2006-10-14 07:08:06 · 9 answers · asked by RSL800000 1 in Business & Finance ➔ Insurance
It depends on why you lost your job and the terms of the insurance. If you lost your job because you were negligent and were sacked they won't pay up.
My insurance pays a percentage of the outstanding amount each month (however you won't be able to use the card, it will be suspended) which means over time (and how long they cover you from) you would end up with nothing left to pay
ie if you had £100 on your card and they said they would pay 10% of the outstanding balance, the first month's payment would be £10 reducing the debt to £90
Next month at 10%, they pay £9, reducing debt to £81.
Next month, they pay £8.10 reducing debt to £72.90
Can you see the pattern?
Good luck with finding a new job
2006-10-14 07:16:17 · answer #1 · answered by Enid B 2 · 0⤊ 0⤋
It depends on quite a few factors:
1. How long have you been in employment (usually 6 months min to be able to claim)
2. Why have you lost your job (if you were sacked you won't be able to claim, aware of redundancy not able to claim)
3. Are you currently in arrears on your credit card?
Mostly, you have to be off work for a period of, for example, 30 days before you will be able to submit a claim. No-one can give you a definite answer apart from your insurers. Phone them first thing tomorrow and explain your position, they should be able to tell you if your claim is valid and send you a claim form.
Check any exclusions on your policy before you phone!
2006-10-15 05:01:23 · answer #2 · answered by nooka 4 · 0⤊ 0⤋
You need to look at your terms and conditions with your credit card provider, I was made redundant and my company would not pay.. You need to ring your credit cards customer service department. Hopefully they will pay.
2006-10-14 07:12:18 · answer #3 · answered by Lisa P 5 · 0⤊ 0⤋
they will pay as long you have not breached the terms set in the insurance agreement, usually things like, they wont pay if you just left your job, or if you was sacked for Gross Misconduct etc
2006-10-14 07:12:21 · answer #4 · answered by shevlad2004 2 · 0⤊ 0⤋
Yes but only after 90 days and you still have to make the repayments whilste they are dciding whether or not to pay up.
2006-10-14 07:15:16 · answer #5 · answered by Rich S 5 · 0⤊ 0⤋
they should, but only the minimum, so the interest will still keep piling on, and i will take about 10 years to pay off if you dont get a new job.
2006-10-18 00:58:12 · answer #6 · answered by alatoruk 5 · 0⤊ 0⤋
That depends on the small print! They once refused me because they said I hadn't been working long enough
2006-10-14 07:12:07 · answer #7 · answered by lester 2 · 0⤊ 0⤋
Will who pay it each month, your employer? If that is your question, call them and ask.
2006-10-14 07:35:40 · answer #8 · answered by newyorkgal71 7 · 0⤊ 0⤋
stop using it
2006-10-14 08:28:20 · answer #9 · answered by Anonymous · 0⤊ 0⤋