Friday, October 30, 2009

FT.com / Personal Finance - Redundancy insurance terms ‘unfair’

FT.com / Personal Finance - Redundancy insurance terms ‘unfair’: "“Most PPI policies will not cover you if you have specific knowledge about the circumstances of your employer that increase the likelihood of redundancy,” said an ABI spokesman.
“Some firms ask a specific question about this in the application form. It is important that people understand this before they take out the policy. The policy summary document should make it clear what’s covered and what’s not.”"


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IFAs have always avoided these policies because you would need to be dead from the neck down in order to qualify for any benefit and even then it would depend upon how you became so disabled and after all this any benefit would be paid for a very limited period.

A waste of money all round?

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