Financial Planning Guide & Calculators About Ask Financially Financial Calculators Login to your account Contact Ask Financially  
Guide to Redundancy Cover

Find the Best Redundancy Cover

When looking for the best or most suitable redundancy cover there are many insurance products to consider. Below are some of the suitable products, what they are called and their features.

M.P.P.I Mortgage and Payment Protection Insurance:

  • Primarily designed to cover repayments made on a mortgage.
  • Generally, this product provides a benefit should the policy holder be unable to work because of accident, sickness or redundancy.
  • Benefit commences once the policy holder has been out of work for an agreed period, the benefit is then paid for up to 12 months.

P.P.I Payment Protection Insurance:

  • Commonly used to provide enough benefit to repay certain bills such as credit cards, store cards, repayments on loans or mortgages.
  • This product provides insurance against accident, sickness, redundancy and death.
  • Benefit is paid for a maximum of 12 months and there is usually a waiting time before the policy benefit will commence.
Whichever policy you decide's best for your personal situation, make sure you understand the terms & conditions before making a commitment.

A.S.U. Accident, Sickness and Unemployment:

  • This product provides a set income which can be used however the policy holder wishes, but usually provides an income to pay off bills, loans and mortgages.
  • This product provides insurance against accident, sickness and unemployment.
  • The benefit term is determined before the policy commences but is usually between 12-24 months.

 


PDF see our free PDF guides here

Guide Contents

Redundancy Cover
Finding the best redundancy cover
Buy redundancy cover
Frequently asked questions about redundancy cover
Where to get more help about redundancy

main menu << previous page  next page >>