mortgage protection

tkel01

I have a policy that pats out after 60 days if im made redundant.

Does it pay out regardless of how much i get as a redundancy package?

thanks

IanSt

Well that is going to depend on the terms and conditions of the policy.

If it were me then I would right now go and find the policy to read the actual details as there may be terms in there that will affect this e.g. although I doubt whether there is anything in there about not paying out because of the amount of redundancy, there may well be other terms that could have an impact.

For instance there could be 101 terms on what you have to do e.g. about when you have to inform them, or what kind of job they consider you need to look for - it may not be an equivalent job, they could perhaps say you need to look for any job and stop the payment if you can't prove you are.