. (a) If you (or an agent acting on your behaf) deiberatey or reckessy provide an inaccurate answer we are entited to cance this poicy and refuse to pay the benefit. In these circumstances we may not refund any premiums you have aready paid. (b) If you (or an agent acting on your behaf) provide an inaccurate answer through careessness, we are entited to amend the poicy to refect the terms that woud have been offered had the accurate information been known. In these circumstances: if we woud not have issued your poicy had an accurate answer been provided, we are entited to cance your poicy, however we wi refund any premiums you have aready paid; if we woud have issued your poicy on different terms and conditions (other than those reating to premiums) had an accurate answer been provided, we may make changes to your poicy terms and conditions and treat your poicy as if it had been issued on the different terms and conditions; in addition, if we woud have issued your poicy with higher premiums had an accurate answer been provided, we may reduce the benefit to refect the higher premiums that woud have appied had an accurate answer been provided. The foowing formua wi be used in these circumstances: New amount of cover = Premium actuay charged x origina benefit Higher premium 7.2 We may make fair and reasonabe changes to these poicy terms and conditions. We wi ony do so: a) to make our terms cearer or more favourabe to you; b) if there are any reevant changes in egisation, reguation or taxation; or c) if we change the Funera Service Provider. If this happens, we wi notify you in writing at east 30 days in advance of any changes being made. 7.3 You can take out additiona Over 50s Life Insurance poicies as ong as the tota of a the initia premiums added together are not more than 50 per month. This wi incude any existing Over 50s Life Insurance you may have with us. 7.4 This poicy is governed by Engish aw. 7.5 A communication in reation to this poicy wi be in Engish. 8. Making a caim 8.1 When is the benefit payabe? The benefit is payabe on your death except where death is in the first year from the poicy start date as described in section Notifying us of a caim When making a caim under this poicy, your ega successor shoud notify us using our caims contact detais in section 9. We wi send a caim form to your ega successor, which shoud be returned to us Over 50s Life Insurance We wi need the foowing when we are notified of the caim: Your poicy number, The date of death, and Your contact detais If you have chosen the Funera Benefit Option Your ega successor shoud contact the Funera Service Provider, as shown in section 9. When your ega successor is making a caim, the Funera Service Provider wi need the foowing: Your fu name, address and date of birth, Your poicy number, and Your Funera Service Provider member number. 8.3 Assessing your caim Over 50s Life Insurance In order to assess the caim we may need your Poicy Schedue, the death certificate and any other documents we may reasonaby request. In the case of an accidenta death during the first year of the poicy start date, we may ask for confirmation of the circumstances surrounding the death from the coroner If you have chosen the Funera Benefit Option The Funera Service Provider wi check with us that a premiums have been paid and that the charge is sti in pace, prior to providing the funera service. 8.4 Who we pay the benefit to Over 50s Life Insurance The benefit is paid to your ega successor If you have chosen the Funera Benefit Option The benefit wi be paid to the Funera Service Provider who wi provide the funera service. However, if you die within the first year of your poicy start date the benefit wi be paid to your ega successor. 8.5 What happens after a caim has been paid? Once the benefit has been paid the poicy wi end. 5

7 9. How to Contact us If you need to contact us for any reason, pease use the contact detais beow. Pease quote your poicy number as shown in your Poicy Schedue when making any enquiries. We may record and monitor cas. Ca charges wi vary. Phone number Contact address Genera enquiries Death Caims Lega & Genera Assurance Society Limited (Head Office) City Park The Droveway Hove East Sussex BN3 7PY Emai: Funera Service Provider Lines are open 24 hours a day, every day of the year Dignity Funeras Limited 4 King Edwards Court King Edwards Square Sutton Codfied West Midands B73 6AP Make a compaint Lega & Genera Assurance Society Limited Knox Court 10 Fitzaan Pace Cardiff CF24 0TL 9.2 Pace your poicy into trust Depending on your circumstances, it may be appropriate to pace your poicy into trust. For more information about trusts, pease contact your financia or ega adviser. However, this is not possibe if you have chosen the Funera Benefit Option. 9.3 Cance this poicy You can cance this poicy at any time. Once this poicy starts we wi send you a notice of your right to cance. If you cance this poicy within 30 days of receiving both the notice and this poicy, we wi refund any premiums paid. If you cance this poicy after 30 days of receiving both the notice and this poicy, you wi not get any money back. If you cance this poicy, the poicy wi end and no further premiums or benefit wi be payabe If you have chosen the Funera Benefit Option If you cance this poicy, the charge wi not appy and no benefit woud be paid to the Funera Service Provider. 9.4 Make a compaint If you wish to compain about the service you have received from us or the Funera Service Provider, or you woud ike us to send you a copy of our compaints handing procedure, pease contact us as shown in section 9.1. If you remain dissatisfied, you can compain to: The Financia Ombudsman Service Exchange Tower London E14 9SR Teephone: Emai: compaint.info@financia-ombudsman.org.uk Website: Making a compaint wi not affect your ega rights. 6

8 10. The Financia Services Compensation Scheme (FSCS) The FSCS is designed to pay compensation if a firm is unabe to pay caims, because it has stopped trading or been decared in defaut. So, if we run into financia difficuties, you may be abe to caim via the FSCS for any money you have ost. However, before ooking to pay compensation, the FSCS wi first see if they can arrange for your current poicy to be maintained. They may arrange for your poicy to be transferred to another insurer or provide a new poicy. If these aren t possibe, the FSCS aims to provide compensation. Most of our customers, incuding most individuas and sma businesses, are covered by the FSCS. Whether or not you can caim, and the amount you coud caim, wi depend on the specific circumstances of your caim. The FSCS wi pay 90% of the vaue of the caim. There is no upper financia imit on the amount of the payment. You can find out more about the FSCS, incuding eigibiity to caim, by visiting its website or caing The rues of the FSCS might change in the future and the FSCS may take a different approach on their appication of the above, depending on what ed to the faiure. 7

9 Lega & Genera Assurance Society Limited Registered in Engand and Waes No Registered office: One Coeman Street, London EC2R 5AA Lega & Genera Assurance Society Limited is authorised by the Prudentia Reguation Authority and reguated by the Financia Conduct Authority and the Prudentia Reguation Authority. CW1985CH 06/15