For customers Key features of the Personal Protection policy

Transcription

1 For customers Key features of the Persoal Protectio policy The Fiacial Coduct Authority is a fiacial services regulator. It requires us, Aego, to give you this importat iformatio to help you to decide whether our Persoal Protectio policy is right for you. You should read this documet carefully so that you uderstad what you re buyig, ad the keep it safe for future referece.

2 Here you ca fid out the mai poits about our Persoal Protectio policy. You ll also get a persoal illustratio, so you ca put figures to the beefits you ve chose. Please take some time to go through both these documets to make sure you uderstad what the product is ad how it works. Keep these safe with your other Persoal Protectio policy documets you may wat to look at them agai. This guide refers to our product terms as at July Throughout this documet we ve highlighted various techical protectio terms i blue. To help you uderstad these terms, we ve explaied them i a Dictioary of protectio terms, which you ca fid at the ed of this documet. Other documets you should read Persoal Protectio policy coditios This provides details of the terms ad coditios that apply to your Persoal Protectio policy. You ca get a copy of this from our website or from your fiacial adviser. Defiitios guide This guide gives you a explaatio of the defiitios we ll use ad the evidece we ll eed to assess ay claim you make. It will also give you full details of the stadard exclusios that may apply to your policy. You ca get a copy of this from our website or from your fiacial adviser. Cotets 03 Its aims 03 Your commitmet 03 Risks 04 Questios ad aswers 04 What s Persoal Protectio? 05 What are the mai beefits? 06 What s icluded i the critical illess cover? 07 How flexible is Persoal Protectio? 07 What other beefits ca I choose? 09 What beefits are automatically icluded? 10 Ca I chage a joit-life policy if my circumstaces chage i the future? 10 Whe does the policy pay out? 10 How do I make a claim? 10 What will stop the policy from payig out? 11 What do I have to pay? 12 Where ca I fid out about the charges? 12 What if I stop payig? 13 Ca I chage my mid? 13 What if Aego ca t pay out the beefit amout for ay reaso? 13 How do I complai? 14 Other iformatio 14 About Aego 14 What about tax? 14 Commuicatio 14 Law 14 Time limits 14 Terms ad coditios 14 Cliet categorisatio 14 Your adviser 15 How to cotact us 15 Dictioary of protectio terms

3 Its aims To help protect you ad your family from the fiacial cosequeces of serious ill health or death durig the beefit term. This guide provides details of all the beefits uder our Persoal Protectio meu. The protectio cover you have will deped o the beefits you choose your beefits will be detailed i your persoal policy schedule. Your commitmet You agree to pay regular premiums throughout the term of the policy. If you do t, your cover will stop. You ca fid details of the types of premium available i the What do I have to pay? sectio. You agree to give us all the iformatio we ask for whe applyig for your policy. If you do t do this, we wo t pay your claim. You must tell us i writig if there s ay chage i your circumstaces (for example reaso for cover, health, lifestyle, occupatio or employmet status ad/or recreatioal activities) betwee the date you aswer the applicatio questios ad the start date of your policy. If there s ay chage i your circumstaces at all, you should tell us. You agree to let us kow of ay claim you eed to make ad to give us all the iformatio we ask for, withi the relevat time limits. You ca fid more iformatio o all the available beefits ad ay relevat time limits i the sectios What s Persoal Protectio?, What other beefits ca I choose? ad How do I make a claim?. Risks If you stop payig premiums, your protectio will stop immediately. The policy oly provides protectio ad has o cash-i value at ay time. We might ot pay out a claim uder certai circumstaces. These circumstaces are kow as exclusios. You ca fid more details o our stadard exclusios i the sectio What will stop the policy from payig out? ad i our Defiitios guide. If the iformatio we receive whe you take out your policy is icomplete, icorrect or utrue, we may ot pay your claim. This could be iformatio you give us or iformatio a adviser gives us o your behalf. If you choose reducig beefits, your beefit amout will reduce each moth over the beefit term i the same way that a repaymet mortgage would reduce if it was repayable over the beefit term at a yearly mortgage iterest rate of 10%. So, if the iterest rates o your loa are cosistetly above 10%, the amout we ll be able to pay whe you make a claim may ot be eough to pay off your outstadig repaymet mortgage. If you have beefits with reviewable premiums the your premium may go up or dow at each review but ay icrease i your premiums will be fair ad reasoable. You ca fid out more about how reviews work i the What do I have to pay? sectio ad i your policy coditios. 03

