Information you need to know.

Mortgage life insurance can be an important financial safety net. It's designed to help pay off your mortgage amount in the event of your death, so that your loved ones could continue to live in the family home. You need to read the Key Features Document carefully before buying a policy. This provides details of the circumstances under which the policy would not pay out. The full terms and conditions are in your policy documents which, will be sent to you when the policy starts.

As with all mortgage life insurance policies, there are things to be aware of:

Risks

• It's essential that you give us all the information we ask for during the application and that it's accurate. If you fail to mention something like a medical condition, for example, we may not pay out in the event of a claim.
• Our mortgage life insurance is there to help pay off your mortgage, in the event of your death or diagnosis of a terminal illness.
• For mortgage decreasing term assurance, if your mortgage interest rates average over 10% during the policy term, there may not be enough cover to pay your mortgage off in full.
• Mortgage life insurance policies are not investment products. They have no cash-in value at any time. Also, if you stop paying the premiums before the end of your policy, your cover will end after 30 days and you will not get anything back.
• When you take out cover, you must tell us if any of the following change between completing your application and when your policy starts:
  • medical disclosures
  • family history
  • occupation
  • travel or residence
  • pastimes
  • alcohol consumption
  • start smoking
  • use of recreational drugs

If you don't tell us about changes to any of the above, it could mean that your policy will not pay out and we may need to cancel your policy.