General Chat, Products & Comps <
07/02/2014 at 11:26
Do you have insurance on your income or life insurance ? I am looking at this now, we have life insurance but due for renewal and I am going to shop around. OH is insured for losing his job and this covers us for a year of mortgage payments but I am not covered as I used to work in pulbic sector with pretty much zero redundency chances, now I don't I am wondering if it is worth paying out for me too? although I have never struggled to find work and would just take temping jobs/contracts to pay the bills I expect.
If you have it who are you with?
07/02/2014 at 11:33
I had redundancy insurance with Advent but had to stop when I handed my notice in at my old place and needed to wait a certain amount of months at my new job before taking it up again. You've reminded me I haven't done this so need to. It literally was pennies for the payout so well worth.
We both have life insurance with Bright Grey.
07/02/2014 at 11:38
We just have life insurance which covers our mortgage if one of us dies, took it out with nationwide when took the original mortgage out so don't think 13 years later we'd get a better one! I also have a policy through work which would pay out a fair bit (3.5 times salary or something like that) and I also have critical illness cover.
I did take out income insurance to cover the mortgage if I was made redundant, but for a number of reasons I cancelled it - partly because they have so many clauses in them that a lot of people seem to not get anything, and there'd have to be something seriously wrong with me not to get back into work in some way, temping, contracting etc., and if not, now I'd possibly work in MrDD's shop if I was to lose my job.
07/02/2014 at 21:33
We have life insurance & critical illness cover but got rid of our unemployment cover earlier in year. We were paying too much for it & it was going to give us little return if that makes sense.
Currently claiming of our critical illness cover as I had cancer last year (in remission for next 5). Looks like it's gonna pay out (i meet the conditions anyway) but obviously no one will insure me again & many have refused to insure us as my husband had sciatica last year & is in a manual job. So if it pays out (mortgage plus some) it will have been well worth the £55 a month - obviously I would have preferred not to have had cancer but Cest la vie.
08/02/2014 at 10:14
We don't have anything like this. We both have jobs that give us good illness cover. Hs job is pretty safe & although redundancies are more common now in my profession I think there are none planned for the next couple of years where I currently work & I'm fairly sure if it came to it I could pick up agency work.
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