If both you and your spouse or partner have Payment Protect on the same loan and something happens to them for which they are entitled to a repayment waiver, you will not be liable for those payments.

For example, you have Complete cover and your spouse or partner has Partial cover. If they become terminally ill or die, you will not be liable for any payments, because those payments will be covered by your partner’s Payment Protect Partial.

However, if, for example, you have complete cover and your spouse or partner has Partial cover, and your partner becomes disabled, neither you or partner are eligible for repayment waiver as their Payment Protect Partial does not cover disability.

In the case of redundancy or disability, if both of you have Payment Protect Complete and you are both unemployed due to disability or redundancy, each of you will separately receive the payment waiver during that time after you have notified Harmoney.

The repayments waived during that time will be taken into account against each of you in calculating the maximum number of repayments for which you each have cover.

For example:

You are unemployed due to redundancy from 1 March to 30 June. Your spouse is unemployed due to redundancy from 1 June to 31 July, the same year.

Each of you notifies Harmoney on the morning your respective redundancies take effect. The repayment falling due in June of that year, will be waived in favour of each of you.

You will be treated as having received the redundancy waiver for four months (March, April, May, and June), so you will have cover for one further repayment if you are made redundant again.

Your spouse will be treated as having received the redundancy waiver for two months (June and July), so he or she will have cover for a further three repayments if he or she is made redundant again.

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