income protection cover?

[b16a2_VTi]

is it worth it?

im worried for my job as i work for a private company which soley services DWP contracts and rumor has it come Dec/Jan time i will be out of work. If i took out a policy will they pay out by then? Im getting quotes of £35 and they ONLY cover 50% of my wages which to be frank are not enough to live on.

Im tihnking if i claimed Job Seekers will i be allowed to?

Thanks

[JRM]

Well I've had it for years, since being made redundant, and never claimed so i can't say if it's worth it or not.

They should be able to cover you for all of your mortgage and then sopme living expenses on top - a few hundred quid, which you can hopefully survive on for a short period.

most have a 6 month joining period when they won't pay out, but I think prudential have one combined with Life cover that starts straight away, might be worth checking out, although you;ll need to declare that you do not have any information indicating a forthcoming redundancy and if you claim, expect them to check.

[Engineer1]

Ah but rumours are one thing, a letter from work starting consultations is something else.

[528Sport]

I have it and pay about £33 and that gives me £1000/month

My advice is take it out sooner rather than later incase the axe starts to swing, some companies ask if there have been redundancy in your place of work and if the answer is yes they may refuse cover.

It also in some cases have a 1-3 month period before the cover can kick in.

So check the small print

I think i am with legal and general. A company called Bright Grey also do this