Payment protection for borrowing

You can arrange Loanguard payment protection if you:

• Are between 18 and 64
• Work for the business on a permanent basis - for at least 16 hours per week in the UK, Channel Islands or Isle of Man

We can't provide cover if you are currently absent from work because of injury or sickness.

The cost of this insurance will be detailed in your credit agreement. The premium will be added to the amount you have borrowed and it's cost is payable by monthly instalments over the duration of the loan.

If you're arranging or amending an overdraft, you can cover up to the full amount of the overdraft facility. Overdraft premiums start at £2.38 per £1,000 of overdraft and covers accident, illness and life.

Simply make an appointment with your Business Relationship Manager.

Business Loanguard under £25,000 for sole traders and partnerships is underwritten by UK Insurance Limited and Royal Scottish Assurance plc.

Business Loanguard for Overdrafts is underwritten by UK Insurance Limited and Direct Line Life Insurance Company Limited.

The nominated person must be absent from work for at least 30 consecutive days because they are injured or sick. The insurers will pay an amount equal to 1/30th of the selected monthly benefit for each day of disability - starting with the first day of disability.

If the nominated person is absent from work, because they are injured or sick, for at least 14 days a monthly payment shall be made on the 15th day.

If a nominated person dies during the term of the loan or overdraft, Business Loanguard could repay the loan or overdraft up to the level of the cover you have chosen. This repayment will not include arrears.

If you are a sole trader or partnership you can insure the first named customer on the loan for accident, sickness and life cover. The insurance premium will be added to your monthly loan repayment.

If your loan is over £25,000 or your business is a limited company when you arrange your loan, Business Loanguard provides accident, sickness and life cover for the owners, partners, directors and key employees of your business.

• Any medical condition the nominated person knew about, or should reasonably have been aware of at the start of the insurance
• Backache and related conditions unless there is radiological medical evidence of abnormality (This exclusion does not apply to Business Loanguard for loans under £25,000).
• Psychiatric illness, mental or nervous disorder (including stress and stress related conditions) unless investigated and diagnosed by a specialist consultant. (This exclusion does not apply to Business Loanguard for loans under £25,000).
• Any medical condition for which the nominated person had received advice, treatment or counselling from any doctor in the 12 months immediately before the start of insurance
• Normal pregnancy or childbirth unless there are medical complications
• Alcohol or drug abuse

Business Loanguard is underwritten by UK Insurance Limited and Royal Scottish Assurance plc. Both are members of the Royal Bank of Scotland Group. UK Insurance Limited, Registered Office and Head Office, The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No 1179980. Royal Scottish Assurance plc, Registered Office and Head Office, 42 St.Andrew Square, Edinbugh EH2 2YE. Registered in Scotland No.119820. Both companies are authorised and regulated by the Financial Services Authority.

Businss Loanguard for Overdrafts is underwritten by UK Insurance Limited and Direct Line Life Insurance Company Limited. Both are members of the Royal Bank of Scotland Group. UK Insurance Limited. Registered Office and Head Office The Wharf, Neville Street, Leeds LS1 4AZ. Registered in England No 1179980. Direct Line Life Insurance Company Limited: Registered Office and Head Office 3 Edridge Road, Croydon, Surrey CR9 1AG. Registered No 2199286. Both companies are authorised and regulated by the Financial Services Authority.

Details about our Regulator

The Financial Services Authority website which includes a register of all regulated firms can be visited at www.fsa.gov.uk/register, or the Financial Services Authority can be contacted on 0845 606 1234. UK Insurance Limited is entered in the FSA's register under number 202810, Direct Line Life Insurance Company Limited is entered under number 170956.

Under the Financial Services and Markets Act 2000, should the company be unable to meet all its liabilities to policyholders, compensation may be available. Insurance contracts are covered for 100% of the first £2000 and 90% of the remainder of the claim, without any upper limit. Information can be obtained on request, or by visiting the Financial Services Compensation Scheme website at fscs.org.uk.

