Redundancy Insurance

Find the best unemployment insurance by comparing our panel of specialist ASU providers.
	British Insurance offer income, payment & mortgage protection insurance with up to 12 months benefit and a choice of excess periods
	Want to cover payments to your Mortgage, Rent, Loans, Credit Cards - or just a percentage of income? Short Term Income Protection covers them all. Redundancy only cover from £3.00, and you'll be on cover within the hour.
	I Protect Insurance offer mortgage & redundancy insurance plans from only £10 per month. Their plans are designed to pay mortgage, rent and other regular commitments.
	Help U Cover Offer a choice of plans to protect your income or your mortgage payments and your income.
	Protection UK NET, Have been arranging PPI plans to customers all over the UK for more than 30 years. They endeavour to offer excellent value in all of the insurance policies they offer.
	Columbus MPPI provde cover should you be unable to make your mortgage payments as a direct result of the insured perils such as accident, sickness & unemployment
	If you cant work or are made redundant the GET MY Mortgage Proection plan can take the strain. Their plans not only offer cover for your outgoings but also help in getting back to work
	Lexelle are proud to offer comprehensive coverage with value for money premiums and plans that are as individual as their customers

Statutory Redundancy Pay

Statutory redundancy pay is normally payable to any employee whose employment is terminated on grounds of redundancy, provided he or she has at least two years' continuous service at the date of termination of employment.

As a rule of thumb, statutory redundancy payments are calculated on the basis of one week's pay for each year worked up to a maximum of 20 weeks' pay. The maximum amount of a week's pay is capped by national legislation, which from 1st February 2007 set the maximum figure at £310 per week. The cost of any redundancy payment will fall on the company / person employing the worker when he is dismissed.

A precise calculation of statutory redundancy pay can be made using the ready reckoner on the Department of Trade and Industry's web site.

Staff whose contracts of employment are liable to be prematurely terminated on grounds of redundancy may be eligible to apply for voluntary severance on enhanced terms depending upon agreements with the employer in force at the time.

No matter how much Notice of Redundancy is given and how generous the Redundancy Pay is, it is very rarely enough to give you financial stability until you have managed to obtain another job. This is where Redundancy Insurance is important. Getting Redundancy Protection from an independent broker such as UKinsuranceNET guarantees that you will receive truly impartial advice pertaining to your own individual circumstances.

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.