Assurant premium hike.

anna_whd

Sorry if this is a really silly question but can you use the mortgage protection thats on best insurance as income protection? Ie can it pay other bills or purely your mortgage? How do they know? I am also with assurant for full income protection so looking at alternatives!

kazzymac_2

Ok - I am confused. Best Insurance was definately the website I used as per the link from Martin and my letter came from Assurant too. I emailed Assurant last night and no reply so far. I was also thinking of transferring but I think they are the same company. Maybe this was just for the unemployment benefit only? Not sure what to do now

dunstonh

Sorry if this is a really silly question but can you use the mortgage protection insurance thats on best insurance as income protection? Ie can it pay other bills or purely your mortgage? I am also with assurant for full income protection so looking at alternatives!

You can. However, its a budget income protection option and not very good. PHI is superior and should be the option to aim for.

chartreuse_2

kazzymac wrote: »

Ok - I am confused. Best Insurance was definately the website I used as per the link from Martin and my letter came from Assurant too. I emailed Assurant last night and no reply so far. I was also thinking of transferring but I think they are the same company. Maybe this was just for the unemployment benefit only? Not sure what to do now

kazzymac, I don't see why. As I said, I don't think they're the same company, but would it really matter if they were? As long as you can get a policy that meets your needs, at a price that you're happy with, what's the problem?

Of course, whether the policy meets your needs is for you to decide... and if you're really bothered about whether they might be the same company - call them and ask!

anna_whd

thanks for this - however, its only unemployment I need as I get pretty good sickness cover with work that would cover my full salary. so if i take mortgage protection they wont query what I actually spend the money on?

stocks27

Assurant are part of the same company group as British Insurance, I think the group are owned by Bankers Insurance Group.......I am somewhat concerned as to why there hiking up the premiums on one side of the business only to offer a cheaper seemingly identical product on the other???

I wonder if there is an issue with the T&C's on the assurant policy and their encouraging policy holders to ship out, pre an unemployment surge?

Perhaps coming from a finance/banking background I am being very cynical:0)

gillyd1

I only took out this policy two months ago !! after shopping around and with advice from this site !! gone up from 25.71 to 35.84 !! feel a bit cheated ! if I swap will I have the 90 day clause again ?

Sterlingtimes

dunstonh wrote: »

You can. However, its a budget income protection option and not very good. PHI is superior and should be the option to aim for.

Just a few observations. PHI was superior when redundancy insurance could be bought separately, however, I notice that the couple of companies underwritten by Assurance seem to have withdrawn the self-standing redundancy insurance products.

Therefore it may be necessary now to buy unwanted health and accident assurance as the only mean of getting redundancy insurance.

Furthermore the maximum insurable has reduced drastically.

The price hike is very substantial but the insurance gives me piece of mind as the economy worsens, and that's worth a lot.

katherinef1974

well mine went up from £10 to £16 for the accident/sickness cover. Its a lot. V. disappointed
have had a quote from Helpucover backed by Pinnacle of £10 for accident sickness and unemployment cover. Tempted by this but has anyone had negative experience?

phil_51

Mine has gone up from £10.50 to £22. If I go on there website and get another quote it says £11.80 a month.
How do they work that one out!

They have sent the letter only 5 days before the next payment is due!
T&C says...
"We may change the premium rates and terms of cover at any time by sending you at least 30 days’ written notice"

Any links to other insurance ?