Temporary insurance cover

Meerkat5

Hi

My husband has great insurance cover through his job – life insurance if he dies, critical illness cover if off work with illness and disability payouts if he does something like losing an arm. He’s leaving this job on the 14th December and starting a new one on the 3rd January. The new job has similar cover, but obviously it leaves us with a 3 week period of no cover. That makes me nervous. Does anyone know if it would be possible to take out these policies personally for that short an amount of time? Who would offer this? Many thanks in advance.

InsideInsurance

In short, no. The full fat product like PHI, CI etc require full underwriting and I doubt they'd even be set up by the time you want them to incept especially if your hubby has any medical issues (mine took 9 months to set up)

You could look at a cut down product like Accident and Sickness + Personal Accident but many of these will have a qualifying period of a month or more to prevent you buying it when you start getting symptoms and then claiming immediately after saying it was just coincident

kingstreet

If he has a completely clean medical history and the sum assured/age profile is ok, he may get the cover underwritten and accepted immediately on application.

There is a statutory cooling-off period of 30 days with long-term cover such as life cover, critical illness cover and income replacement insurance, so he could apply, put the plan in force on 14 December and cancel it under the cancellation notice on 3 January and pay nothing for it.

Please don't use an adviser for such a practice as the amount of work which goes into such advice is quite onerous, but going direct to an insurer online shouldn't create too much wasted cost.