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Mortgage Protection - limited Initial Exclusion Period
brucehc6
Posts: 1 Newbie
I am looking to protect my mortgage repayments for unemployment only.
All policies I have acome accross have an initail Exclusion Period - time between taking the policy out and being made redundent - of at least 60 days (most are 90 or 120).
If I take out the policy tomorrow and get chopped 59 days later there is no payout, which I want to avoid (waste of money).
Does anyone know of a short Initial Exclusion Period?
Thanks a lot
All policies I have acome accross have an initail Exclusion Period - time between taking the policy out and being made redundent - of at least 60 days (most are 90 or 120).
If I take out the policy tomorrow and get chopped 59 days later there is no payout, which I want to avoid (waste of money).
Does anyone know of a short Initial Exclusion Period?
Thanks a lot
0
Comments
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If I take out the policy tomorrow and get chopped 59 days later there is no payout, which I want to avoid (waste of money).
That is highly unlikely to happen unless you know its going to happen in which case you wouldnt be covered anyway.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 -
There are policies that have 30 days deferred period.I am a Mortgage AdviserYou should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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