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Income Protection Insurance
Robboseven
Posts: 91 Forumite
I currently have a policy which will pay out £650 per month to cover my mortgage payments if I should fall ill and am unable to work, I am self employed. I recently decided to take out a further £750 per month with another insurer to cover the rest of my bills.
I have today received a letter telling me that they cannot proceed with the application as both policies are underwritten by the same company and they will not cover any more than 50% of my basic salary.
Does anybody know either a way round this or suggest an insurer who does not apply this rule? Being self employed I really just want to have my own sick pay scheme.
I have today received a letter telling me that they cannot proceed with the application as both policies are underwritten by the same company and they will not cover any more than 50% of my basic salary.
Does anybody know either a way round this or suggest an insurer who does not apply this rule? Being self employed I really just want to have my own sick pay scheme.
My friend drowned in a bowl of muesli.
He was pulled in by a strong currant.
He was pulled in by a strong currant.
0
Comments
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most companies have limits of between 50%- 65%
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even if taken thro' 2 separate companies / underwriters , the payouts would be scaled down to take into account the other payoutAny posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.0
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