Redundancy Insurance Policy

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Redundancy Insurance Policy

Redundancy Insurance is also often known as ASU insurance or payment protection insurance. It is often obtained to cover monthly loan repayments, credit card or mortgage repayments. If you are working full time then redundancy cover could be a real help if you should find yourself not in work because of involuntary redundancy, accident or long term sickness.

A Redundancy Protection Insurance policy would pay out once you had been out of work for 30 days or more. It would provide you with a lump sum each month which is tax free each. This would continue as long as you are out of work for up to 12-24 months.

You can take Redundancy Cover out in the form of mortgage payment protection insurance, loan payment protection insurance or income payment protection insurance and all policies work the same way and have similar exclusions which could prevent you claiming. Some of the most common include being retired, self-employed, not in full time work or if you suffer from a pre-existing medical condition.

Redundancy insurance is valuable protection but a good policy with a low premium will be hard to find. The best way of securing the lowest premiums for your redundancy cover is to go with a standalone specialist independent insurance broker such as UKinsuranceNET

UKinsuranceNET Accident, Sickness & Redundancy Insurance policies can be tailored to suit your individual needs. Simply click for a quote. Alternatively speak to one of our highly experienced consultants today on 0844 875 55 33 or fill out our online quote request form and one of our advisors will contact you.