Protect against unemployment with cheap redundancy insurance
- 2ND OCTOBER 2007
If you were to be made unemployed by involuntary redundancy then you would still have to find the money to meet your essential outgoings such as loan repayments, mortgage repayments as well as for your day to day living expenses. One way to protect against the unknown is by taking out insurance against coming out of work and this you can do by taking cheap redundancy insurance.
Cheap redundancy insurance can be taken in the form of income payment protection, loan payment protection and mortgage payment protection and all can give you an income with which to carry on meeting your commitments if you should be made unemployed. All policies can start to payout from the 31st day of being out of work though some policies sometimes don’t kick in until the 90th day. . Once the unemployment cover has started it would then continue to give you an income for up to 12-24 depending on the policy terms and conditions.
Mortgage payment protection insurance (MPPI)is taken out if you have monthly mortgage repayments to make and this cover can give you peace of mind that you wouldn’t be at risk of losing the roof over your head. Loan protection is taken out to cover your loan repayments and stop you from getting into debt and income protection insurance will give you a replacement income up to a set amount each month so you can carry on paying your essential commitments.
A specialist provider will offer the best premiums for cheap redundancy insurance whilst offering a quality product. One of the cheapest standalone and ethical specialists in payment protection is British Insurance. British Insurance can save you up to 40% on mortgage payment protection and 80% on loan protection premiums, protecting you financially should you be unfortunate enough to be made redundant.