4 Risks If you choose icome protectio ad your taxable eared icome goes dow or does t go up as quickly as your beefit amout, whe you make a claim we might ot pay the full beefit amout. We wo t refud ay of your premiums if this happes. You ad a fiacial adviser should regularly review your taxable eared icome agaist the beefit amout to check your cover cotiues to meet your eeds ad that you re ot payig for cover you ca t claim. If you choose icome protectio, the amout we pay out if you claim may affect your etitlemet to some meas tested state beefits. The amout we pay you uder the icome protectio beefit may affect your claim to beefits uder other icome protectio policies. The tax treatmet of icome protectio beefits may chage. Questios ad aswers What s Persoal Protectio? It s a policy that ca help protect you ad your family fiacially if the isured perso: dies meets our termial illess defiitio (see the What beefits are automatically icluded? sectio for more details) meets oe of the listed critical illess defiitios (full details ca be foud i our Defiitios guide) becomes totally permaetly disabled is uable to work due to accidet or sickess, leadig to a loss of taxable eared icome Which of the above are covered by your policy will deped o the beefits you choose. If you do t assig the policy to a leder or place the policy i trust, the beefits will be paid directly to you or your estate ad ca be used as you see fit. For example, you may choose to use the beefits to pay off your mortgage. You ca set up your policy to cover oe or two people, kow as the isured perso(s). Most of the mai beefits ca be take out o a sigle-life basis, which meas they cover oe perso, or o a joit-life first death/evet basis, which meas two people are covered but the beefit amout is oly paid out oce. O joit-life policies that pay out o death, we ll oly pay the death beefit oce. Because of this, you have to set up your policy so that the death beefit is payable: whe either of the isured persos dies (kow as joit-life first death). The beefit amout will be paid out oce ad the beefit the stops whe, after the death of oe of the isured persos, the other the dies (kow as joit-life secod death) o the death of a selected isured perso who has a life protectio beefit (or life with critical illess protectio beefit) o a sigle-life basis withi a joit-life policy If you re lookig to protect your mortgage paymets, you ca use Persoal Protectio with either a iterest-oly mortgage or a capital ad iterest mortgage (a repaymet mortgage). The amout paid out o a claim is desiged to cover the outstadig mortgage, depedig o the type of mortgage you have ad the type ad level of beefits you choose. All beefits are available with guarateed premiums. However, some beefits are available with both guarateed ad reviewable premiums. You ca fid more iformatio o premium types i the What do I have to pay? sectio. Now let s look at the mai beefits available from Persoal Protectio i more detail. 04

5 Questios ad aswers What are the mai beefits? Life protectio/reducig life protectio Life protectio pays out a cash lump sum if the isured perso dies or is diagosed with a termial illess, that meets our defiitio, durig the beefit term. However, we wo t pay out for a termial illess diagosed i the last year of the beefit term. You ca fid the defiitio of termial illess i the What beefits are automatically icluded?, Termial illess sectio. Critical illess protectio/reducig critical illess protectio Critical illess protectio pays out a lump sum if the isured perso is diagosed with a critical illess that meets oe of our critical illess defiitios ad the survives for at least 14 days. We oly cover the critical illesses we defie i our policy coditios ad o others. Life with critical illess protectio/reducig life with critical illess protectio Life with critical illess protectio pays out a lump sum if the isured perso either dies or is diagosed with a critical illess that meets oe of our critical illess defiitios. We oly cover the critical illesses we defie i our policy coditios ad o others. Reducig beefits For reducig life protectio, reducig critical illess protectio ad reducig life with critical illess protectio, the amout that we d pay out o a claim reduces each moth over the term i the same way that a repaymet mortgage would reduce if it was repayable over the term at a yearly mortgage iterest rate of 10%. It will ever pay out more tha the origial beefit amout. Family icome beefit Family icome beefit pays out a mothly icome util the ed of the beefit term if the isured perso either dies or is diagosed with a termial illess, that meets our defiitio, durig the beefit term. However, we wo t pay out for a termial illess diagosed i the last year of the beefit term. You ca fid the defiitio of termial illess i the What beefits are automatically icluded?, Termial illess sectio. Critical illess family icome beefit Critical illess family icome beefit pays out a mothly icome util the ed of the beefit term if the isured perso is diagosed with a critical illess that meets oe of our critical illess defiitios ad the survives for at least 14 days. We oly cover the critical illesses we defie i our policy coditios ad o others. Life with critical illess family icome beefit Life with critical illess family icome beefit pays out a mothly icome util the ed of the beefit term if the isured perso dies or is diagosed with a critical illess that meets oe of our critical illess defiitios. We oly cover the critical illesses we defie i our policy coditios ad o others. Gift iter vivos Gift iter vivos pays out a lump sum if the isured perso dies durig the beefit term. This is a special form of life protectio where the amout we d pay out o a claim reduces over the seve-year term. This is desiged to help cover a possible iheritace tax liability durig the seve years followig a gift beig made. Cover is available o a sigle-life basis oly. Icome protectio We ll pay you a regular beefit amout if, due to accidet or sickess, you become uable to work ad so lose taxable eared icome or et profit. Whe choosig the beefit amout you eed, you should remember that the maximum amout we ca allow is the lower of 55% of your total taxable eared icome ad 150,000 a year. We kow your taxable eared icome ca vary over the term of your policy. That s why we offer a icome promise to help protect you agaist ay geuie drop i your taxable eared icome. You ca fid more details i our Icome protectio the facts guide which is available o our website, or speak to your fiacial adviser. 05

