Frequently Asked Questions

Important Note:

It is your responsibility to ensure that Best Insurance Protection is suitable to meet your needs. Accordingly, it is very important that you carefully read and understand both these frequently asked questions and the Policy Wording, to enable you to make an informed decision before you make an application

1. What is the purpose of accident, sickness and unemployment protection insurance?

Best Insurance Protection enables you to better manage your monthly expenses by providing you with an income through an unemployment protection insurance policy. In the event that you are made involuntarily unemployed or cannot work due to an accident or illness you would receive a monthly benefit paid out under the terms of this insurance. This income can then be used to deal with your financial obligations such as your mortgage, rent, or secured loan repayments.

2. What is the difference between Best Insurance's Income and Commitment Protection Insurance and Best Insurance's Income protection Insurance?

Best Insurance offers two products to meet the varying demand of its customers. If you have a mortgage, loan or rent, then Income and Commitment Protection Insurance offers you a benefit amount which will be 1.5 times your monthly outgoings against these three. If you do not have mortgage, loan or rent, or if your benefit amount is more than 1.5 times of these three, then you will have to choose our Income Protection Insurance. Best Income Protection Insurance is a stand alone income protection with no linkages to any of your monthly commitments.

3. What is the purpose of payment protection insurance?

Payment protection insurance helps you to cover your financial obligations such as mortgages, rents or secured loan payments. While our web based product covers you for the essentials such as mortgage, rents or secured loan re-payments, if you want to cover your other regular monthly payments such as electricity bills, council tax bills etc, please call us on 0330 330 9465 or chat with us. We have access to a wide range of products that can be recommended to you based on your specific requirements. If you want to find out the benefit amount you should cover yourself for, please download our payment protection calculator.

4. What is the purpose of Income protection insurance?

Income protection insurance helps you cover your income and gives you the freedom to meet your financial obligations. The benefit you can buy depends on your salary. Best Insurance provides you a maximum benefit of upto 50% of your gross monthly income. If you need a benefit amount of more than 50%, please contact us and we can find income protection cover that matches your specific requirements.

5. What is the difference between payment protection insurance and income protection insurance?

Payment protection insurance is based on specific payments you may have on a month on month basis. These are normally limited to mortgage, rent on a secured loan. If you do not have a mortgage, rent or secured loan, you cannot buy payment protection insurance. Income protection protects your income and you need not have any specific payments that you need to make. As the risk on income protection is higher, pure income protection insurance can cost more than payment protection insurance. Best Insurance by virtue of the panel of our insurers, can provide you both – payment protection and income protection. Please call us on 0330 330 9465 or chat with us if you would like to know more about this.

6. Does unemployment or redundancy insurance cover me only if I have a mortgage?

Best Insurance unemployment protection is designed to provide you with regular commitments protection should you find yourself involuntarily unemployed. You do not need to have a mortgage or other obligations for which you have to make a regular payment in order to be eligible for unemployment cover. However if you have regular payments and your benefit amount meets the criteria of our redundancy protection insurance products, your monthly costs will be lower than pure income protection products. The Best Insurance online system is built on intelligent logic and will guide you though to the right product based on your answers. All unemployment protection policies will be subject to certain eligibility criteria please refer to the Policy Wording for more information.

Please Note: Should you make a successful claim with Best Insurance and choose to have the money from your unemployment insurance pay your mortgage or loan repayments, money will be paid directly to your mortgage or loan provider. As a result of this you will be seen as receiving a monthly income through your unemployment cover and this may affect your eligibility to receive “means tested” benefits from the Government such as Income Support.

7. Do I need a mortgage, secured loan or rent to be insured under this insurance?

This depends on the product you select. If you buy our payment protection range of products, then you need a mortgage, rent or secured loan to buy the insurance. If you are opting for income protection insurance, then there is no such requirement. Our quote system will guide you through the process. Depending on the answers you provide, we will offer the right product for you.

8. How much benefit amount can I insure myself for?

Best Insurance has a range of products that you can choose from and hence this depends on the type of product. As a rule of thumb, the benefit amount is generally less than 50% of your gross monthly income and should not be more than £ 2,000. If you choose to buy the payment protection insurance, then the benefit amount should not be 50% more than your monthly payments to mortgages, rent or secured loan monthly re-payment amounts. If you need a benefit amount that is more than what is available on the quote engine, please call us, based on your requirements, we may be able to offer other specific products to you.

