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Am I eligible?
What about joint cover?
What if I am self-employed?
What if I am on a fixed term contract?
What are the benefits?



Am I eligible?
Yes, if you are:
• aged 18 or over and less than 60 (55 for 10 year cover)
• in permanent work for 16 hours or more per week
• in continuous employment for last 6 months
• the first or second named borrower on the Credit Agreement
• resident in the UK with outstanding Paragon balances of no more than £150,000.

What about joint cover?
• Joint cover is available for both you and the second named borrower, provided that you are both eligible and accept responsibility for payment of the appropriate premium. Only one person will be able to claim at a time.
• If you have an agreement in joint names and you only require single cover, only the first named borrower on the agreement will be insured.

What if I am self-employed?
Our Payment Protection policy is available to self-employed as well as employed applicants. Unemployment benefit will be paid if you have involuntarily ceased trading because you could not find enough work to cover your reasonable business and living expenses and have declared this to HM Revenue & Customs.

What if I am on a fixed term contract?
You are eligible to claim if you have been working for the same employer on a fixed term contract of at least 12 months duration and;
• your contract has been renewed at least once or
• you were originally employed as a permanent employee by the same employer

What are the benefits?
• Once you have been off work for 30 days due to accident, sickness, unemployment or have left work to become a carer for a member of your immediate family your repayments will be made for each day you remain off work. The repayments will continue whilst you're still off work for a maximum of 12 months.
• If you should die the total outstanding debt under your loan (excluding arrears) will be repaid.

There are some exclusions under the policy as you might expect but these have been kept to a minimum. Full details of these and the cover, including information on how to claim, will be provided with your loan application.

The policy is underwritten by Norwich Union the largest provider of general insurance in the UK.