6 Questios ad aswers What s icluded i the critical illess cover? As a member of the Associatio of British Isurers (ABI), we ve adopted the ABI Statemet of Best Practice for critical illess cover, which sets out model defiitios for critical illesses ad exclusios, as well as stadard wordig. We cover 43 coditios where we ll pay out the full beefit amout if you meet the defiitio these are our mai critical illess coditios. Sevetee of these provide more cover tha is required by the ABI Statemet of Best Practice. Our mai critical illess defiitios are: Alzheimer s disease resultig i permaet symptoms Aorta graft surgery for disease or traumatic ijury Aplastic aaemia with permaet boe marrow failure Bacterial meigitis resultig i permaet symptoms Beig brai tumour resultig i permaet symptoms or surgically removed via craiotomy Beig spial cord tumour resultig i permaet symptoms Blidess, icludig sigificat visual impairmet permaet ad irreversible Cacer excludig less advaced cases Cardiac arrest resultig i surgically implated defibrillator Cardiomyopathy of specified severity Coma with associated permaet symptoms Coroary artery bypass grafts Creutzfeldt-Jakob disease (CJD) resultig i permaet symptoms Deafess permaet ad irreversible Demetia resultig i permaet symptoms Ecephalitis resultig i permaet symptoms Heart attack Heart valve replacemet or repair HIV ifectio caught i oe of the home coutries or desigated coutries, from a blood trasfusio or a physical assault or at work Itesive care requirig medical vetilatio for 10 cosecutive days Kidey failure requirig permaet dialysis Liver failure advaced stage Loss of had or foot permaet physical severace Loss of speech total, permaet ad irreversible Major orga trasplat from aother door Motor euroe disease resultig i permaet symptoms Multiple sclerosis with persistig symptoms Multiple system atrophy resultig i permaet symptoms Ope heart surgery with surgery to divide the breastboe Paralysis of a limb total ad irreversible Parkiso s disease resultig i permaet symptoms Primary pulmoary hypertesio of specified severity Progressive suprauclear palsy resultig i permaet symptoms Pulmoary artery graft surgery for disease oly Removal of a eyeball due to ijury or disease Respiratory failure of advaced stage Rheumatoid arthritis resultig i a loss of the ability to do specified physical activities Stroke resultig i permaet symptoms Systemic lupus erythematosus with severe complicatios Termial illess where death is expected withi 12 moths Third-degree burs coverig 20% of the body s surface area, or 50% loss of surface area of the face, or 30% loss of surface area of the head ad eck 06

