mort/protection query

trafalgar_2

I have just found a quote for mortgage protection that is cheaper than my renewal BUT :-/

Hubby has just been told the redundancies are possible and won't know if he is a likely candidate until two weeks time.

Because I'm changing insurers it says if we know redundancies are possible prior to start date it may void the cover


My question therefore is.................

If hubby confirms he isn't in the group of possible redundancies are we then safe to take out this cover..................or does he need to be in the clear for 60/90 days ???


Any help appreciated

dunstonh

It depends on the small print and will vary across the providers.

I know some that will not pay out for 6 months after commencement.

trafalgar_2

It depends on the small print and will vary across the providers.

I know some that will not pay out for 6 months after commencement.

Thanks for reply ,didn't make myself clear sorry................if we find hubbys part of corporation is not due for redundancies are we then ok to apply and that clause won't count ???

MarkyMarkD

The last thing I would do is switch providers if there is any talk of likely redundancy.

You will NOT get a good hearing if you have been with a provider for one month and then get made redundant.  It will be virtually impossible to prove you were not aware of the risk of redundancy and that is a sound reason for the claim to be refuted.

trafalgar_2

That was my understanding ,thank you just needed confirmation

Thank you MarkyMarkD