Q: Unemployment cover - due to buy a new house in January and would like the payment protection insurance to cover the payments if I am made unemployed.
A: The policy that we provide is an income payment protection insurance policy. It allows you to cover £1500 or 50% of your gross monthly income whichever is the lower. The minimum is £100. At the point of claim the money goes to you to use as you wish, mortgage, income, loans etc.
Please note that there is a 120 day initial exclusion period at the beginning of the payment protection insurance policy, if you were to lose your job or be made aware of losing your job within that time period then you would not be able to claim on the payment protection insurance policy. Once you are eligible to claim it is a 30 day waiting period and back to day one.
Full accident, sickness and unemployment insurance policy wording and a quick quote facility are available online at www.britishinsurance.com.
If we can be of further assistance please do not hesitate to contact us again either by email or on 08450 175 178.