By far the majority of us will not qualify for income support and those that do, only obtain a small percentage of normal income.
This is not the same policy as Mortgage Protection which in turn may not cover many other loan items so it may be important to ascertain exactly what your current policies actually cover.
The are many terms and conditions regarding all types of schemes covering loan protection insurance and it is worthwhile spending time examining the exclusions as well as the benefits. Many exclusions commonly found include:
Conditions or diseases known at the start date or for which treatment has been received during the 12 months prior to start date
Temporary or seasonal unemployment or the end of fixed-term contracts
Dismissal due to misconduct or breaches of contract
Early retirement
Voluntary unemployment
Some stress related problems
Self inflicted injuries
Aids or HIV
Claims for unemployment occurring within certain time-scales from the start of the policy
As you can see, there are many areas to consider and it would be wise to seek as much assistance as possible and to carefully consider all of the policy exemptions prior to your decision making
For a full and frank discussion with no obligation, speak to Pinnacle Finance today
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