A quick guide to unemployment cover
- 29TH JULY 2007
Although a high number of people have heard of payment protection insurance (PPI) and mortgage payment protection insurance (MPPI), very few individuals have actually heard of unemployment cover. However, it is another part of the payment protection group of policies that can help ease financial pressure should the policyholder become unable to work.
unemployment cover is an insurance that allows individuals to protect their income against redundancy, illness, accident and unemployment. Hence they are not just protecting their debt repayments, they are also protecting their livelihood and lifestyle. A good unemployment cover will offer financial relief for typically twelve months by providing a monthly lump sum, which would be the equivalent of what an individual was earning before losing his or her job.
Considering that over 1.7 million British individuals are out of work within the UK at the moment, it is easy to see just how beneficial unemployment cover would be. After all, unemployment would render some individuals unable to provide for their families.
The ethical British Insurance offers unemployment cover and is one of the cheapest in the business. The policy offered by British Insurance is available at a fraction of the high street equivalent and is thus better value for money, Regardless of value, unemployment cover is something that no individual can afford to be without.
