SureProtect Income Protection Insurance Policy Summary Important Information - you should read this This document summarises the main features, benefits and exclusions of the SureProtect Income Protection insurance policy. It does not contain the full terms and conditions, which are set out in the accompanying policy booklet. This is a summary of all cover provided. The scheme is arranged by Cavere Limited who acts as an agent of the insurer for administration of the policy, collection and refunds of premiums. Premiums are collected by Cavere Limited under a risk transfer agreement from the insurer. This means that premiums are treated as being received by the insurer when received in our bank account and that any premium refund is treated as received by you when it is actually paid over to you. Cavere Limited are authorised by the insurers, Qudos Insurance A/S (we/us/our/the Insurer), to sell this insurance. What is the SureProtect Income Protection Insurance policy? This SureProtect Income Protection insurance policy can help you protect a proportion of your monthly income if you become unemployed through no fault of your own, or become a Full-time Carer for a partner or relative, or suffer an accident or sickness which prevents you from working or you are hospitalised. What type of cover is available under this insurance policy? The cover you have selected will be shown on your policy schedule. We offer four types of cover: Unemployment and Full-time Carer only; or Unemployment, Full-time Carer and Accidental Death only; or Accidental Death, Accident and Sickness, Hospitalisation and Fracture Cover only; or Accidental Death, Accident and Sickness, Hospitalisation, Fracture, Unemployment and Full-time Carer cover. The Accidental Death, Accident, Sickness, Hospitalisation, Fracture, Unemployment and Full-time Carer cover provides the maximum protection under the policy.
How does the policy work? You should choose the type of cover you need and the level of benefit that is suitable to your demands and needs. You pay the premium as it falls due on a monthly basis. In the event of a valid claim we will not pay out more than 12 monthly benefit payments as specified in your policy documents. We will not pay out more than the total monthly benefit as specified on your policy schedule. Who provides the insurance cover? This insurance is underwritten by Qudos Insurance A/S and the policy is administered by Cavere Insurance, 2 Horizon Court, Audax Close, Clifton Moor, York, YO30 4RB. Are you eligible for cover? You are eligible to take out this cover if on the policy start date: You are aged 18 or over and are under the age of 64; and You have been working and residing in the United Kingdom continuously for the last 6 months; and You are seeking to protect a proportion of your normal monthly income. You are not eligible for cover if: You are in casual, seasonal or temporary work; or You are working less than 16 hours per week; or You are currently unable to attend work due to an accident or sickness (this does not apply if you are on maternity leave, paternity leave, adoption leave or parental leave). You are aware of any impending Disability, Hospitalisation, Unemployment or need to become a Full-time Carer. For full details of the eligibility criteria for this cover please see section 1 of the policy booklet. How long does cover last? Your cover is reviewed on an annual basis. 30 days before the policy has been in force for a year and annually thereafter, we will write to you advising you of the premium for the next 12 months and any changes to your cover. Will my premium change each year? The premiums for future years will depend upon the forecasts of costs to us of settling claims and changes in taxation and inflation. We will not seek to recover, in future years, the cost of any claims already paid out. Changes to your premium will not depend on your individual circumstances but on the cost of overall claims. The premium includes Insurance Premium Tax (IPT) at the
current rate. If we are required by law to increase the level of IPT or to make any other changes, we will increase your premium from the date any such charges are implemented. What cover is provided? The monthly benefit payable will be the amount you have selected as shown on your policy schedule, up to a maximum of 2,500 or 65% of your normal gross income whichever is the lesser. Significant Features and Benefits Accident and Sickness If your doctor certifies that you have been unable to work for longer than the waiting period due to an accident or sickness we will pay you one months benefit on the first day that you remain unable to work, following the waiting period. After this we will continue to pay you the benefit you are entitled to, calculated on a daily basis and paid monthly in arrears. Accidental Death If you are involved in an accident which results in your death we will pay your estate 10,000. Hospitalisation If you are an in-patient in hospital for 24 consecutive hours we will pay you 25. After this we will continue to pay you 25 per 24 consecutive hours in hospital up to a maximum benefit of 500. Fracture If you break a bone in your body (other than a finger, toe or your nose) we will pay you a single benefit of 1,500. Unemployment and full-time Carer If you have not been working after the initial exclusion period, for longer than the waiting period due to unemployment, or due to becoming a full-time carer for a partner or close relative we will pay you one months benefit on the first day that you remain continuously unemployed or remain a full-time carer following the waiting period. After this we will continue to pay you the benefit you are entitled to, calculated on a daily basis and paid monthly in arrears. Aged 65-70 This cover can remain in force up to your 70 th birthday provided that you continue to meet all other eligibility requirements of the policy. However after your 65 th birthday only half of the benefit selected will be paid to you in the event of a claim.