7 Questios ad aswers Total peumoectomy for physical ijury or disease Traumatic brai ijury resultig i permaet symptoms We also cover 11 additioal critical illess coditios that are automatically icluded at o extra cost, where, if you meet the defiitio, we ll pay either: a percetage of the mai critical illess beefit amout, or a fixed moetary amout Our additioal critical illess coditios are: Carcioma i situ of the breast requirig surgery to remove the tumour the lower of 25% of the beefit amout or 25,000 Cerebral aeurysm requirig specified surgical procedures the lower of 25% of the beefit amout or 25,000 Cerebral arterioveous malformatio requirig specified surgical procedures the lower of 25% of the beefit amout or 25,000 Childre s critical illess protectio the lower of 50% of the beefit amout or 25,000 Childre s death beefit 5,000 Critical fracture cover of specified boes 1,500 Croh s disease with specified severity the lower of 12.5% of the beefit amout or 12,500 Early stage prostate cacer with specified severity the lower of 25% of the beefit amout or 25,000 Hospitalisatio due to a accidetal ijury for 28 or more cosecutive days 5,000 Partial loss of sight permaet ad irreversible the lower of 12.5% of the beefit amout or 12,500 Ulcerative colitis treated with total colectomy the lower of 12.5% of the beefit amout or 12,500 Ay valid claims made uder the additioal critical illess coditios wo t affect the beefit amout or premiums for ay critical illess beefit uder your policy. We ll oly pay a claim for a additioal critical illess coditio oce for each isured perso that s suffered the coditio. If we pay a claim for oe of our mai critical illess coditios, your policy will stop ad we wo t provide cover for ay additioal critical illess coditios. You ca fid a complete list of the coditios we cover icludig more details of how we ll cosider your claim, the full defiitios we ll use ad the evidece we ll eed, i our Defiitios guide, which is available o our website. How flexible is Persoal Protectio? We ve desiged our Persoal Protectio to allow you to chage your cover if ad whe your persoal eeds chage. We recommed that you regularly review your cover ad update it, if ecessary, to make sure it cotiues to meet your eeds. There are a umber of chages that ca be made at ay time. Ad we may be able to make some of these without you havig to provide us with more medical ad fiacial evidece, for example if the isured perso gets married ad/or if they icrease their mortgage due to buyig aother house or improvig their curret home durig the policy term. Other chages may eed us to carry out a fresh assessmet of the isured perso s health, occupatio ad pastimes. If you make ay chages to your policy, your premiums will chage. What other beefits ca I choose? As well as the mai beefits, you ca also choose from the followig beefits: Pre-completio beefits Free cover Free cover is available if you have life protectio, reducig life protectio, life with critical illess protectio or reducig life with critical illess protectio ad you re takig out cover to protect your mortgage ad the isured perso has bee 07

8 Questios ad aswers accepted o our stadard premiums ad policy terms. It provides you with protectio cover while you re waitig for your property purchase to complete. The maximum amout of free cover available will be the lowest of: the beefit amout applied for the mortgage amout 500,000 If free cover is offered o a life protectio beefit, we ca also offer free cover o critical illess protectio, reducig critical illess protectio ad/or total permaet disability protectio. The amout of free cover o these beefits ca t exceed the amout of free cover o the life protectio beefit. This meas that free cover wo t be offered if there s oly critical illess protectio or critical illess with total permaet disability o your policy. The free cover will start o the later of the date we sed you our acceptace terms or the date you exchage cotracts. It will cotiue for 90 days after the date we sed you acceptace terms or util completio of the mortgage, whichever is the earlier. It will stop if we decide we re curretly uable to offer you isurace. Speak to your fiacial adviser for more iformatio o free cover. Accidetal death beefit If you choose life protectio, reducig life protectio, life with critical illess protectio, reducig life with critical illess protectio, family icome beefit or life with critical illess family icome beefit, the we ll automatically iclude accidetal death beefit for up to 60 days. If the isured perso dies as a result of a accidet while we re assessig your applicatio, we ll pay out a lump sum. Accidetal death meas death withi 72 hours followig accidetal bodily ijury resultig solely ad idepedetly from causes ot related to or cotributed to by ay pre-existig illess, disease or physical disorder. Accidetal death excludes death as a result of suicide. The followig coditios apply to accidetal death beefit: It will start from the date we receive a fully completed applicatio ad Direct Debit istructio. The isured perso must be uder the age of 55 (ay accidetal death beefit cover will stop o their 55th birthday). It will be limited to the lower of 250,000 or the beefit amout. It will last for up to 60 days or util we decide we ca t curretly offer you isurace or 21 days after the issue of acceptace terms, whichever is earliest. We wo t pay ay claims where the accidetal death is caused by self-iflicted ijury, hazardous pursuits, alcohol or drug abuse, war ad civil commotio, flyig (other tha as a passeger i a commercially licesed aircraft) or ay pre-existig coditios. It s ot available if you ve applied for similar cover elsewhere. If you ve opted for free cover, ay accidetal death beefit will automatically stop whe the free cover starts. For more details o this, icludig a full list of the circumstaces i which we wo t pay a claim, please speak to a fiacial adviser. Additioal beefits Waiver of premium Waiver of premium is a optioal beefit uless you ve chose icome protectio cover, where it s automatically icluded. This beefit will pay your premiums after the deferred period while the isured perso is uable to work due to sickess or accidet. This beefit will cotiue to pay your premiums for as log as the isured perso cotiues to meet the defiitio of icapacity 08

