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17 Nov 2009, 13:04 (Ref:2583492)
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#1 | ||
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Rookie
Join Date: Sep 2004
Posts: 31
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Income protection
Has anyone had issues, or can recommend a broker for insurance against life/critical illness & income protection (to cover mortgage payments) for someone with a race licence?
We have had one useful quote & I would like something to compare it too, the other quotes have been about 1/2 the price, but had have an exclusion for motorsport. Car is a 1.4 metro in circuit racing btw. Pete |
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17 Nov 2009, 13:36 (Ref:2583513)
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#2 | ||
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Veteran
Join Date: Aug 2004
Posts: 14,699
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I have a little policy with Avon insurance http://www.avon-insurance.co.uk/accidental-death.htm that pays out if you are brown bread or have to have bits cut off and there was no exclusion for motorsport participation like all the others I looked at, wouldnt pay you fortunes but is only about 8 quid a month and better than nothing.
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__________________
You can't polish a turd but you sure can sprinkle it with glitter!
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17 Nov 2009, 13:48 (Ref:2583522)
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#3 | ||
 Race OfficialVeteran
Join Date: May 2003
Posts: 11,143
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I took out life insurance with a mortgage and declared it. They asked a few question about what I race and what series and there was no problems.
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17 Nov 2009, 13:54 (Ref:2583527)
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#4 | ||
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Veteran
Join Date: Jun 2003
Posts: 3,069
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You won't find exclusions on a life insurance policy, but you will on CI/PDB or IPB as Pistol Pete asked about.
I run an IFA practice and am not aware of any insurer currently offering such a plan to the masses. If they don't show a motorsport exclusion specific to you in the acceptance terms, then you should double check the policy for the general exclusions. |
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17 Nov 2009, 18:37 (Ref:2583658)
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#5 | |||
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Racer
Join Date: May 2007
Posts: 310
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Quote:
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17 Nov 2009, 22:05 (Ref:2583804)
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#6 | ||
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Veteran
Join Date: Mar 2003
Posts: 3,523
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I was a good boy when I took out my policies to go with my mortgage, the lift in premium for the life cover was £9/yr after I declared it.
My ar*e is now covered! (as they say) |
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__________________
There is no substitute for cubic inches. Harry Belamonte - 403ci Vauxhall Belmont!! A 700hp wayward shopping trolley on steroids!!
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17 Nov 2009, 22:18 (Ref:2583812)
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#7 | ||
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Veteran
Join Date: Jun 2003
Posts: 3,069
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For sure you need to understand the differences in death and non-death benefits.
There cannot normally be exclusions on death, save suicide in the first 12 months, but there are always general policy exclusions for non-death benefits. |
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22 Nov 2009, 17:09 (Ref:2587249)
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#8 | ||
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Rookie
Join Date: Oct 2004
Posts: 57
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I have had unemployment,accident cover,critical life cover for years (have had to use it a few times as well) and the company has been excellent.
They have always paid up when required. |
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