Mortgage/Income protection insurance

Have a look on

If you do, do the sums carefully, especially taking into account; a) How many months you have to be redundant for b) How long the policy will pay out for c) How long you would likely be out of work for

For example, if you have to be out for 3 months and it only pays out for the first year (both very common) that is 9 payments maximum you'll get. And if you get a job after 6 months, you'll only get 3 payments. Not all have these features of course but I know when I looked at it the breakeven point was only about 2 years for most policies. And probably 6 months at least of that is guaranteed, since if you took out a policy and got made redundant inside that timescale, chances are you wouldnt be eligible.

The best I have seen is 30 day back to day one cover and costs around 4( actually 3.95) per 100 per month of cover. This covers sickness, accident and unemployment.

Happy hunting

Peter

"Peter Bottomley" wrote

Does it cover "unemployment" of someone previously self-employed?

It's a FAQ; search the uk.finance archive -

I use Liverpool Victoria (ex. Permanent Insurance) because they were recommended by Which? magazines , but I think Goodfellows offers a good policy.

Daytona

Thanks Dayt.

Goodfellows and not Goodfellas hopefully! I might be scared to claim otherwise.

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