We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
PPI - very restrictive clauses
papisito
Posts: 14 Forumite
Hi
I was just about to take out British Insurance's PPI policy when I spotted the text below in the terms. To me, it seems very restrictive especially the part about 'company restructure' as most companies these days are modifying their structure to protect against the recession. My concern is that this wording is so vague that i will not get any payments if the worst happens.
Does anyone have any thoughts on this and perhaps some suggestion for other providers with precise wording?
I am not aware of any impending unemployment, whether or not I have received official notification and my employer has not announced a programme of job losses, any departmental or company restructure or merger with another company. Furthermore, I am aware that I will not be covered for unemployment that arises from any programme of job losses, any departmental or company restructure, or merger with another company, announced by my employer before the start date of my policy, or within 120 days after the start date of my policy.
I was just about to take out British Insurance's PPI policy when I spotted the text below in the terms. To me, it seems very restrictive especially the part about 'company restructure' as most companies these days are modifying their structure to protect against the recession. My concern is that this wording is so vague that i will not get any payments if the worst happens.
Does anyone have any thoughts on this and perhaps some suggestion for other providers with precise wording?
I am not aware of any impending unemployment, whether or not I have received official notification and my employer has not announced a programme of job losses, any departmental or company restructure or merger with another company. Furthermore, I am aware that I will not be covered for unemployment that arises from any programme of job losses, any departmental or company restructure, or merger with another company, announced by my employer before the start date of my policy, or within 120 days after the start date of my policy.
0
Comments
-
Similiar conditions are being placed by other insurers ( the 120day bit though is often waived if taken at same time as a new mortgage)
Its good you have spotted the clause on reading the t&c , many won't - welcome to the world of "non-advised " insurance ...Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0 -
Everyone - including insurers are trying to cover their bases. :T Read those T+C's people. READ EM!0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.4K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards