You can cancel your existing cover and waive the exclusion period for your new cover from Ant Insurance or alternatively you can keep your existing cover and add further payment protection from Ant Insurance to increase your monthly benefit. There are restrictions to both options so please see below:

Already Have A Mortgage or Income Protection Policy or want to take more cover?

If you already have a Mortgage Protection or Income Payment Protection policy and are considering:

• Buying a second policy from us and keeping your current policy, or
• Cancelling your current policy to buy ours instead, or
• Buying two policies from us

Please find the conditions below:

Buying Mortgage and Income Payment Protection from Ant Insurance to maximise your monthly benefit

You can buy a Mortgage Protection and also an Income Protection from us and because we consider each to be different types of cover you can insure up to, and claim, the full amount on each ie: a combined maximum monthly benefit up to £4000 per month. However you cannot buy two Mortgage Protection policies or two Income Protection policies.

Keeping your existing policy and buying a second policy from Ant Insurance

If you have a Mortgage Protection policy with another provider you can also buy an Income Payment Protection from us and because we consider each to be different types of cover you can insure up to the full amount ie 60% of your net monthly income to a maximum of £2000 per month. You may not use your existing policy to waive the exclusion period on your new Ant Insurance policy.

Please note: Not all providers agree with this and may reduce or decline your claim on your existing cover, so please check with your other provider before you buy.

If you have Income Payment Protection with another provider and buy a second Income Payment Protection policy from Ant Insurance, they are not different types of cover and therefore the combined monthly benefit between both policies must not exceed 60% of your net monthly income to a maximum monthly benefit of £2000. In the event of a claim we will only be liable for our proportional share of your benefit limit. You may not use your existing policy to waive the exclusion period on your new Ant Insurance policy.

Cancelling your current policy to replace with Ant Insurance policy and waive the exclusion period

If you have a current Income Payment Protection policy with another provider and intend to cancel this policy to buy Ant Insurance Income Payment Protection instead, you would be eligible for a waiver of our 90 day exclusion period that is effective from the start date of your policy (this exclusion period applies to unemployment claims ONLY).

In order to be eligible for the waiver:

• You must have had your existing policy for at least 3 months
• You must not have cancelled your existing policy prior to the start date of our policy
• You must not have claimed against your existing policy within the past year

In the event of an unemployment claim within the first 90 days, your claim will be limited to the same policy terms and the amount of monthly benefit payable under your previous policy. Additionally we may contact either yourself or your previous underwriters to confirm the details below. Once the initial 90 day period has expired, your new cover amount will apply.

If you choose this option you should immediately cancel your existing cover on receipt of your Income Payment Protection Policy Schedule, emailed to you immediately after your online submission.