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T O P I C R E V I E W
carl
Posted - 30 September 2010 : 22:03:38 Hello all
I've just had a telephone call from my Life Insurance/Unemployment Protect cover company saying that the OR has written to them requesting details of the policy. Can anyone tell me the details they will be requesting from them?
I basically took out the Policy in June 2010 for the unemployment cover due to the nature of my work and there was free life cover included with the policy. It pays out a fixed some on death and decreases in cover over 20yrs. I have only paid three monthly payments to the company totalling £90.00.
How does the OR treat these policies during BR?
Thank you
1 L A T E S T R E P L I E S (Newest First)
Reviva UK
Posted - 30 September 2010 : 23:37:23 The OR is trying to find out if your policy has a cash in value that could be part of your estate in bankruptcy.
If you are going to keepmthe policy going you need to ask the OR to buy it back - this is so that if you die during the br the money willngo to your intended rather than the br estate.
The cost is £50 per policy
Paul Johns Bankruptcy Specialists Reviva UK www.revivauk.com 08454 751 851
