Income protection
Discussion
Chaps -
does anyone know of schemes that insure you to your full net salary level?
background is thus:
My wife is off on maternity in a couple of months, so due to us dropping down to one salary (well plus her package) and the current uncertainty in my industry (advertising) I'm keep to make sure we're well comvered in the event of redundancy.
Most of the schemes just seem to do mortgage payment + 25% for bills.
Are there any schemes that pay higher proportions?
Also - do these things actually pay out? not being hyper cynical but the t & c's on some policies seem to imply that they wont pay out in the event of unemployment if there is any element of probability that it may occur....
any advice /experience gladly recieved!
mods: feel free to move this to finance where no one will read it
does anyone know of schemes that insure you to your full net salary level?
background is thus:
My wife is off on maternity in a couple of months, so due to us dropping down to one salary (well plus her package) and the current uncertainty in my industry (advertising) I'm keep to make sure we're well comvered in the event of redundancy.
Most of the schemes just seem to do mortgage payment + 25% for bills.
Are there any schemes that pay higher proportions?
Also - do these things actually pay out? not being hyper cynical but the t & c's on some policies seem to imply that they wont pay out in the event of unemployment if there is any element of probability that it may occur....
any advice /experience gladly recieved!
mods: feel free to move this to finance where no one will read it
scotal said:
Are you talking income proetection, or Mortgage Patyment Protection(Also known as ASU) ?
In temr sof paying out, some of the firms are dreadful, whilst others are good providing the claim is good. In terms of knowing about redunadnciues its a case of if you have been told there might be losses at your firm, rather than "hey its a recession of course you'll get fired"
income protection & accident sickness and UE insurance - are they different products then?In temr sof paying out, some of the firms are dreadful, whilst others are good providing the claim is good. In terms of knowing about redunadnciues its a case of if you have been told there might be losses at your firm, rather than "hey its a recession of course you'll get fired"
my firm on a global basis has made cuts, as has our holding company, but our division was unscathed...
not sure now this would affect the disclosure of knowledge of impending cuts
Gio G said:
Had a letter through my insurance people... my premium goes up to £106 a month, to cover £2,000 a month, unemployment cover only... So since 2007, when I took out the policy, my premium has gone up 266%!!!
Sounds like everyone is getting the same news...
guess thats just the current price to risk...Sounds like everyone is getting the same news...
I'd ideally like £3k of cover for UE & sickness - might seem a silly question but i assume that payments are net?
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