Yes. The LPP is a flexible product and may be bought in multiple units of insurance coverage, allowing you to choose the level of protection you need.

The minimum sum insured and annual premium vary from country to country. Please contact the local insurer/distribution channel for details.

Premiums for the first 12 months of coverage are due when the LPP enrollment form is submitted to the insurer/distribution channel. Payments can be made through the local insurer/distribution channel of your choice.

The LPP provides coverage for 1 year from the date of issue and will terminate after 12 months unless renewed. The insurance cover comes into effect 10 days after the receipt of the annual premium.

Within 4 days of an event, you will receive an SMS on your mobile phone to confirm the occurrence of the triggered event and the payout amount. You do not need to fill out any forms.  Within 14 days the payment will be deposited to your bank account.

The distribution channel where you purchased the LPP, e.g. a credit union, will deposit the payout amount to your account.

You will still get the payout even if you do not experience any loss, because the actual payout is only based on wind speed and rainfall amount as recorded by the independent calculation agents.

The maximum annual payout per location is 100% of the sum insured. If this is exhausted in one or two events, you are advised to renew the cover.

Some policies will pay for temporary housing if a hurricane makes your dwelling uninhabitable and the damage is caused by a covered peril. Most policies also will cover reasonable expenses for removal of debris and architects and surveyors fees. However you must request these additional benefits and there is usually an additional premium attached. Speak with your insurance company or broker regarding this cover.

You will only receive compensation for damaged furniture and other contents in your private dwelling if you have insured these and therefore they are insured by the company. Depending on the policy, coverage may pay for a new replacement item, or payments may be reduced based on the item's depreciation.