In a nutshell, you have to tell the insurer about anything that might affect the premium. So if you want to go on holiday but have a serious illness, you’re a higher risk so they’ll charge you more. If you neglect to mention it, you’ve ‘misrepresented’ the situation and the insurer can ‘void’ your contract – cancelling it without payment. … [Read more...] about Insurance small print you HAVE to check for before signing anything
Mortgage insurance premiums 1040
It replaces part of your income - if you can’t work because you become ill or disabled. It pays out until you can start working again - or until you retire, die or the end of the policy term - whichever is sooner. There’s often a waiting period before the payments start - you generally set payments to start after your sick pay ends, or after any other insurance stops covering you. The longer you wait, the lower the monthly premiums. It covers most illnesses that leave you unable to work - either in the short or long term (depending on the type of policy and its definition of incapacity). You can claim as many times as you need to - while the policy lasts. … [Read more...] about What is income protection insurance and can I use it to protect my finances against coronavirus?
If your boss wants you to work, you have to be furloughed for at least three weeks before it reemploys you. And if it furloughs you for subsequent periods, these always have to be for at least three weeks. … [Read more...] about How furlough changes could affect your pay as Rishi Sunak expected to make announcement on scheme