Customer Care

Our promise to you is that we will always be fair and reasonable whenever you need the protection of this policy and that we will act quickly to provide that protection. If you ever feel that we have not kept our promise, please call us or alternatively, write to the Customer Liaison Unit, UK Insurance Limited, The Wharf, Neville Street, Leeds, LS1 4AZ.

Our staff will attempt to resolve your complaint immediately. If this is not possible, we promise to acknowledge your complaint within 5 business days of receipt. We will then endeavour to resolve your complaint as quickly as possible. If we are unable to do so within 4 weeks, we will write and let you know the reasons why and the further action we will take.

If we cannot resolve the differences between us, we will issue a final response letter.

If you are still dissatisfied, you may refer your complaint to The Financial Ombudsman Service, South Quay Plaza, 183 Marsh Wall, London E14 9SR, or telephone 0845 080 1800.

Your legal rights are not affected by following this procedure. Please note that the Financial Ombudsman Service will normally only consider a complaint once we have issued a final decision.

A copy of our complaints procedure leaflet is available upon request.

Choice of Law

There is a choice of law applicable to this insurance, but unless we agree otherwise English Law will apply.

Data Protection and Fraud Prevention

To meet the requirements of current data protection law, we have provided you with the information below. It tells you about the systems that we have in place to help us prevent and detect fraud. The savings we make by using these systems help us to keep down the cost of our premiums.

What we do with your information

Please take a few minutes to read this notice as it contains important information relating to the details that you have given us. You should also show this document to anyone else who is covered under your policy.

Your information will be held by UK Insurance Limited, a part of The Royal Bank of Scotland Group.

Managing your insurance policy

We will use the information that you have given us to manage your insurance policy, including underwriting and claims handling. This may include disclosing it to other insurers, regulatory authorities or to our agents who provide services on our behalf.

Who we will speak to about your policy

At the request of many of our customers and to make managing your insurance more convenient, it is our policy to deal with your spouse or partner who calls us on your behalf, provided they are named on this policy. If you would like someone else to be able to deal with your policy for you on a regular basis please let us know. In some exceptional circumstances we may also deal with other people who call us on your behalf. If at any time you would prefer us to deal only with you, please call us to let us know.

Sensitive information

In order to provide you with insurance we will need to process sensitive information (such as information about health) about you and others named on the insurance policy. Please get consent from the other people named on your policy before sharing their sensitive information with us.

Fraud prevention and detection

In order to prevent and detect fraud we may at any time:

• share information about you across the Royal Bank of Scotland Group and with other insurers;
• pass your details to Insurance Hunter, a central insurance application and claims checking system, whereby it may be checked against information held by Insurance Hunter and shared with other insurers;
• check your details with fraud prevention agencies and, if you give us false or inaccurate information and we suspect fraud, we will record this with the fraud prevention agency. We and other organisations may also use and search these records to:
  • help make decisions about credit and credit related services for you and members of your household;
  • help make decisions on motor, household, credit, life and other insurance proposals and claims for you and members of your household;
  • trace debtors, recover debt, prevent fraud and to manage your insurance policies;
  • check your identity to prevent money laundering, unless you furnish us with other satisfactory proof of identity;
  • undertake credit searches and additional fraud searches.

Information on products and services

We may use your details to send you information about other products and services provided or recommended by companies in The Royal Bank of Scotland Group or to carry out research. We may contact you by letter, e-mail or telephone. If you would prefer not to receive marketing information or participate in research, simply tell us when you call next.

Please be reassured that we won't make your personal details available to any companies outside The Royal Bank of Scotland Group to use for their own marketing purposes.

You are entitled on payment of a fee to receive a copy of the information we hold about you. This will be information that you have given us during your policy. We do not hold any information relating to your credit status. If you would like a copy of your information, please contact the Data Protection Officer, 3 Edridge Road, Croydon, CR9 1AG.