Q: I am looking at various options for my income payment protection insurance. I currently have an insurance policy which starts 3 months following unemployment. I would prefer it to start from the first month. Do I have to cancel my existing insurance in order to be eligible to start a policy with British Insurance.
A: Our payment protection policies have a waiting period of 30 days and they then pay back to the first day of your claim.
The income protection policy does however have a 120 day initial exclusion period for unemployment which relates to the start of the policy.
The mortgage protection policy will look at transferring your existing cover so long as it has been in force for six months and you have not made a claim in that time.
I hope that this helps