For a cheap redundancy insurance quote stick with specialist providers
- 30TH OCTOBER 2007
Redundancy insurance can provide you with the money needed to carry on paying your essential outgoings if you should come out of work after being made redundant or suffer from accident or sickness. However the cover can be an expensive addition to an already over stretched budget depending on where you choose to go for the cover, but you can make savings if you get a cheap redundancy insurance quote from a specialist.
There are other advantages besides making huge savings on the redundancy insurance quote premiums for the cover and one of the biggest is that they will give you the vital information you need to ensure that the product would be suitable for your circumstances because there are exclusions in a policy which could mean you wouldn’t be able to claim against it. Some of the most common exclusions include being in part time work, suffering from a pre-existing medical condition, being of retirement age or self-employed.
Providing a policy would be suited to your needs then it would give you an income which was set when you took out the policy and which the premiums are based on along with your age. The income would begin to be paid after you had been out of work for a set period of time which can be anything from the 31st day to the 90th day of being out of work continually.
Policies would usually carry on paying out for up to 12 months and with some providers for up to 24 months so check this along with the exclusions when you take out your policy.
An ethical provider such as standalone specialist British Insurance will always give you a comprehensive redundancy insurance quote and ensure you have the information you need to make sure that a policy is suitable. They offer loan payment protection for premiums up to 80% cheaper than the high street lender so that you can carry on paying your loan repayments if you should be made redundant. If you want to protect your mortgage repayments then mortgage payment protection will give you the income each month to carry on paying your mortgage and so not get into arrears and risk repossession and is 40% cheaper with British Insurance and you can protect your income up to a certain amount each month with income protection.