Self Employment / Shareholder / Contract Employment - Unemployment Cover If you are self employed, on a fixed term contract or you or a relative or member of your household has shares of 20% or more in the business, cover is only provided for unemployment in certain circumstances. Please read section 4.2 Unemployment and Full-time Carer Claims in the Policy Booklet carefully. If you are unsure about how the cover applies to your individual circumstances or decide the unemployment cover is not suitable for your needs, please contact the administrator. Are there any exclusions in the cover? Main Exclusions Accident, Sickness and Hospitalisation No benefit will be payable if you are unable to work due to: Deliberate injury; or Alcohol, solvent abuse or drugs; or Any condition where you sought medical treatment within the previous 12 months; or Stress, anxiety or depression unless a consultant psychiatrist certifies this condition prevents you from working; or Back conditions unless there is radiological evidence of medical abnormality, visible wound or contusion or a hospital consultant certifies that this condition prevents you from working; or Pregnancy, childbirth or abortion other than a medical complication; or Medical operations or treatments which are not medically necessary including cosmetic beauty treatments. The full list of exclusions for Accident, Sickness and Hospitalisation are shown in the Policy Booklet under section 4.1.1 Accident, Sickness and Hospitalisation Exclusions. Unemployment and Full-time Carer Cover No benefit will be payable to you if: You have not been working for the 6 months prior to the policy start date; You have been notified or are aware of the possibility of unemployment or the need to become a full-time carer at the policy start date; You are notified or are aware of Unemployment or the need to become a full-time carer within the first 120 days of the start of the policy; You are employed in casual, seasonal or temporary work, or work less than 16 hours per week; Your unemployment is due to voluntary redundancy, resignation or retirement;
You are working outside the UK for 90 days or more (unless in the armed forces or a civil servant in a British Embassy or Consulate); You are made unemployed form a business where you can control the affairs of the business because you or a relative or member of your household individually or jointly holds shared of 20% or more; You refuse any offer of reasonable alternative employment by your employer. The full list of exclusions for Unemployment are shown in the Policy Booklet under section 4.2.1 Unemployment Exclusions. General exclusions which apply to all sections under the policy are shown in the Policy Booklet under Section 6 General Exclusions. What is the duration of the policy? This policy is being arranged on a monthly basis with an annual review date. It is in force whilst the premium is being paid. When does the cover end? Cover ends when: You die; or You retire from work or reach the age of 70, whichever is the earlier; or You stop residing or working in the United Kingdom; You default on your premium payment; or You do not renewal the policy; or You no longer have an income (unless you are in a claim); or You or we cancel this policy. Please see Section 2 What the words mean in the Policy Booklet for a full definition of Termination Date. Can you cancel the cover? You can cancel your cover under this policy by writing to the administrator, Cavere Insurance and quoting your policy number within 30 days from when you receive your policy documents or enter into this contract, whichever is later. This is known as a cooling-off period. If you cancel your policy during this period of time, provided you have not made a claim, we will refund any premium you have paid. If you cancel your cover after the cooling off period no refund of premium will be made. Please see Section 7 of your policy booklet for the full cancellation procedure.
