Payment Protection Plan

No matter how carefully you plan, it's impossible to know what may lie around the corner. Unemployment, injury or illness can happen to anyone at any time. That's why a Payment Protection Plan can enable you to enjoy your car without having to worry about the future.

Land Rover Financial Services offers a range of schemes to suit each individual (subject to eligibility). It´s easy to arrange - simply choose the cover that meets your needs.

What is Payment Protection Plan Insurance?

Depending on the cover option you select, this policy will;

• Meet your monthly repayments if you are unable to work because of accident, sickness or unemployment or if you leave work to become a carer.
• Repay your outstanding balance if you die, or suffer a critical illness.
  
  There are different levels of cover available under this Payment Protection Plan. The cover you receive depends on the cover option you select on your Land Rover finance agreement. The table below summarises the cover options: 

• be over 18 and under 65, and not reach 70 before your finance agreement is due to end,
• live in the United Kingdom, and
• have a finance agreement

To be eligible for Executive Plus or Executive Premier cover you must:

• be over 18 and under 65, and not reach 70 before your finance agreement is due to end,
• be in paid work (please see the policy summary for fuller details of both benefits and exclusions)
• live in the United Kingdom, and
• have a finance agreement.

This website does not contain the full terms and conditions, which can be found in the policy document (ask your dealer for further information).

What are the benefits and features of Payment Protection Plan Insurance?

The following will only apply if you select Executive Plus or Executive Premium Cover:

• After you have been unable to work due to an accident or sickness for more than 14 days in a row, we will pay one monthly benefit. We will then pay a sum equal to the monthly benefit for each additional complete period of 30 days during which you are still unable to work due to accident or sickness.
•  Subject to the terms and conditions of the policy, we will continue to make these payments until your loan is repaid or until you return to work (whichever occurs first)
•  The maximum monthly benefit amount will be the lower of your monthly repayment or £1,500 per month.

The following will only apply to you if you select Executive Premium cover:

• If you are unable to work because you have become involuntarily unemployed for more than 30 days in a row, we will pay one monthly benefit equal to your monthly repayment.

• We will then pay a sum equal to monthly benefit for each additional complete period of 30 days that you are still unable to work because of involuntarily unemployment. We will continue to make these payments for up to a maximum of 12 months.

• The maximum monthly benefit amount will be the lower of your monthly repayment or £1,500 per month.

The following will apply if you select Executive, Executive Plus or Executive Premium cover:

• If you die, or suffer a critical illness during the finance agreement we will pay the outstanding balance of the agreement, at the date of your death, up to a maximum of £75,000 excluding any arrears or interest on arrears and any balloon payment.

The following will only apply to you if you select Executive Premium cover:

• If you are self-employed you will be entitled to claim for unemployment benefit if you have involuntarily ceased trading and have declared this to HM Revenue & Customs.

How long does my Payment Protection Plan Insurance run for?

The policy will continue for the term of your finance agreement and will terminate when that agreement ends, when you cancel the policy, when you reach the age of 70 for Life cover or when you reach the age of 65 or retire for Executive Plus, or Executive Premium cover.

Who is the insurer?

The insurer of this policy is Sterling Life Limited for the life cover and Sterling Insurance Company Limited provides the Critical Illness benefit, Accident / Sickness benefit and the Unemployment benefit:

Sterling Life Limited registered number 911235 whose registered office is at Ambassador House, Paradise Road, Richmond upon Thames, Surrey, TW9 1SQ

Sterling Insurance Company Limited registered number 498605 whose registered office is at Ambassador House, Paradise Road, Richmond upon Thames, Surrey, TW9 1SQ

Both Sterling Life Limited and Sterling Insurance Company Limited are authorised and regulated by the Financial Services Authority