In today’s uncertain economy, very few jobs are 100% guaranteed. You never know when the rug may be pulled from under your feet and leave you unemployed.
And if you are lucky enough to be paid a redundancy package, they are often less than expected. Ensure an income in these uncertain times – redundancy cover will ensure that all you are able to pay all your bills in the event that you lose your job.
The optional redundancy benefit is only available if you have mortgage protection or home and contents cover. It is not a stand-alone product – it’s an add-on option. But an important one.
Key Benefit of Income Redundancy Cover:
- In the event that you are made involuntarily redundant, your redundancy benefit will provide monthly payments of a sum that is designed to replace a significant proportion of your lost income for a period of 6 months. These payments can be used to repay your mortgage or to cover bills during your time of unemployment
This option is not available for payment terms shorter than 6 months.