Unemployment cover can give a replacement income
- 29TH DECEMBER 2007
If you were to come out of work after being made redundant it could add serious stress to an already stressful situation. Becoming out of work and losing your income means that you would have to struggle to find the money to continue repaying your loans; mortgage payments and of course your essential outgoings. Unemployment cover could be the solution.
Redundancy insurance is taken out for a premium each month which is determined at the outset of taking out the policy and based on your age and the amount you wish to protect. You can guard against being made redundant to cover your mortgage by way of mortgage insurance cover, loan payment protection will ensure your loan repayments are repaid and income protection covers your essential outgoings.
You do have to shop around for the cheapest premiums for unemployment cover and a specialist provider will historically offer the cheapest quotes. Standalone specialists British Insurance offer among the cheapest and also give the consumer all the advice and information they need to make sure that a policy would be in their best interests as it is not suitable for all individuals.
Usual policy exclusions - which means they could stop you from being eligible to claim - include being in part time work, suffering an ongoing illness, being retired or if you work for yourself. Others can be defined in the policy’s small print which must be read before buying.
Unemployment cover from British Insurance would give you a tax free income from the 31st day of being out of work and continues for as long as 12 months if needed, giving you enough time to get back on your feet and back to work.
