HomeOwner Income Protection is administered by MMS and underwritten by certain underwriters
at Lloyd’s.
Please note that the overview of the HomeOwner Income Protection product range provided on
this page and across the website is of the most recent HomeOwner policy wording (MH06) which
was introduced on 1st December 2019. If you bought your policy before 1st December 2019 then you should
contact either the adviser who sold you your policy or MMS if you require further information.
HomeOwner Income Protection is a Short Term Income Protection insurance policy that protects
your ability to pay your monthly bills in the event of Accident, Sickness or Involuntary
Unemployment (ASU). HomeOwner Income Protection enables you to protect up to 60% of your gross
income or £1,500 provided that you are responsible for a mortgage or named as owner of your
primary residence.
HomeOwner Income Protection has been developed to be customer focused, easy to understand and
fully flexible and portable. Just like your car or household insurance, you own your policy and
can make changes to it at any time depending on your changing needs. We do, however, still
recommend that you take professional advice to make sure that HomeOwner Income Protection is the
right policy for you.
Cover features and benefits
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Choice of Accident and Sickness cover and Unemployment cover
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A monthly benefit of up to £1,500 per month or 60% of your gross income
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12 months benefit period
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3 excess options of day 1 cover, 30 day excess and 60 day excess
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No job or industry sector exclusions
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Benefit payments are payable directly to you
There are other providers of Short Term Income Protection and other products designed to protect
you against loss of income. For impartial information about insurance, please visit the website
at www.moneyadviceservice.org.uk
What is not covered / excluded
Like all insurance policies there are limitations and exclusions that may apply and prevent
you from making a claim. Details of these exclusions can be found in the
Policy Wording, or
a summary can be found in the
IPID.
Some examples of these exclusions include:
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Claims relating to self-inflicted injuries, alcohol or drug abuse
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Mental and nervous disorders, such as stress, unless diagnosed by and under the continuing
supervision of a Consultant Psychiatrist
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Pre-existing medical conditions. Any condition, injury, illness, disease, sickness or related condition
and/or associated symptoms, whether specifically diagnosed or not, for which medical evidence shows you knew about
or were experiencing symptoms that you would have been aware of in the 12 months prior to the start date of the
insurance or cover increase date (whichever is the later), then that particular condition, or any claim attributable
to it is excluded until you have been clear of it for a continuous 24 months period following the start date or cover
increase date. Please read the
Policy Wording for further details
-
Back related conditions, unless there is radiological evidence of a medical abnormality or a
Consultant certifies that the condition solely prevents you from working
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Claims arising due to elective or cosmetic surgery and / or treatments
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Any unemployment that you knew about at the start date of cover or within the initial exclusion period
of 150 days. The initial exclusion period will be reduced to 90 days if the you have completed a new
mortgage or re-mortgage within the 6 months immediately prior to the start date of cover.
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If you are dismissed due to misconduct, which may include fraud or anything that led to or might
have led to a disciplinary procedure being taken by your employer
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If your unemployment is temporary or voluntary, for example, if you resign or accept voluntary
redundancy
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If you do not register with the Jobcentre and are not continually available and actively looking
for work