Can we cancel the cover? We may cancel your policy by giving you 90 days notice prior to your policy review date. This will not depend on your individual circumstances but due to it being impossible, unpractical or unreasonable to continue. This will not affect any rights to monthly benefit which you may have already received under this policy before the termination date of your cover. Reviewing your cover Please remember that it is your responsibility to regularly review your level of cover and to advise the administrator of any changes in your personal situation. How to make a claim If you wish to make a claim please telephone the claims administrator, Trent- Services (Administration) Limited on 01285 626020. If you claim you must keep the policy running and continue to pay your premiums as they fall due. If you do not then your policy will end. Please see Section 11 How to Claim in the Policy Booklet for further details. How to make a complaint We aim to provide a first-class service, to that end the following timescales apply to any complaints we may receive from you: 1. We will send you an initial acknowledgement within 5 business days of receiving a complaint. 2. We will send you a letter within four weeks of receiving a complaint; advising when the investigation into the complaint will be completed. 3. Within eight weeks of receiving a complaint we will send you a letter with our final response or a letter explaining why there is a delay and giving you the option to refer your complaint to the Ombudsman. If you have any cause to complain, or you feel that we have not kept our promise, please follow the procedures below: 1. For complaints relating to the selling of this insurance please contact the sales agent from which this insurance was purchased. 2. For complaints relating to the administration of this insurance please contact the administrator, Cavere Limited at 2 Horizon Court, Clifton Moor, York,YO30 4RB. Telephone: 01904 476096 Email: policies@cavere.co.uk 3. For complaints relating to the claims handling of this insurance please contact the claims administrator, Trent Services (Administration) Ltd, Trent House, Love Lane, Cirencester, Gloucestershire, GL7 1XD. Tel: (0)1285 626020 Email: admin@trent-services.co.uk
We trust you will be satisfied with the outcome of the investigation and our final decision response, but if not, you have the right to refer your complaint to the Financial Ombudsman Service at Exchange Tower, London, E14 9SR. Tel: 0800 0234567 complaint.info@financial-ombudsman.org.uk http://financial-ombudsman.org.uk/contact/ You have the right to refer your complaint to the FOS, free of charge, but you must do so within six months of the date of our final response letter. If you do not refer your complaint in time, the Ombudsman will not have our permission to consider your complaint and so will only be able to do so in very limited circumstances. For example, if the Ombudsman believes that the delay was as a result of exceptional circumstances. The Financial Ombudsman Service cannot consider your complaint if it is: a) less than eight weeks after receipt of the complaint by the sales agent, administrator, claims administrator or us, or; b) more than six months after the date on which the sales agent, administrator, claims administrator or us provided our final response advising that you may refer your complaint to the Financial Ombudsman Service, or; c) more than six years after the event complained of or more than three years from the date on which you became aware that you had cause for complaint unless you have already referred the complaint to the sales agent, administrator, claims administrator or us. Qudos Insurance A/S is authorised and regulated by Finanstilsynet (The Danish FSA). As an insurance company authorised within the European Union Qudos Insurance A/S is permitted to conduct business in the United Kingdom and authorised by the FCA under reference 571608. You can check this by visiting the FCA website at http://www.fca.gov.uk/register/
Cavere Limited is authorised and regulated by the Financial Conduct Authority and acts as an insurance intermediary in relation to the SureProtect insurance policy. Cavere Limited Registered Number: 06741789 FCA Number: 517325 Telephone Number: 01904 476096 Email: policies@cavere.co.uk Website: www.cavereinsurance.co.uk Office Address Unit 2, Horizon Court, Audax Close Clifton Moor, York, YO30 4RB The SureProtect insurance policy is underwritten by Qudos Insurance A/S. Qudos Insurance A/S is authorised by the Financial Conduct Authority. Qudos Insurance A/S FCA Number: 571608 Email: info@qudosinsurance.dk Office Address Købmagergade 22, 1 st Floor, DK-1150, Copenhagen K, Denmark EUI-418-0318