One of the most wanted financial products in the United Kingdom today is the unemployment insurance. Given the current financial climate which envelops the world right now, unemployment is very rampant everyday hundreds of people lose their jobs and thousands also resort to taking out their own unemployment insurance. One aspect of unemployment insurance which consumers usually clamour for is mortgage protection.
Protecting your mortgage dues by means of unemployment insurance is the best way to go because it is like hitting two birds with one stone. You get the chance to receive regular payments to help you deal with your expenses while at the same time, you are assured that you can still go on with your life without having to worry about how you can manage to pay for your mortgage dues in time of your unemployment.
On the other hand, since a lot of people are taking out this type of insurance and that there is array of insurance providers in the market today this has attracted fraudulent activities with regard to the selling of unemployment insurance. Individuals with selfish motives deceive innocent insurance buyers to purchase unemployment insurance which they may never be able to utilize in the future.
Fraudulent activities may just simply start by small lies like if your insurance broker does not tell you that you need to be a full time employee working for a specific institution to avail of your insurance claims. What if you are self employed? What if your insurance agent did not disclose this information to you? The bad side is that you won't be able to enjoy the benefits you may gain from unemployment insurance even if you have paid for it already.
A policy holder can claim for his or her unemployment insurance benefits if he or she is a regular full time employee for around 6 months even before they applied for the insurance policy. You should be working in the United Kingdom as well for you to be able to claim for your insurance.In addition to that, if you work for a fixed term and your unemployment is because the fixed term transpired already, then you are not eligible to claim for your insurance benefits.
If you are on the lookout for efficient and authentic unemployment insurance cover in the market, the first thing you may do to prevent yourself from becoming a victim of fraudulent selling of this cover is by checking if the advertisement for the unemployment insurance being offered to you has contact details and addresses indicated in them. This may initially signify authenticity. In doing so, you know where to go to and what to contact if in case you sense something wrong when being sold your insurance policy.
Another thing you can do to prevent yourself from being a victim of fraudulent selling of unemployment insurance is to check if the insurance company who is currently offering you this cover is an authentic one who happens to be registered under the government as well. It pays to be sure since you are investing your money on this as well.
Protecting your mortgage dues by means of unemployment insurance is the best way to go because it is like hitting two birds with one stone. You get the chance to receive regular payments to help you deal with your expenses while at the same time, you are assured that you can still go on with your life without having to worry about how you can manage to pay for your mortgage dues in time of your unemployment.
On the other hand, since a lot of people are taking out this type of insurance and that there is array of insurance providers in the market today this has attracted fraudulent activities with regard to the selling of unemployment insurance. Individuals with selfish motives deceive innocent insurance buyers to purchase unemployment insurance which they may never be able to utilize in the future.
Fraudulent activities may just simply start by small lies like if your insurance broker does not tell you that you need to be a full time employee working for a specific institution to avail of your insurance claims. What if you are self employed? What if your insurance agent did not disclose this information to you? The bad side is that you won't be able to enjoy the benefits you may gain from unemployment insurance even if you have paid for it already.
A policy holder can claim for his or her unemployment insurance benefits if he or she is a regular full time employee for around 6 months even before they applied for the insurance policy. You should be working in the United Kingdom as well for you to be able to claim for your insurance.In addition to that, if you work for a fixed term and your unemployment is because the fixed term transpired already, then you are not eligible to claim for your insurance benefits.
If you are on the lookout for efficient and authentic unemployment insurance cover in the market, the first thing you may do to prevent yourself from becoming a victim of fraudulent selling of this cover is by checking if the advertisement for the unemployment insurance being offered to you has contact details and addresses indicated in them. This may initially signify authenticity. In doing so, you know where to go to and what to contact if in case you sense something wrong when being sold your insurance policy.
Another thing you can do to prevent yourself from being a victim of fraudulent selling of unemployment insurance is to check if the insurance company who is currently offering you this cover is an authentic one who happens to be registered under the government as well. It pays to be sure since you are investing your money on this as well.
About the Author:
Do you want to find out more about Unemployment Cover in UK?, then visit Geraldine Baker's site at http://www.unemploymentcover.org.uk for your needs!
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