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Income Protection Advice
StevieDee_3
Posts: 4 Newbie
Hi
I was wondering if anyone can help me out, I got wind of possible redundancies in my workplace and applied for an income/mortgage protection policy.
There has been no formal notice of who is being made redundant, however, I'm sure these will be served in a month or so...
My problem is my cover starts after 60 days can anyone tell me if its normal practice for this to be 60 working days or 60 days including weekends I phoned my insurer but they had no idea!!
Thanks
I was wondering if anyone can help me out, I got wind of possible redundancies in my workplace and applied for an income/mortgage protection policy.
There has been no formal notice of who is being made redundant, however, I'm sure these will be served in a month or so...
My problem is my cover starts after 60 days can anyone tell me if its normal practice for this to be 60 working days or 60 days including weekends I phoned my insurer but they had no idea!!
Thanks
0
Comments
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Most of these have longer than 60 days before unemployment cover kicks in. Especially where known redundancies are involved. Are you sure the 60 days isnt the deferment period?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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My policy said 60 days for cover and deferrment the redundancies are a bit under wraps at the moment but I'm a bit nervous about phoning up and asking my insurers as it might give the game away!0
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