9. Is it possible to take out joint cover?

Joint cover is not offered by Best Insurance for unemployment insurance and each policy for redundancy protection is specific only to the individual policy holder

10. Where can I find the important definitions?

As with all income protection, payment protection and redundancy protection insurance policies, Best insurance makes use of certain words and phrases which have important meanings as assigned to them in the policy wordings. More details about these words and their definitions can be found under the d efinitions section of the policy wordings. Some of the commonly used terms are also explained in our Jargon Buster section.

11. What kinds of cover can I receive as part of Best insurance range of policies?

Best Insurance Protection offers the following cover options:

  • Accident, sickness and unemployment cover
  • Accident and sickness only cover
  • Unemployment only cover that covers your payments
  • Unemployment only cover that covers your income

Depending on your requirement, the insurer may vary. The key facts documents and policy wordings for the each type of product is made available for you to download in the quote system

12. Who underwrites Best insurance?

Best Insurance is under written by a range of insurers depending on the product. Based on your answers to the various qualifying questions of our quote system, the product from our range that suits your requirements will be offered.

13. Who administers Best insurance?

This depends on the insurer that underwrites your policy. Details of the administers can be found in your policy wordings.

14. Where can I locate the policy wordings for the products I wish to apply for?

The policy wordings can be found in a few areas of the website – under the policy wordings section, in the declaration page of the quote system. Best Insurance uses a range of insurance providers to ensure that we offer you the right product. In case you need any assistance or want any specific policy wordings to be sent to you, please contact us or chat with us. Our contact details can be found in the contacts section.

15. Can I transfer cover from my current insurer?

You can transfer cover from your existing insurer. You have to make sure that the type of insurance i.e. income protection, payment protection, accident, sickness, unemployment cover, redundancy cover – the covers are of similar type. If you have any questions, please contact us before you buy.

16. How do I use to pay for my insurance policy?

We accept payments by monthly direct debits for your Best Insurance income protection, payment protection, unemployment insurance and all other policies. For further details about payment of your unemployment insurance, payment protection and income protection policies, information can be found on the payment page of the quote system. For more information about the redundancy protection or any other insurance offered by Best Insurance, please refer to the policy wording.

17. How long do I need to wait after being unemployed to receive my monthly unemployment insurance benefits?

This depends on the excess option you have selected. If you have selected the back to day 1 cover, you will start to receive benefits from your Best Insurance unemployment protection policy 30 consecutive days after becoming involuntarily unemployed. If you have selected an excess of 30 days, your claim will start to accrue after 30 consecutive days and you will start to receive your benefits after 60 consecutive days after being involuntarily unemployed. You can find more details about the schedule for receiving payments from Best Insurance Protection under the section Cover & Benefits” of the Policy Wording.

How much of my monthly income can I insure with this type of insurance policy? Best Insurance will allow you to cover up to 50% of your gross monthly income, or £2,000 whichever is the least amount. More details about the amount of income that can be insured with redundancy protection can be found in the Policy Wording.

18. How much of my monthly income can I insure with this type of insurance policy?

Best Insurance will allow you to cover up to 50% of your gross monthly income, or £2,000 whichever is the least amount. More details about the amount of income that can be insured with redundancy protection can be found in the Policy Wording.

19. How long am I covered for under this insurance?

You will receive monthly benefits from your Best Insurance payment protection insurance policy for up to 12 months. You can read more information about the length of cover available in the Policy Wording.

20. How long does this insurance last?

Best Insurance depending on the selection of your product will provide either month by month rolling contract or an annual policy which will be renewed on a twelve monthly basis. Termination of the cover will occur should you retire, reach the age of 65 or the statutory retirement age which ever is earlier or will terminate should you decide to cancel your policy for payment protection insurance. Further details can be found about the end date of your policy under the termination section of the Policy Wordings.

