Credit Protection Insurance
Credit Protection is designed to cover you against unforeseen or unplanned circumstances, which may restrict your income, therefore your ability to repay a credit agreement.
If you were unable to work due to Accident or sickness, your business was to fail or you were made redundant, then after just 30 days, Credit Protection Insurance will make your insured monthly payment up to a total of 12 payments or until you return to work.
| Credit Protection Insurance Includes |
|
Am I eligible? |
|
Accident or Injury
Sickness or Illness
Involuntary Unemployment (Redundancy)
Business Failure (self-employed)
|
|
| If you are over 18 years of age and under 65 |
Yes |
| If you reside within the United Kingdom |
Yes |
| If you are employed and working for at least 16 hours per week |
Yes |
| Your loan does not exceed £50,000 |
Yes |
| The Maximum monthly benefit is £1,000 |
Yes |
| Applies to all finance agreements |
Yes |
|
How Much does it cost?
The cost of Credit Protection Insurance is only £7.50 per £100 of your total monthly finance payment. Premiums are collected by Direct Debit on 15th of each month.
Are there any "Significant or Unusual Exclusions" I should know?
- Acts of War, riot, civil commotion and earthquake
- The taking of any alcohol or drugs unless under Doctors orders
- HIV or related illnesses including AIDS
- Any illness for which treatment or advice has been given in the 12 months prior to start date
- Self-inflicted injury
- Normal pregnancy / childbirth related conditions
- Unemployment within 90 days of the start date
- If unemployment is know about / voluntary / caused by fraud or wilful misconduct
- Expiry of a fixed term contract, unless with the same employer for 2 or more consecutive contracts totalling 2 or more years
Concept Vehicle Leasing are authorised and regulated by the Financial Services Authority. Full details of the policy terms and conditions are available upon request For Further information or to set up a policy please call 0800 043 2050.
Document downloads:
Concept Vehicle Leasing - Brochure (919KB)