Mpi

GraceJamesMum

Hi all, after some advice please ... is MPI worth having?

I have just been made redundant and have, thank heavens, managed to find another job. However, pay isn't as good, so I need to drastically cut my spending/keep my outgoings in check.

Is is worth me keeping up the payments for MPI? I did look into using it this time, but didn't need to use it - just not sure what to do?

Thanks for any advice.

ACG

This really depends on you.

The industry that your in, are you likely to be made redundant again and if so are you likely to pick up another job either in the industry or not?

I was made redundant 2 years ago, thankfully the job i was in i built up a lot of contacts so it meant i was able to walk into a job the following day so im happy to take that risk. However if your in an industry thats struggling or in decline and/or there are not many jobs in your area then you might be in the other camp.

dunstonh

is MPI worth having?

If you have a financial need for it then yes. It is generally positioned below life assurance, CI cover and income protection in priority but your own financial position and employment type will influence that. If you can walk into another job then you wont think it a priority. If not, then you should.