Mortgage payment protection

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Neil_Ireland

Registered User
Messages
189
Hi all,

Have a concern about this cover, I'll explain my situation regarding work. Please bear with me :)

I work for a company who have a large workforce, they have announced voluntary redundancy's amounting to 300 people. If they don't get the 300 voluntarily there will be involuntary lay off's to make up the numbers.
The voluntary package is open to everyone but if the numbers are not met the company will target one section only for involuntary redundancy. I work in a different section which I have been told shouldn't be affected.

I have been reading some threads on this cover and it seems if the insurance company have any way of getting out of paying they will. An example would be if they thought I knew there were job losses coming they won't pay out.

Would it be a waste of money taking out one of these policies based on the situation with work?

Thanks,
Neil.
 
I would have thought it was a material fact and if you lose your job there would be no payout.
 
Assurants My Broker product sold through IBA brokers covers any occupation and will not pay out on a claim if you were told specifically that YOUR job was being made redundant either verbally or in writing during the 90 day exclusion period. i hope this helps.
 
daveyk111,

I can tell you're really delighted and excited about the product. Can you kindly post a link to the products T&C so we too can become as enthusiastic?
 
I understand UK banks intend to stop selling SINGLE PREMIUM PPayment Protection Insurance for unsecured loans. Any plans here for such a development
 
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