9 Questios ad aswers show o your policy schedule, but will stop o the earliest of: the isured perso returig to work, either full-time or part-time the policy edig whe aother beefit is paid the ed of the beefit term the isured perso o loger satisfyig the defiitio of icapacity as show o the policy schedule the death of the isured perso For more iformatio about waiver of premium, please speak to a fiacial adviser. Reewal optio If you choose life protectio, reviewable premium critical illess protectio or reviewable premium life with critical illess protectio, the istead of settig up your beefit o a fixed-term basis, you ca choose to reew your beefit every five years. At the ed of each five-year term, you ca reew the beefit without havig to provide ay more iformatio about the state of the isured perso s health. Your premium will be based o our premium rates ad the isured perso s age at the time you reew your beefit ad therefore may go up. This optio is oly available if the isured perso has t bee charged a extra premium or had additioal exclusios added to the policy for medical reasos. Idexatio optio You ca select this optio to help protect your beefit amout agaist the effects of iflatio. The beefit will icrease each year i lie with the icrease i the Retail Prices Idex (RPI). The premiums will icrease each year at 1.5 times the icrease i the RPI. The icrease i the RPI will be limited to a maximum icrease of 10% ad a miimum icrease of 0%. Idexatio is t available with reducig cover. Legislatio optio If you choose gift iter vivos, you ca select this optio. It allows you to icrease the beefit amout ad/or icrease the beefit term if a chage i iheritace tax legislatio icreases your potetial tax liability. You wo t eed to provide ay more iformatio about the state of the isured perso s health with this optio. Total permaet disability beefit You ca choose to add this beefit to ay of the critical illess beefits. We ll pay you this beefit if the isured perso, because of total permaet disability, meets the defiitio of icapacity as show o your policy schedule. The defiitios of icapacity are explaied i full, i our Defiitios guide. What beefits are automatically icluded? We automatically iclude the followig beefits at o extra cost. Termial illess Termial illess beefit is icluded i all mai beefits except gift iter vivos ad icome protectio. We ll pay out o this if the isured perso is diagosed by the attedig Cosultat with a illess that satisfies both of the followig: the illess either has o kow cure or has progressed to the poit where it ca t be cured, ad i the opiio of their attedig Cosultat, the illess is expected to lead to the death of the isured perso withi 12 moths For life oly beefits our Chief Medical Officer will also eed to agree that the illess is expected to lead to the death of the isured perso withi 12 moths. The opiio must be supported by relevat medical evidece. For life protectio, reducig life protectio ad family icome beefit the beefit must have at least oe year left to ru from the time the claims criteria are met. Guarateed isurability optios Oce your cover has started, if you eed to icrease your beefit amout because your circumstaces have chaged, you may be able to do so without havig to provide ay more iformatio about the state of 09

