Protection Insurance Specialists

What is Lifestyle Protection Insurance?

Monster's Lifestyle Protection Insurance is designed to ensure that your receive a chosen proportion of your gross monthly income each month in the event that you are off work as a result of an Accident, Sickness or involuntary Unemployment (ASU) such as redundancy.

Monster's Lifestyle Protection Insurance can be tailored exactly to your needs, providing you with choice, to ensure that your benefit commences when it is really needed. Flexible Excess Periods for the Accident/Sickness and Unemployment portions of your cover means you can separate these elements of the insurance and have the benefit start to be paid when you need it.

Why would I need Lifestyle Protection Insurance?

If you were off work through a serious accident or a period of sickness how would you maintain your monthly commitments when your sick pay entitlement came to an end? What if it was announced that you were to be made unemployed through a involuntary redundancy? Would you have enough savings to cover any loss of income?

Monster's Lifestyle Protection Insurance is designed to commence when your sick pay or redundancy pay in lieu of notice comes to an end.

What if I already have an existing payment protection policy?

If you have an existing payment protection policy such as income, mortgage or loan protection, you can easily transfer to Monster. If you choose Monster, the insurer may waive the initial exclusion period* providing you meet the following conditions and can provide a copy of your existing insurance schedule if requested:

• You are able to provide the name of your existing insurer
• You can confirm that you have had the existing policy for at least 6 months
• You are applying for the same benefit amount as on your existing policy
• You can confirm that your existing policy is still active and that it has not been cancelled
• You can confirm that you have not made a claim against your existing policy in the last 2 years.

*The definition of the initial exclusion period is 120 days commencing from your start date during which you cannot make an unemployment claim.

You may be asked to provide a copy of your previous insurance schedule at claims stage.

Why are Lifestyle Protection Insurance premiums different from Income Protection?

Mortgage Payment Protection is considered a lower risk as it is linked to an existing mortgage debt. The mortgage provider would have undertaken extensive credit checks before agreeing to make the loan. The Mortgage Protection insurer therefore has the advantage of knowing these credit checks will have been undertaken, which is frequently not the case when dealing with an application for Income Protection.

How do I pay for my Lifestyle Protection Insurance Policy?

The premiums will be collected monthly by Direct Debit. You can choose the day that we collect the premium from your account to help you manage your finances.

When will my Direct Debit be set up?

If your application is successful you will receive your policy documents and a letter confirming the Insurer's acceptance. In the meantime your direct debit instruction will be submitted to your bank to avoid delays should cover be accepted. No debits will be taken from your bank account until cover is confirmed. The direct debit instruction will be cancelled if cover is not confirmed by the Insurer.

When will my premiums start to be collected?

In your letter confirming the Insurer's acceptance, you will be advised when the 1st and subsequent premiums will be collected. Depending on your preferred collection date we may need to collect more than 1 month's premium in the first month.

How do the Flexible Excess Periods work?

Traditionally when you buy a Payment Protection policy that covers both Accident/Sickness and involuntary Unemployment you are either not given a choice as to when you would like your benefits paid from or your Accident/Sickness and Unemployment benefits must be paid from the same time.

Monster's Lifestyle Protection Insurance allows you to tailor your cover to fit your exact requirements. For example if you get two months of sick pay and one month payment in lieu in case of redundancy, then have the Accident/Sickness part of your policy start paying benefit after 60 days and have the Unemployment part of your policy start paying benefit after 30 days.

For example:

A 0 Day Excess means you have to be off work for 30 days before you can register your claim but all payments will be backdated to day 1.

A 30 Day Excess means you have to be off work for 60 days before you can register your claim but all payments will be backdated to day 30.

A 60 Day Excess means you have to be off work for 90 days before you can register your claim but all payments will be backdated to day 60.

A 90 Day Excess means that you have to be off work for 120 days before you can register a claim but all payments will be backdated to day 90.

A 180 Day Excess means that you have to be off work for 210 days before you can register a claim but all payments will be backdated to day 180.

What does Monster's Lifestyle Protection Insurance cover and how does it differ from Mortgage Payment Protection Insurance (MPPI) and Loan Payment Protection Insurance (PPI)?

Monster's Lifestyle Protection Insurance is a special type of protection policy that protects up to 65% of your gross monthly income (or a maximum of £1,500, whichever is the lesser amount) the event of an accident, sickness or involuntary unemployment such as redundancy. You can select Full Accident, Sickness or Unemployment (ASU) cover, or Accident and Sickness Only (AS Only) cover.

