Am I Over Insured and Paying Policies I Can’t Claim On?

You May Benefit from a Policy Review…

I think your current cover needs to be reviewed properly as there is the potential to be over-insured. Different insurers have different limits as to how much you are able to cover, which ranges from 50% to 70% of gross earnings.

The value of advice

I think it would be best to run through properly with an adviser. The adviser would need to know which insurer(s) you are currently with so they can calculate the maximum you could cover.

As you have 6 months of full sick pay and 6 months of half pay, the adviser would also need to calculate how much can be covered under the first policy, which again would depend on the insurer’s income limit.

This is because you’d still be receiving an income for a year, even if it is a reduced income, from your employer.

Please feel free to call us to run through with an adviser – we’re available on 02084327333.