Mortgage protection opinion!!!

legra77

I took out a redundancy protection cover, the policy start date was 1/04/08. Now the question i have is this. The policy has a 90 day exclusion period for any notice of redundancy. The policy wording is 90 days AFTER the policy start date. I have been told we are getting a notice of redundancy letter on 30/6/08. So am i covered or not is the question. I know this sounds like a dodgy claim but i had no idea I was to be made redundant. Only took out the protection because i was in a better position to afford it and a change of the missus work due to a new arrival in family. Any opinion will be greatly appreciated, Thanks.

TEDDYRUKSPIN

As stated 90 days exclusion.

If you are made redundant within this exclusion zone you will not get a pay out. If you are made redundant after this, you will have a valid claim. The redundancy letter had been giving afterwards.

Many people assume these companies don''t know. But to be honest, they send a letter to your company and your company will have to answer a questionaire down to the fine wire.

legra77

Thanks, i realise that. The main query i had was whether the 1st April is included in the 90 days, if so then i should be ok. If not that would make 30th June the 90th day, so not sure where i would stand there. Sorry if this sounds like a silly question but i'm baffled by all the policy wording etc. Cheers.

_Andy_

Have you rung the insurance provider to ask?

lisyloo

My own opinion is that you should be covered.
i.e. 1st April is included, so April is 30 days, May is 31, so 30th June is the 91st day in my opinion.

However as you have already noted I would expect your claim to come under scrutiny because it's going to look fradulent,
I'm not implying in anyway that it is but they will have criteria to check and anyone shortly after the 90 days might be looked at more closely (and yours is as close as it gets).
But as it's genuine I don't think you have anything to worry about.

As above you need to ring the insurer/broker to ask, but ifa policy starts on the 1st then that day is included.
You wouldn't buy car insurance starting on 1st and expect it to start the next day.

legra77

Well thanks for the opinions, i'll ring them on monday once we get our letters. I'll post the outcome, again thanks for the opinions. Cheers.