Switching insurers

Girloutside

Hi All

By looking at the tips on this site, I've realised I can save on my monthly outgoings by changing the companies I use for life/mortgage protection insurance. However, my dilemma is that the insurance recommended by Martin has a period of several months after signing up before it would cover me. I'm worried about cancelling the others, signing up to the new one and hence not being covered for anything for several months.

Just wondered whether Martin or anyone else has any pearls of wisdom as to how I can get around this? I know maybe I should just take a chance, but don't really want to.

Thanks in advance!

Helen

dunstonh

However, my dilemma is that the insurance recommended by Martin

It should be pointed out that no recommendations are made on regulated financial services products at this website. I believe the correct wording would be that the information is provided to aid your own research to allow you to make your own mind up.

has a period of several months after signing up before it would cover me. I'm worried about cancelling the others, signing up to the new one and hence not being covered for anything for several months.

options are to pay both for the qualifying period, stay with what you have or take a chance.

What you decide to do, is up to you.

payless

mortgage protection insurance - in some cases, some providers do waive exclusions if policy is a replacement of existing cover ( and no claims ), or as stated above pay for 2 at same time ( again some policies have initial incentives which might soften the blow)

Life - not normally an issue- you start one policy ( once accepted) and then cancel the other next day ( suicide is only real "time exclusion " that might throw up )

Other policies like Crit Illness / IP - now that can be more complex! Might be the same as "life" BUT differing terms , definations & exclusion may apply

Girloutside

Thank you both for your help.

Helen