Mortgage Payment Protection Insurance will only cover your mortgage repayment (and in some cases additional mortgage related costs) and Loan Payment Protection insurance will only protect a loan repayment. Monster's Lifestyle Protection Insurance can be used to cover all of the insurable portion of your income or a combination of monthly outgoings. Where it is your mortgage or rent, loan, credit card payments, utility bills, food bills, phone bills, Digital TV subscriptions, the choice is yours.

How long will Monster's Lifestyle Protection Insurance pay out for in the event of a claim?

The maximum number of monthly benefit payments that a Lifestyle Protection Insurance will pay is 12 monthly payments in any one claim.

How do I qualify for Monster's Lifestyle Protection Insurance?

To qualify for Monster's Lifestyle Protection Insurance you need to be aged between 18 and 65 years of age, a UK resident and in full-time continuous permanent employment (16 hours or more per week) and have been so for the previous 6 months.

Can I purchase Monster's Lifestyle Protection Insurance if I am self-employed?

Accident and Sickness cover - You are eligible to take out Monster's Lifestyle Protection Insurance, however, please remember that you will be asked to provide medical evidence of you being unfit for work during the claim period.

Unemployment cover - You are eligible to take Monster's Lifestyle Protection Insurance but please note that in order to claim you will need to prove that your business has completely ceased to trade as a direct result of your inability to pay your debts when they become due. This will need to be registered with the Inland Revenue. You may be asked to provide copies of your accounts and/or tax returns. More information can be found in the Policy Wording.

Please Note: this insurance cover has not been designed to pay benefit for any period of unemployment which is due to a temporary loss of work or a temporary lack of work.

Can I purchase Monster's Lifestyle Protection Insurance if I am a contract worker?

You are eligible for Monster's Lifestyle Protection Insurance, however, there are a few restrictions for qualifying and claiming for unemployment benefits.

To be eligible your employment must be permanent and full time. You will be treated as being in permanent full-time employment if you are on or are:

• An annual contract which has been renewed at least once
• A contract with the same employer for an unbroken period of at least 2 years
• Employed originally on a permanent basis but had been transferred to a fixed-term contract by the employer without a break in employment

You may still be able to claim for the period between the termination date of your contract and the natural expiry date of your contract if you are unable to meet the above conditions. You will not be able to claim for becoming unemployed at the natural expiry date of your contract. More information can be found in the Policy Wording.

Can I purchase Monster's Lifestyle Protection Insurance if I am a sub-contractor?

You must be able to fully comply with the conditions of those with a self-employed status in order to make a claim for unemployment benefit. More information can be found in the Policy Wording.

What if I have more than one job?

If you have more than one job you will be eligible to claim unemployment benefit under your Monster's Lifestyle Protection Insurance policy should you lose at least one job and are able to register as actively seeking work. This means you can still claim where the hours worked in your second job are less than 16 hours per week.

What exclusions does Monster's Lifestyle Protection Insurance have?

• As with all insurance policies there are certain limitations/exclusions that apply to Liftstyle Protection Insurance. Significant limitations/exclusions are listed below and are outlined in the Keyfacts Document which can be found on this site. Please read the Policy Wording for full details of all limitations/exclusions.
• You will not be able to claim for any period of unemployment for which you were aware at the start date of this Policy.
• You will not be able to claim for any period of unemployment if received verbal or written notification of unemployment within the initial exclusion period or at the start date you knew or in our reasonable opinion you had reason to believe you were to become unemployed.

Initial Exclusion Period

The following rules will apply unless you have been accepted by the underwriter on a reduced initial exclusion period or you have been notified and we have received your agreement in writing of an extended initial exclusion period.

1. The initial exclusion period is 120 days immediately following the start date of this policy.
2. The initial exclusion period will always be shown in your Insurance Schedule.

• You will not be able to claim for any period of unemployment if your unemployment arises from any programme of job losses, any departmental or company restructure, or merger with another company, announced by your employer before the start date, or within the initial exclusion period.
• You will not be able to claim for any condition or illness that you were aware of at the start date of the policy or have received treatment for during the 12 months immediately prior to the start date of your policy. Please note, however, that this exclusion is waived if you have been symptom free for a period of no less than 24 months before the start date of any claim. Please note that this waiver does not apply to any chronic condition - the definition of a chronic condition can be found under the Meaning of Words section of the Policy Wording.
• You will not be able to claim for any backache or back related condition for which we have not received scan evidence (MRI, X-Ray, CT Scan) of abnormal findings. However, we will pay up to a maximum period of 3 months if evidence of abnormal findings have been found at an examination conducted by your Doctor. Benefits will not be payable after this 3 month period, if scan evidence of the abnormality causing the Disability is not provided.
• You will not be able to claim for any mental or nervous disorder including stress and stress related conditions unless the conditions have been diagnosed by a Community Mental Health Team overseen by a member of the Royal College of Psychiatrists, or has been investigated by a Consultant Psychiatrist.

