I've just received an email from Paul Jones Insurance Services regarding my insurances required prior to going to NZ on CP57 next January. Details are as below....
Hi
I understand that you are booked on a course in the near future for the CTC Wings Training Programme.
You may have taken advantage of the HSBC Professional Studies Loan and as you are aware, the Bank requires certain insurances to be effected to protect the loan. I would like to clarify that although the HSBC Professional Studies Loan conditions require Life Assurance and Bond Insurance, these do not have to be arranged through the Bank, (indeed they do not have a facility for arranging Bond Insurance).
We have arranged a package of insurance covers, designed to protect the loan and your investment for the training course, together with medical expenses and personal property whilst travelling in New Zealand and these include:
a)Term Life Assurance in respect of the bank loan undertaken
b)A bond protecting the training investment, in the event of your loss of medical status, preventing completion of the course
c)Medical Expenses and Repatriation Insurance for the duration of your training in New Zealand
d)Insurance in respect of Personal Possessions whilst in New Zealand
Whilst this package is designed to meet your insurance requirements for the duration of the training course, should you have any other insurance requirements, we would be pleased to discuss these with you.
I can confirm the premiums required for the insurances noted above are as follows:
Term Life Assurance 2 year period £188.67
Training Bond (Loss of Medical Status) until type rating is achieved or a maximum of 24 months £367.50
New Zealand - Personal Accident, Medical Expenses and Repatriation £377.89
New Zealand - Personal Possessions and Money £3000 £110.00 (+ £30.00 to add Personal Liability)
Personal Possessions and Money £4000 £140.00 (+ £30.00 to add Personal Liability)
These premiums apply to cadets up to the age of 29 - please contact us for a quotation if you are not in this age range. Cover may be available at an additional premium for excluded activities listed on the policy summaries. Please contact me if you wish to have a quotation.
An application form and proposal forms are attached which should be completed and returned to us together with your payment which can be by cheque payable to Paul Jones Insurance Services Ltd, debit card or credit card. Please note that we will require the start date (if shown), expiry date, issue number (if relevant) and security numbers shown on the back of the card as well as the card number. There is a 1% service charge for credit cards
Please note a separate proposal form is attached for Personal Possessions cover which will also need to be completed and returned to us. Details of the model and serial number will be required for laptops/notepads and any items valued over £500.
We recommend this package of insurance as being suitable protection against the risks noted above whilst undertaking the CTC Wings Training Programme and as outlined in the enclosed Summaries of Cover. Our Terms of Business are attached for your reference.
On receipt of your instructions, the completed applications forms and payment we are able to confirm to the Bank via fax, that appropriate cover is effective to avoid any delay in the Bank implementing the drawdown facility.
Is Paul Jones Insurance Services the only ones who deal with this?? I'm going to be flying to NZ on 9th January 2008 and will be 30 years old on 30th January so not sure how this will affect my premiums with them.....
Anyone know of anyone else who deals with these types of insurance?