Redundancy Cover Explained

Redundancy Cover

Unemployment Cover otherwise known as Redundancy Cover or ASU offers valuable protection which can provide you with a monthly income if you are made redunant from your job. You may get a redundancy package which will certainly help with the covering your monthly mortgage or rent and general household bills, maybe even any car finance, loans or credit cards.

Unemployment cover is usually associated with a financial product such as a mortgage or loan, helping to ensure that the repayments for that particular debt can be covered. This can be a very useful benefit especially if it could be the difference between keeping up your mortgage repayments or losing your home.

These types of cover are usually short term cover which means that they will only usually pay out for a short period whilst you search for another job, most mortgage policies will only last for 12 months but some can be longer. Either way you’re sure to have some form of income until you get yourself back on your feet.

Key Features

• Can protect your mortgage or loan repayments.
• Usually pays for a short period of time.
• usually has a deferred period before the benefit is paid to you.
• Can be quite cheap cover.

These types of policies have been associated with PPI mis-selling

Please speak with one of our advisers to check eligibility for these policies, we will ensure you are never mis-sold and will tailor a policy to meet your exact needs.

Get A Quote

Call free on 01233 512012 for your personalised quote from a wide range of insurers.  Cover stars from 75p per day.