Mortgage/Income insurance

steve33556

Hi, I'll try keep this short. I need to know if anybody knows of an insurance product that is available for temporary workers to cover either loss of income or mortgage payments due to unemployment. I started work as a cotractor in December 2010 on a 3-6 month verbal agreement this has just been agreed again in the same way and could continue like this until a permanant position becomes available. However for piece of mind I'd like to set up a policy to cover any sudden termination of employment. Any advice will be greatly appreciated. Thanks for reading.

forgotmyname

I would imagine they would want more than you earn as a premium to even consider you because temp work
would be very high risk. Verbal agreement with no written contract wont help.

Will be interesting to see if anyone actually in the know can put some info on this.

ACG

you will be hard pushed to get redundancy cover. You could get Income Protection in the event of being unable to work due to sickness/health (depending on your job) but thats about it.

ExpertAdvice

Hi,

No company would provide redundancy cover. You need to be employed with the same employer for atleast 6-9 months depending on the insurer. Also, you shouldn't be aware of any termination or redundancy. You can get cover if you are self employed but not if you are contracting since it poses high risk for the insurer.

steve33556

Thanks for the replies. Thought this would be the case after looking around at a few products just hoped someone might of known different.