income protection insurance for self employed
shaziam
Posts: 50 Forumite
Hi looking for advice please, we took out a mortage in 2006 my husband is self employed and was told he needed insurance to cover should he come out of work, he was paying this monthly up until last year, the payments started off around £60 and over the years were close to £100 a month, he questions whether he actually needed this insurance and now he puts that money away each month. please can someone help as to if he did have to have this for our mortgage application to go through, if not who can he seek further advice regarding making a mis sold claim.
thanks for any advice regards sharon x x x
thanks for any advice regards sharon x x x
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Comments
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if not who can he seek further advice regarding making a mis sold claim.
income protection is an important insurance held in high regard. He obviously wanted it.
Why would you put a missale complaint in?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 -
Do you really think "putting away" £100 a month provides the same level of insurance cover as an Income Protection policy?he questions whether he actually needed this insurance and now he puts that money away each month.
I can assure you it doesn't.
Nothing you have detailed indicates that any mis-sale has taken place.
Your husband is now taking a huge gamble by cancelling this insurance, self employed or not..0
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