10 Questios ad aswers the isured perso s health. These optios are oly available if the isured perso is accepted o stadard premiums ad policy terms. For more iformatio o guarateed isurability optios, please speak to a fiacial adviser or visit our website. Ca I chage a joit-life policy if my circumstaces chage i the future? Before your 71st birthday you might be able to split your joit-life first death policy ito two sigle-life policies without givig us more medical iformatio. If this optio is t available due to your medical history ad persoal circumstaces, we ll tell you before your policy starts, ad it will show o your policy schedule. You ll fid full details of our joit-life separatio optio i sectio 5.3 of our Persoal Protectio policy coditios. Whe does the policy pay out? Your persoal schedule will show you which beefits you ve chose, the beefit amouts, the premium for each beefit ad if there are ay exclusios that will stop your policy payig out. How do I make a claim? If you eed to make a claim, please get i touch with us either i writig or by phoe. If you re makig a claim, you must let us kow as soo as possible. For icome protectio ad waiver of premium claims, you must let us kow withi the timescales set out below: Deferred period Notificatio period 4 or 8 weeks by week 2 13 weeks by week 4 26 weeks by week 6 52 weeks by week 12 payig premiums if the isured perso starts workig agai eve if the work is o a part-time basis or they re performig differet duties. To allow us to assess all claims, we ll get writte medical evidece. For icome protectio claims we ll also eed to get fiacial evidece. For critical illess, additioal critical illesses, termial illess ad total permaet disability, we eed to get writte evidece from a medical specialist appropriate to the cause of your claim which meets the satisfactio of our Chief Medical Officer. At the time of claim, the isured perso does t eed to be residet i oe of the home coutries or oe of the desigated coutries but, the medical specialist providig reports must hold a appoitmet as a Cosultat or equivalet at a hospital i oe of the home coutries or oe of the desigated coutries. This also applies to the critical illess claims o life with critical illess beefits. You ll oly remai covered for icome protectio ad waiver of premium while you re a permaet residet of the home coutries. If you travel or live temporarily outside the home coutries for more tha 13 cotiuous weeks, i ay 12-moth period the cover for icome protectio will be excluded. If you travel or live temporarily i ay oe or more of the desigated coutries the the 13-week period metioed above will be exteded to 26 weeks durig ay 12-moth period. What will stop the policy from payig out? If you do t give all the relevat facts, the protectio provided by the policy could be lost or cacelled ad your claim rejected. You should carry o payig premiums util we accept your claim. You do t eed to pay them while we re payig you beefit uder your icome protectio cover. However, you ll eed to start 10

11 Questios ad aswers I certai circumstaces we wo t pay out a claim. These are kow as exclusios. If there are ay additioal reasos why we wo t pay a claim o your policy, we ll tell you about them before your cover starts. They ll also be icluded i your policy schedule. For life protectio, reducig life protectio, family icome beefit, gift iter vivos, life with critical illess, reducig life with critical illess ad life with critical illess family icome beefit, our suicide exclusio will apply. This meas we wo t pay a claim i the evet that the isured perso has died as a result of their ow actios (whether or ot at the time of such actio they were sae or isae) withi 12 moths of the policy start date or, if later, the date o which a particular beefit starts, or a policy is reistated, or the beefit amout for a particular beefit is icreased. This exclusio oly applies to the life elemet of the beefits listed above. What do I have to pay? You ca fid details of your premiums i your persoal illustratio. All premiums are paid by Direct Debit ad are due throughout the term of the policy. We take various thigs ito accout whe calculatig your premium. These iclude whether cover is for oe isured perso or two, the age of the isured perso, whether they smoke, their medical history, their occupatio, ay hazardous pursuits they re ivolved i, which beefits you ve chose, how much cover you ve selected ad for how log. Premium types All beefits are available with guarateed premiums. However, the followig are available with either reviewable or guarateed premiums: critical illess protectio, reducig critical illess protectio, life with critical illess protectio, reducig life with critical illess protectio ad icome protectio. Guarateed premiums Guarateed premiums mea that the amout you pay whe you take out the beefit stays the same throughout the beefit term uless you chage your beefit. If you choose the idexatio optio, the premium will chage as a result of the yearly Retail Prices Idex (RPI) icreases. See the Additioal beefits sectio for more iformatio o the idexatio optio. Reviewable premiums If you choose beefits with reviewable premiums the the amout of your premium may chage at review. This is because we had to predict what we expected various factors to be over the whole term of your reviewable beefit whe we calculated the premium rates to charge. Reviews will take place every five years o the aiversary of the relevat beefit start date. The first review will be o the fifth aiversary of the relevat beefit start date. The reasos your premiums may chage at a review are: medical advaces which affect our view o the expected umber ad timig of future claims evets outside our cotrol which may affect the expected umber ad timig of future claims, for example a global epidemic ew data, either from our ow experiece or from exteral sources, which idicates the level of historic claims has chaged from the last time such data was published ad therefore affects our view of the expected umber of future claims chages to the tax regime which may favour oe type of policy over aother this will affect the umber of beefits we expect to stop before the ed of their beefit term ew data, either from our ow experiece or from exteral sources, which idicates the level of beefits stoppig before the ed of the beefit term has chaged from the last time such data was available ad therefore affects our view of the expected umber of beefits stoppig before the ed of the beefit term i the future 11

