Unemployment Insurance

Wonder_Womble

Hi, just after a bit of advice please.

OH and I are looking to take out Unemployment insurance against our mortgage. We don't want sickness and accident as we both have good sick pay packages at work. I can't take out unemployment cover as I have already been advised by work that my job is at risk of redundancy, so the policy will be for him only.

I read the advice on MSE by Martin Lewis and used the FSA comparison site and decided that ASU seemed to meet our needs, so today I rang them with a few questions. I was told by the advisor that unless we were moving home we can't take out unemployment only cover, we would have to take accident and sickness too. This just sounds bizarre to me, as what is the difference whether you are moving home or not? Does anyone know if this is standard procedure across all mortgage insurance?

brianrhill

Hi Womble

I am aware certainly of one insurer that provides the U without the AS bit, whether or not you are moving house.

http://www.keystoneinsure.co.uk/AboutKeystone.asp
http://www.keystoneinsure.co.uk/Map.asp

Wonder_Womble

Thanks Brian, will have a look at the links :beer:

ACG

paymentshield also offer unemployment cover as a standalone product.

Whilst you may not need or want it, it can sometimes be cheaper to take out everything - i know cheapest isnt always best but dont discount it just on the basis of your employers benefits. Its great that you have a good sick pay package from work, but it wont cover you for the rest of your working life so there is probably still a need for AS at the very least if not Income Protection.

Unemployment cover has shot up in price over the last 2 years or so (for obvious reasons), there is a good chance that you can get everything for around the same price as just unemployment cover.

kingstreet

There are a good few firms offering unemployment only cover.

The significance of the new mortgage/moving house bit is the initial exclusion period.

If you aren't moving, you'll probably have a three or four month waiting period when you first take out the cover in which you can't claim.

Beathan

Well, amazingly the unemployment so far has been decided in my favor, but the school district I left last fall has unti 9/3 to file an appeal of the decision. In the meantime I have discovered that 2 former supervisors are now refusing to give me ANY job references at all, which will effectively keep me from getting any other teaching position and it has already cost me one possible job where the district was interested - and will likely cost me the definite offer I currently have as of Wednesday. I've already raised concerns about this to the district HR office but no response yet - and I doubt I will get one. Not sure what else to do here to resolve this - but clearly they know what they are doing will help prevent me from getting another job.

Getting the job offer last Wednesday was a complete shock and it has left me numb, really upset/crying earlier this week when I saw the T to tell him, and feeling like I am risking going backwards if I take it and it works out because school was my trauma trigger. Plus I would have to move, get everything ready in the new school, and be completely prepared to begin teaching on the 29th LOL - even though the new place is only 4 hours away, this is way too sudden, and I am concerned/somewhat scared of it all which until all this wouldn't have fazed me like it is doing now.

I'm feeling like I'm somewhat cornered here with all this, and having everything blow up soon afterward. I don't know which I would prefer more LOL - that it works out or it doesn't - leaning more toward that it won't and I can get more time to heal and continue with my plans of returning to school in January to get into something different. What I'm noticing more about how I feel is that there's a sense of trepidation/dread/ major concern about the idea of going into the same basic environment that began all this in the first place... and I am worried but trying to be positive here also and not think the worst or project the past into the future here.

Wonder_Womble

Thanks Kingstreet and ACG, I will do some more research.

kingstreet

Beathan wrote: »

Well, amazingly the unemployment so far has been decided in my favor, but the school district I left last fall has unti 9/3 to file an appeal of the decision. In the meantime I have discovered that 2 former supervisors are now refusing to give me ANY job references at all, which will effectively keep me from getting any other teaching position and it has already cost me one possible job where the district was interested - and will likely cost me the definite offer I currently have as of Wednesday. I've already raised concerns about this to the district HR office but no response yet - and I doubt I will get one. Not sure what else to do here to resolve this - but clearly they know what they are doing will help prevent me from getting another job.

Getting the job offer last Wednesday was a complete shock and it has left me numb, really upset/crying earlier this week when I saw the T to tell him, and feeling like I am risking going backwards if I take it and it works out because school was my trauma trigger. Plus I would have to move, get everything ready in the new school, and be completely prepared to begin teaching on the 29th LOL - even though the new place is only 4 hours away, this is way too sudden, and I am concerned/somewhat scared of it all which until all this wouldn't have fazed me like it is doing now.

I'm feeling like I'm somewhat cornered here with all this, and having everything blow up soon afterward. I don't know which I would prefer more LOL - that it works out or it doesn't - leaning more toward that it won't and I can get more time to heal and continue with my plans of returning to school in January to get into something different. What I'm noticing more about how I feel is that there's a sense of trepidation/dread/ major concern about the idea of going into the same basic environment that began all this in the first place... and I am worried but trying to be positive here also and not think the worst or project the past into the future here.

Wrong thread? Forum? :eek: