I'm claiming on my income protection after losing my job. I have a new one but it is part-time. Will this void my insurance?
SimplyFinance Answers is a great place to start your research, but it is not a substitute for personalised, professional
advice. Please review our Terms of Use or Sign Up to ask a question or comment on an existing question. If you would
like to speak to an expert directly, use our Adviser Search to find an adviser in your area and contact them directly through SimplyFinance.
The income I'm getting now would be a fraction of my previous earnings, so not enough to cover all my outgoings.
ptd2010
2 years ago
Expert Financial Adviser Answer
Darren Smith
answered 1 year ago
first of all, you need to contact the insurer and let them know your change in circumstances. if you dont, they might take a dim view and see this as an attempt to defraud them which i am sure is not your intent.
there are many policies that will still allow the benefit to be paid on the basis that you have lost x% of your income and therefore would pay x% of your cover.
these are the exact points to check before you take out cover so that you know how to cope with the return to work. it is commendable that you have found new work but dont let your hard work fade by this issue.
most insurers will look favourably on cases where they can and where they see you are trying to remedy the problem.
your concern might not even be an issue as the insurer might only have a concern once your number of hours is above a certain level, the only way to know for sure is to call them.
they will want to know dates, amounts and hours of work so make sure you have this available for when you call them. The better insurers will also have "back to work" departments to help you get back on your feet. They can help with all sorts of skills such as cv writing and interview technique.
report abuse
there are many policies that will still allow the benefit to be paid on the basis that you have lost x% of your income and therefore would pay x% of your cover.
these are the exact points to check before you take out cover so that you know how to cope with the return to work. it is commendable that you have found new work but dont let your hard work fade by this issue.
most insurers will look favourably on cases where they can and where they see you are trying to remedy the problem.
your concern might not even be an issue as the insurer might only have a concern once your number of hours is above a certain level, the only way to know for sure is to call them.
they will want to know dates, amounts and hours of work so make sure you have this available for when you call them. The better insurers will also have "back to work" departments to help you get back on your feet. They can help with all sorts of skills such as cv writing and interview technique.