Nat West's self employment T&Cs

[posh23]

My partner took out a 5 year business loan in May 2001, he was self employed at the time and still is. He has always banked with Nat West. We have found his confirmation letter which includes the Personal Loan Protector Certificate, although currently we cannot locate a copy of his loan agreement.

 

Having looked at the wording of the certificate, it is unclear to me whether he was covered, so would appreciate someone's opinion please. It seems to me that he would have been covered for accident and sickness, but probably not for unemployment unless he became bankrupt. I have searched this forum and have seen similar questions raised, but can find no answers.

 

The relevant paragraphs seem to be:

 

"Please note the conditions of cover if your change the basis of your Employment to Self-Employment, Temporary Work or a fixed-term contract.

 

Who can have this cover

 

You are eligible if you are in Employment as defined.

 

What is covered

 

If you are Self-Employed, Unemployment claims will be considered if you become bankrupt or you have involuntarily ceased trading due to financial insolvency of your business and you have notified the Inland Revenue that you have ceased trading. Temporary cessation of trading or period os unemployment due to shortage of work are not covered.

 

Definitions

 

Employment or Employed - Paid employment, including self-employment, of at least 16 hours per week

 

Self-Employed or self-employment - Working as a director, partner or employee of a company of which you are effectively the owner, or as a sole trader"