Q: I currently have an accident sickness and unemployment mortgage payment protection policy but would like to transfer my policy to yourselves as your premiums and terms are more competitive than my current policy. I want to confirm that when I transfer the policy I won’t have an initial exclusion period?
I am also looking to increase the amount I am covered for as currently am only protecting the mortgage payment so would like to check which other household expenses I can include.
A: The initial exclusion period will be waived on the amount of cover on your existing policy. However, any amount over that will be subject to an exclusion period.
As this is an income payment protection insurance policy it can be used to fund any spending you like.