Within the Best Insurance policy documentation certain words and phrases are used which have special meanings. So that it is simpler to understand your policy we have put together a brief jargon buster which provides explanations to these key technical terms.
Commitment - The obligation(s) for which you have to make a regular payment, which you have elected to cover under this policy. This can include your mortgage or other loan secured on your home or the rent payable for your home.

Cover Increase Date - The start date or the date at which the monthly benefit increased. (Any new cover increase date will only apply to the increased monthly benefit.

Doctor - A person qualified and registered as a medical practitioner who is not you or your family and who is recognised by the General Medical Council.

End Date - The date on which the first of the events shown under the heading “Termination” occurs.

Full Time Permanent - Employed on a contract that has no restrictions or limitations as to when it may end or on an annually renewable contract under which you have been with the same employer for at least two years and the contract has been renewed at least once.

Full Time Semi Permanent - Employed on a contract basis by the same employer for more than 6 months and the contract has been renewed at least twice.

Gross Income - An amount of 50% of the average monthly remuneration you receive before deduction of all taxes. The average is taken over the six months prior to the point of time under consideration.

Initial Exclusion Period - A period of 90 days immediately following a cover increase date and only applicable to unemployment cover. (If you have transferred cover from an alternative insurer that has provided full unemployment cover for this commitment over at least the last 6 months, for which you have not made a claim in the last 6 months and you can provide proof of this prior cover then, subject to a limit of the same benefit amount, this initial exclusion period will be waived.)

Maximum Benefit Period - The period of twelve months

Monthly Benefit - The total monthly amount you have elected to insure under this policy subject to a maximum of the lesser of:

• one and a half times the amount of your commitment or
• the Maximum Total Benefit as shown in the schedule or
• your gross income (50% of your income before any deductions).

Policy - The document (DB34) which details the terms and conditions of your cover. It should be read in conjunction with your current schedule.

Schedule - The documents we send you that confirm your cover under this policy.

Start Date - The date your cover begins as shown on your schedule as “Inception Date”.

Term (The Term of Cover) - The period during which you are covered under this policy. This term commences at 00.01 hours on the start date and continues until 23.59 hours on the end date.

Us (Our) (We) - MMS acting under a Master Facility on behalf of Underwriters set out in the Preamble above.

Waiting Period A period of days at the commencement of a claim, as shown in the schedule.

Monthly benefit will not be paid during this period and no claim will be payable unless the accepted duration of a claim exceeds this period.

Work (Working) Paid work of at least 16 hours a week. This includes self-employed work and statutory maternity and parental leave but not temporary work.

You (Your) The Insured Person whose details are set out in the schedule.