Should/Can i take out MPPI?

becca_kirby

I'm at teacher in an army school and we were given a letter on Friday stating that their may be a redundancy situation.
Basically there is; we've been told we will have to fill out forms at the beginning of September and we will be informed on the 25th of September as to whether we have kept our job or not.

Am I eligable to take out MPPI? I cant guarantee ill find another job by for September when the new school year starts and if made redundant i'll be out of work in January.

We are in the middle of buying a new build house via part-ex and are at the point of exchanging contracts on the home which will be finished bang on the redundancy date.

We think we will have to pull out of the sale to avoid large penalties if pulling out later or even worse not being able to pay the mortgage and have it repossessed.

ACG

Too late now.

You need to take these sorts of policies out before notice is given.

becca_kirby

i thought so it was never something we expected so it was never thought of

ACG

The amount of people I see who are psychic is amazing!

"We will be fine"
"It wont happen to us"
etc.

In reality nobody knows, by paying £10-20 a month in to a policy would most likely have avoided the stress.

I dont mean to sound like im rubbing salt into the wounds, Im pointing out for others that some protection is better than none and even a small budget can make a big difference if/when you have to claim.

Thrugelmir

becca_kirby wrote: »

We are in the middle of buying a new build house via part-ex and are at the point of exchanging contracts on the home which will be finished bang on the redundancy date.

We think we will have to pull out of the sale to avoid large penalties if pulling out later or even worse not being able to pay the mortgage and have it repossessed.

Better to be cautious.