12 Questios ad aswers chages i iflatio from the levels assumed whe we calculated your premiums this affects the cost of lookig after your policy chages i the tax regime for isurers chages i the way the govermet wats us to calculate the amout of moey we have to set aside to make sure we ca meet claims as they fall due If there s bee ay chage i the value of these factors sice your policy started or sice it was last reviewed the we ll use a fair ad reasoable method to calculate whether there should be a chage i your premium. The method is described i the Persoal Protectio policy coditios booklet. There s o limit o the amout we may icrease your premium by. We ll write ad tell you the result of your premium review two moths before we make ay chage. If we chage the timig of these letters we ll let you kow. If your letter tells you your premium will go up at the beefit aiversary, the you may: pay the icreased amout ad cotiue with the same beefit amout ask us to reduce your beefit amout so you ca keep the premium at its curret amout ask us to cacel your beefit If you cacel all the mai beefits o your policy the your policy will stop with o cash-i value ad you ll o loger be covered by your policy. If you re usure whether reviewable premiums are suitable for you, you should speak to a fiacial adviser. Waiver of premium The premiums you pay for waiver of premium will chage if the premiums for ay of the other chose protectio beefits chage. Total permaet disability beefit The premiums you pay for total permaet disability beefit will be o the same premium basis as the mai beefit premium. Where ca I fid out about the charges? Whe calculatig the premium we take ito accout how much it costs to set up ad look after the policy, alog with the cost of providig the protectio beefits. These costs are icluded withi the premiums you pay. You ca fid details of your premiums i your persoal illustratio. What if I stop payig? If you stop payig premiums, your policy will stop ad you ll o loger be covered for ay of the beefits you ve chose. You wo t get ay of your premiums back. If you stop payig premiums but the wat to restart your policy, write to us ad we ll let you kow if this is possible. We may: make a charge for restartig your policy ask for proof that the isured perso is i good health ask for proof that the isured perso s occupatio ad leisure activities are, i our opiio, ot more likely to cause sickess or a accidet tha before icrease your premiums You ca stop payig premiums at ay time by cacellig your Direct Debit ad writig to us at the address show i the How to cotact us sectio. 12

13 Questios ad aswers Ca I chage my mid? Yes. After your policy has started, we ll sed you a otice of your right to cacel. You ll the have 30 days from the date you receive the otice to chage your mid ad get a refud of all premiums paid. You ca cacel your policy by writig to: Protectio Customer Service Cetre Aego Ediburgh Park Ediburgh EH12 9SE If you do t cacel your policy, it will cotiue. What if Aego ca t pay out the beefit amout for ay reaso? I the evet that we were t able to pay your claim, you d have access to the Fiacial Services Compesatio Scheme (FSCS). The amout of cover depeds o the type of busiess ad the circumstaces of the claim. Isurace busiess of this type is geerally covered for 100% of the value of the whole claim, without limit. How do I complai? We hope you ever have to complai, but if you do, please cotact us first to see if we ca help. If you re ot satisfied with our respose, you ca the raise the issue with: The Fiacial Ombudsma Service Exchage Tower Lodo E14 9SR or fiacial-ombudsma.org.uk complait.ifo@fiacial-ombudsma.org.uk Complaiig to the Ombudsma wo t affect your right to take legal actio later o. You ca get more iformatio about compesatio arragemets from the FSCS by callig or visitig fscs.org.uk 13

