Redundancy Protection Insurance

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Redundancy Protection Insurance

Redundancy Insurance can be a condition of some loans. Anyone with commitments such as a mortgage should take it out. A lot of people have stretched themselves to their financial limit with their mortgage. For these people it is vital to be covered for redundancy. Most good policies will cover any bills related to your mortgage - including interest and repayments.

Benefits for people in this situation from the state have been severely curtailed since 1995. They are limited and means tested, so if you have savings you would be expected to use them first. Also, expect to wait nine months before you see any payout at all. When you do get something it will be a pittance.

A good Redundancy Protection policy will start to pay out one month after you are made redundant. Typically policies pay out for 12 months. It is expected that within that period people will have found other employment or recovered from illness.

You can also get policies which cover other bills in the event of illness or unemployment - such as credit card and car loan payments

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