Making changes to your policy.

When you take out a policy with us, we understand that your circumstances may change in the future. So that your policy can adapt with your needs - we offer some flexibility options that may help.

Guaranteed insurability option

At certain key points of your life, you may need to increase the amount of cover you have.  For example, you could become a new parent or decide to move to a bigger house. These types of events usually mean that you need more protection.

The good news is we’ll allow you to increase your cover without the need for any further medical evidence, health questions or assessments – making the process as easy and hassle free as possible. This is called your guaranteed insurability option.

Things you need to know
You can exercise the option within 6 months of one of the following events occurring:

• you become a parent
• you get married or enter into a registered civil partnership
• you receive a salary increase due to a new job or promotion
• you increase your mortgage because you're moving home or undertaking major home improvements.
  

Your cover can be increased by up to 50% of the original amount on each occasion that the option is used, but this is limited to a maximum of £150,000. If the option is being used due to a mortgage increase then it’s also limited to the amount of the increase to the mortgage.

If you’re using this option because of an increase in salary, this is calculated as the percentage increase in salary multiplied by the sum assured. Subject to the maximum of £150,000.

The option can be used 3 times in total over the life of your policy, but only once in respect of marriage or civil partnership. The maximum total increase permitted is £200,000.

For your policy to include the guaranteed insurability option, you must:

• be accepted on standard terms and normal rates
• your plan must have started before your 45th birthday and the option used before your 55th birthday.
  

If you do choose to exercise this option we won’t ask any more medical questions and the rates at the time of the increase will apply.

Lifestyle Flexibility

You also have the flexibility to make changes to your policy without using the guaranteed insurability option. You can apply for a change to:

• the policy length
• your amount of cover
• switch from a joint policy into a single one
• change how often you pay your premiums (either monthly to annually, or vice versa).

These changes could affect the premiums that you pay and we would have to assess any change request based on your circumstances at the time.