Redundancy Insurance

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I want total monthly benefit in excess of £2000 per month.
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Redundancy Insurance

Redundancy Protection Insurance is often sold with mortgages, credit cards and other loans. This form of cover is often known as Income Protection or Payment Protection. This cover provides payments when someone loses their job. Payment protection from lenders can be expensive so it pays to look at policies from independent brokers such as UKinsuranceNET.

Redundancy Insurance Cover can help you protect either your salary or mortgage repayments if you lose your job due to redundancy. In other words, there are two types of Redundancy cover, comprising Mortgage Protection insurance and Salary Protection insurance. Either way, both help you to meet your financial commitments, through regular payments under the terms of your Redundancy cover.

The money received from the insurance policy should not be treated as income by the DSS provided the claimant is using the insurance to pay monthly payments on a loan, credit card, mortgage, or similar agreements.

Redundancy Cover, which is also known as Redundancy Insurance, can help you protect either your salary or mortgage repayments if you lose your job due to redundancy.

If you need your Redundancy Insurance to cover your mortgage, the maximum monthly benefit you are allowed to insure is 65% of your normal income. You can choose to receive benefit payments after either 30 or 60 days of continuous unemployment and benefit will cease after you have received 12 monthly payments.

For salary protection the maximum monthly benefit you are allowed to insure is 50% of your normal income. You can choose to receive benefit payments after either 30 or 60 days of continuous unemployment and benefits will cease after you have received either 12 or 24 monthly payments.

UKinsuranceNET redundancy protection 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 0845 365 1264 or fill out our online quote request form and one of our advisors will contact you.