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Income protection insurance redundancy. It s a short term income protection policy. Uk insurers in this comparison do however. When you purchase redundancy insurance uk providers will often include clauses such as an exclusion period. Not all income protection policies include redundancy insurance.
Instead it is sometimes bundled as part of an income protection policy. If it is an optional extra this may result in a higher overall income protection premium. This insurance replaces a proportion of your income for a fixed period of time usually 12 or 24 months. What is redundancy insurance.
You ll hear it called unemployment protection insurance too. It may be offered as a standard inclusion of the policy or an optional extra. It provides cover for your income for up to 12 months if you re unable to work due to involuntary redundancy. It can be used to protect things like your income mortgage payments or loan and credit card.
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