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Mortgage Protection Policy/ Jobseekers Benefit

  • 26-11-2008 9:45pm
    #1
    Ginger83
    Registered Users, Registered Users 2 Posts: 3,592 ✭✭✭


    Hi, advice please
    I have a mortgage protection policy in place that pays my mortgage approx 1k per month should I become redundant.
    Its looking more likely now and I just wondered if this would be taken into consideration if I applied for jobseekers benefit?
    Would the social say "We are not giving you 800pm cos you are getting 1k pm from your insurance policy" Thanks.


Comments

  • #2
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    Provided you're made the neccesary contributions (stamps is old-skool :cool:) and you are willing and available to start work and you're searching for work, the money is yours.

    Realy the 1k is coming from a private insurance company and I think it's compulsory to have this when you take out a mortgage. If it's not compulsory it should be imo!

    Relax, the welfare officers will explain all


  • #3
    Ginger83
    Registered Users, Registered Users 2 Posts: 3,592 ✭✭✭Ginger83


    Thanks for the reply.
    The problem I have is I am in a dying trade. I've worked in it for the past 11years and if made redundant it would be very unlikely for me to find another job in this line of work immediately. Maybe they'll make me apply for other types of work,I dont know as I never had to ask for the help before.

    I do have a life insurance policy with my mortgage which is complusory but this other policy is a mortgage repayment potection policy that covers my payments should I become involuntary unemployed which is not complusory that I took out personally.

    I wonder if this jobseekers benefit that is for redundancy cases means tested.


  • #4
    mikemac
    Closed Accounts Posts: 19,986 ✭✭✭✭mikemac


    Ginger83 wrote: »

    I wonder if this jobseekers benefit that is for redundancy cases means tested.

    It's a good question and many people will getting reduncany packages and wonder will they get a lower payment as the officers might think they have substantial savings now

    But it's Job seekers benefit you are going for. This is where you have made the contributions and after 11 years, you've certainly paid plently.

    Job seekers allowance is means tested so slightly different but it doesn't apply to you.

    You've paid into the system and now it's there for you.
    Regarding retraining, you could probably do a FAS course
    Lots of recent posts on FAS on boards lately but not the kind with training info :D


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