21. What are the eligibility requirements to receive benefits under this insurance?

There are certain requirements you will need to meet in order to receive benefits from your Best Insurance redundancy protection policy. You must be confident that the following criteria apply to you when applying:

  • You are a UK resident.
  • In full-time active work (be they full-time permanent employees, self-employed or on renewable contracts) and working for more than 16 hours per week
  • Regularly pay and are responsible for any commitments covered (applicable for accident, sickness and unemployment and payment protection policies) 
  • Not off work due to ill health at the point of application and inception of cover. Please note the pre-existing medical conditions exclusion in the Key facts Documents and policy wordings.
  • Over 18 and under 60 at inception. All cover and claims payments cease on attaining age 65 or statutory retirement age
  • Unaware of any impending unemployment or potential failure of the self-employed person’s business
  • Able to sign the declaration without any reservation or qualification.

Self-employed individuals and those on renewable contracts have the same benefits as employees, but have separate qualifying criteria.

22. How do I make a claim?

If you are in a situation where in you have to make a claim, please contact the claims department as mentioned in your policy wordings. The contact details can be found in your policy wordings and our policy administrators will be help you through the claims process. You should notify us immediately after you have been made redundant, become a carer or have an accident or hospitalisation or any change in circumstance that will lead to a claim. Every policy clearly stipulates the maximum time period within which you have to contact the claims department and furnish the details of your claim.

23. When am I unable to claim for accident and sickness benefits?

As with all unemployment insurance policies that cover accident and sickness there are certain exclusions which would mean you would not be able to make a successful claim. More details about when you can and cannot make a claim under an accident and sickness unemployment insurance policy can be found in the policy wordings.

24. When can I begin a claim for unemployment insurance or my redundancy cover benefits?

If your cover is back to day 1, then after 30 consecutive days of being unable to work through unemployment you are eligible to begin your claim for benefits through your unemployment cover. If you have opted for an excess, then you will have to wait for the excess days period to complete. After the excess days opted by you, your claim will begin to accrue. You will start getting benefits 30 consecutive days after the start of your claim accrual. Regardless of the excess days, you will have to make your claim within the stipulated number of days of your becoming unemployed. More details about when you can make your claim for unemployment benefits can be found in the Policy Wording.

25. When am I unable to claim for unemployment insurance or redundancy insurance benefits?

As with all unemployment protection policies that cover the eventuality of unemployment, there are certain exclusions which would prevent you from making a successful claim as part of your unemployment cover. For more details about the circumstances which would stop you claiming unemployment benefit please refer to the policy wordings.

26. What should I do if my circumstances change after I am insured?

It is your responsibility to ensure that this policy continues to meet your requirements and correctly covers your commitment. We suggest that should your circumstances change you refer to your policy to ensure continued eligibility. This would include, for
example:

  • Changing your employment e.g., your work becomes temporary.
  • You voluntarily reduce your hours of work to less than 16 hours per week.
  • You leave the UK to live abroad.
  • You retire from work and do not intend to actively seek further work.
  • In case of payment protection insurance, your monthly outgoings change
  • In case of income protection insurance, your monthly income changes

If in doubt, please contact us and we will be delighted to assist you.

27. When can I claim for hospitalisation or carer benefit?

If you are hospitalised or leave your job voluntarily to become a carer, you can seek benefits under this policy. For exact details on this and information on proof you may have to furnish to make a claim, please read the “how to make a claim” section in your policy wordings.

28. How do I change my monthly benefit?

Please contact Best Insurance by email if you want to change your monthly benefit. Our advisors will call you back if required to ensure that you are taking our the appropriate insurance. Please allow 15-20 working days for making any changes to your policy.

29. How can I cancel my income protection, payment protection, commitments protection insurance or accident, sickness and unemployment insurance?

Provided you have not claimed and you forward to us a written request within 15 days of us issuing this policy, we will cancel your cover and return any premium(s) paid by you. Thereafter, you can cancel this cover at any time by forwarding us a written request to cancel. No refund of premium will apply in these circumstances. For more details about cancellation please refer to the cancellation section in the Policy Wording.

30. What is the complaints process?

Should the unlikely event occur where you wish to make a complaint about Best Insurance or about the service that you have received in relation to taking our unemployment cover, the policy administrator will endeavour to take measures to correct this for you. For more details about submitting a complaint please refer to the complaintssection of the policy wording.

Final Words:

It is your responsibility to ensure that Best Insurance Protection is suitable for your needs. It is therefore very important that you read all policy documentation carefully, to enable you to make an informed decision about its suitability to meet your needs.

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