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Who can apply for
cover through Coverdirect.net?
How much cover do I
need?
How can I pay?
What about charges?
Who will arrange my cover?
Why use Coverdirect.net?
Once a premium is quoted will it change?
Does it make a difference to cost if I
smoke?
How do I request a quotation?
Can this insurance
cover an interest-only mortgage?
Will payouts be
taxed?
Can I choose who
will receive the money if I die during the period of protection?
Do I get any money
back if I don't die or fall seriously ill before the end of my plan?
What happens if I
stop making payments?
Do you give
discounts for joint life cover?
If I want to apply
online, will my personal details be secure?
What happens if I
change my mind? |
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Who can apply for
cover through Coverdirect.net? |
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Anyone aged between 18 and 65 who lives in the UK.
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How much cover do I
need? |
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The
amount of cover that you need will depend on the type of cover that you
are applying for and the reason for your application. As a rule of
thumb the following represent good examples:
Life
cover for your mortgage = the sum of the debt that you have
Life
cover for providing for the family = 10 times the main earner's income
Critical
illness cover = 2 times your income
Permanent Health Cover = 50% of your
income
Family Income Benefit = sufficient to
replace main earners income until children have left home
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How can I pay? |
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By direct debit. |
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What about charges? |
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The costs for insurance include an allowance
to cover our costs in setting up and running your plan. The insurer chosen
will pay us a discounted commission because you have approached us
directly. The discount provided will be used to reduce the premium that
you are paying. |
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Who will arrange my cover? |
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Cover will be quoted and
arranged by the staff at Coverdirect.net using the application form
provided by the chosen insurer for your cover. |
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Why use Coverdirect.net? |
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Coverdirect.net have
access to the latest technology and the best rates in the current market.
By using Coverdirect.net you will be obtaining the most competitive
insurance on the
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Once a premium is quoted will it change? |
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Does it make a difference to cost if I
smoke? |
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How do I request a quotation? |
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Can insurance
cover an interest-only mortgage? |
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Yes, but life insurance provides you with life
insurance only (and serious illness cover if you’ve chosen to include
this). It will only pay out if you make a valid claim. You should always
have another means of repaying your interest-only mortgage, for example an
ISA or another investment product. |
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Will payouts be
taxed? |
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Under current rules no tax will be deducted from any
payment made as a result of claims from serious illness cover.
Depending on individual circumstances, some life insurance claims may be
subject to inheritance tax. You can normally avoid this by putting your
plan under trust. We can help you do this by sending you a trust form
whilst
your insurance is being set up. |
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Can I choose who
will receive the money if I die during the period of protection? |
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Yes. You can include it in your will or put your plan under trust.
Putting your plan under trust can help speed up the process of paying
the money to your beneficiaries and based on current tax rules, they
won't need to pay inheritance tax. (The current amount you can inherit
before paying tax is only £255,000.) We can help you set this up by
sending you a trust application whilst your insurance is being set up. |
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Do I get any money back if I don't die or fall seriously ill before the
end of my plan? |
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No. The plan provides life insurance only and there is no
cash-in value at any time. It has no savings content. |
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What happens if I
stop making payments? |
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If you cancel your direct debit payments your cover will
stop. You won't be insured and no money will be returned to you. |
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Do you give
discounts for joint life cover? |
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If you apply
for joint life cover the premiums will be cheaper than if you apply for
separate cover. Please remember that any payout will only be made on one
death and not both. |
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If I want to apply
online, will my personal details be secure? |
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As security is so important when using the internet to
purchase products, we've incorporated protection to give
you peace of mind when you apply for any insurance products. Here are
details of some of the security measures we have in place:
Firewalls - We use special pieces of equipment called
Firewalls which are a combination of specialised hardware and software.
They are used to strictly control access between our networks and the
Internet.
These Firewalls monitor all traffic passing both into and out of
our network and block potentially dangerous connections from would-be
intruders, hackers and other unauthorised users.
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What happens if I
change my mind? |
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Not a problem. Once your insurance is set up, the insurer chosen will send
you a 'Notice of the right to cancel'. You'll have the right to cancel
your plan up to 14 days from the date you receive this notice. |