14 Other iformatio About Aego We ve bee helpig people take resposibility for their fiacial future sice 1831 whe Scottish Equitable was fouded. Today we re part of Aego N.V., a iteratioal provider of life isurace, pesios ad asset maagemet, with busiesses i over 20 coutries aroud the world. We provide retiremet, workplace savigs ad protectio solutios to over two millio customers i the UK, helpig them create the tomorrow they wat. Aego is a brad ame of Scottish Equitable plc. Scottish Equitable plc is o the Fiacial Services Register (umber ). What about tax? Uder curret tax rules, you wo t have to pay icome tax or capital gais tax o ay of the beefits we pay you. But tax rules ca chage, so for more iformatio about the tax treatmet of your policy, icludig the impact o your iheritace tax positio, please speak to a fiacial adviser. This tax iformatio is based o our uderstadig of curret legislatio, taxatio law ad practice, which may chage. All details are correct at the time of publicatio (July 2015). Commuicatio Our cotract with you is i Eglish ad all future commuicatio about it will be i Eglish. If you d like a large prit, Braille or audio CD versio, please call Time limits We ll let you kow of ay time limits that may apply that are t covered i your key features or illustratio, for example ay time limits o uderwritig decisios or requiremets. You must let us kow if there are ay chages i your circumstaces betwee the date you give us your details ad the date your policy starts. Terms ad coditios This key features documet oly gives you a summary of the mai poits of the policy. You ca fid full details i the policy coditios booklet. You should read the policy coditios carefully, as it will set out the terms ad coditios of the cotract betwee you ad Scottish Equitable plc. If you have more questios, or eed ay more iformatio, a fiacial adviser will be able to help you. Cliet categorisatio We categorise all of our cliets as Retail cliets uder the Fiacial Coduct Authority rules for all services ad trasactios. This helps us to make sure that you receive appropriate disclosure documets from us ad that you re made aware of everythig you eed to kow i a timely fashio. Your adviser To help your adviser give you a improved service, we may provide them with marketig ad promotioal support, techical services ad traiig, semiars, travel ad accommodatio expeses. We may also provide them with gifts ad hospitality. Your adviser ca give you details of ay beefits they receive from us. Law The policyholder must be residet i the UK whe the applicatio is made, ad so the cotract will be set up ad govered by the law i the part of the UK that they live i at that time. The applicable law ca oly be chaged if both the policyholder ad we agree to the chage. 14

15 How to cotact us Remember, a fiacial adviser will ormally be your first poit of cotact. We wo t be able to give you ay fiacial advice at ay stage. If you have ay questios, you ca phoe, or write to us: Moday to Friday, 8.30am to 5.30pm protect_support@aego.co.uk If you wat to make a claim, please phoe or us: Moday to Friday, 8.30am to 5.00pm claims@aego.co.uk Alteratively, please write to our Claims departmet at the address above. Aego Ediburgh Park Ediburgh EH12 9SE We may moitor calls to improve our service. Dictioary of protectio terms Throughout this documet we ve highlighted various techical protectio terms i blue. The followig explaatios should help explai what these mea. Acceptace terms The basis o which we re prepared to offer you protectio cover, for example the premium we ll charge (which may iclude additioal amouts to cover medical coditios, occupatio, travel or dagerous hobbies) ad the amout of cover we provide. The cover (terms) we offer may be differet to the cover you origially requested. Deferred period The period durig which a isured perso must be cotiuously uable to perform their isured occupatio due to illess or accidet. Desigated coutries Europea Uio (excludig the Uited Kigdom), Adorra, Australia, Gibraltar, Liechtestei, Moaco, Sa Mario, Turkey, the Vatica City State, New Zealad, Caada, Icelad, Norway, Switzerlad or the Uited States of America. Home coutries Uited Kigdom, the Chael Islads or the Isle of Ma. Irreversible Ca t be reasoably improved upo by medical treatmet ad/or surgical procedures used by the Natioal Health Service i the UK at the time of the claim. Permaet/Permaetly Expected to last throughout life, with o prospect of improvemet, irrespective of whe the cover eds or the isured perso expects to retire. Stadard premiums ad policy terms Where we accept the protectio cover requested with o chages to the cover you ve requested ad usig our stadard premium rates. 15

16 As Lead Parter of British Teis, we re helpig to trasform the future of the sport by supportig youg talet, atioal teams ad evets throughout the coutry, icludig the Aego Champioships at The Quee s Club. Fid out more at aegoteis.co.uk Aego is a brad ame of Scottish Equitable plc. Scottish Equitable plc, registered office: Ediburgh Park, Ediburgh EH12 9SE. Registered i Scotlad (No ). Authorised by the Prudetial Regulatio Authority ad regulated by the Fiacial Coduct Authority ad the Prudetial Regulatio Authority. Fiacial Services Register umber A Aego compay Aego UK plc C IP /15