What happens if I am aware that I may be made unemployed prior to taking out this policy or within the first few months afterwards?

You will not be able to claim for any period of unemployment for which you were aware of at the start date of this policy or which occurs within the initial exclusion period.

Initial Exclusion Period

The following rules will apply unless you have been accepted by us on a reduced initial exclusion period or you have been notified and we have received your agreement in writing of an extended initial exclusion period.

1. The initial exclusion period is 120 days immediately following the start date of this policy.
2. The initial exclusion period will always be shown in your Insurance Schedule.

What would happen if I became unemployed immediately after taking out this policy or within the first few months?

You will not be able to claim for any period of unemployment which occurs within the initial exclusion period.

Initial Exclusion Period

The following rules will apply unless you have been accepted by us on a reduced initial exclusion period or you have been notified and we have received your agreement in writing of an extended initial exclusion period.

1. The initial exclusion period is 120 days immediately following the start date of this policy.
2. The initial exclusion period will always be shown in your Insurance Schedule.

Can I claim for a medical condition that I am already aware of?

You will not be able to claim for any condition or illness that you were aware of at the start date of the policy or have received treatment for during the 12 months immediately prior to the start date of your policy. Please note, however, that this exclusion is waived if you have been symptom free for a period of no less than 24 months before the start date of any claim. Please note that this waiver does not apply to any chronic condition - the definition of a chronic condition can be found under the Meaning of Words section of the Policy Wording.

Can I claim for back related injuries/conditions?

You will not be able to claim for any backache or back related condition for which we have not received scan evidence (MRI, X-Ray, CT Scan) of abnormal findings. However, we will pay up to a maximum period of 3 months if evidence of abnormal findings have been found at an examination conducted by your Doctor. Benefits will not be payable after this 3 month period, if scan evidence of the abnormality causing the Disability is not provided.

Can I claim for mental or nervous disorders?

You will not be able to claim for any mental or nervous disorder including stress and stress related conditions unless the conditions have been diagnosed by a Community Mental Health Team overseen by a member of the Royal College of Psychiatrists, or has been investigated by a Consultant Psychiatrist.

How will my claim be paid?

A successful claim will see your Lifestyle Protection Insurance benefit payments paid directly into the bank account that we collect the Direct Debit from.

What evidence must I provide at claim stage?

Accident and Sickness - In addition to completing a claim form you will need to be signed as unfit for work by a Doctor and provide regular evidence to that effect.

Unemployment - In addition to completing a claim form you may be asked to provide proof of your income such as bank statements and/or accounts and/or tax returns together with P60's and regular evidence that you are actively seeking employment, such as:-

• A signed declaration confirming the period of your latest JSA Allowance Award and that you remain eligible for the claim. We will supply this form to you each month and have attached a copy of your future reference.
• Evidence of your efforts to search for new employment. A minimum of 3 communications (e.g letters or emails) from, or to, prospective employers. These must relate to the most recent period of your claim.
• Monthly evidence of the payment you have received from the Jobcentre Plus. This must be a copy of the bank statement, or direct evidence from your Bank, confirming details of this payment. The document supplied must also confirm your identity by showing your Name, Address or National Insurance Number.

All unrelated information/payments can be blanked out, together with the final 4 digits of the Bank Account Number showing on this document.

• When your claim at the Jobcentre Plus comes to an end, you will be asked to supply a copy of the P45 that is issued to you at that time. You will also need to supply a copy of the letter that will be issued to you by the Jobcentre Plus confirming the end of your benefit claim.

How do I know when my new policy starts?

When you submit an application for cover on-line, including completion of a direct debit mandate, this means you have applied for a policy. Each one is considered individually. Applications are underwritten and you may be asked for additional information. Therefore, we undertake not to debit any premium until we confirm in writing that your application has been accepted by the Insurer and you have been placed on cover.

At exceptionally busy times, it is possible that your application my not be considered for one or more working days, please bear with us during these times. If you have any queries, please make use of the 'contact us' facility on the Monster Insurance website. The cover on any existing policy you may have should be maintained until you have our written confirmation that your new policy is in force.

How do I cancel my Lifestyle Protection Insurance?

You can cancel your Lifestyle Protection Insurance at any time by writing to us. If you cancel within the first 30 days of the start date or the date you receive your policy documents you will receive a full refund of any premiums paid. No refund of premium is paid after this period.