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If you are looking for redundancy cover you may want to refine your search with the links above. Many providers call what you are looking for unemployment cover or ASU (accident sickness and unemployment cover)
You will however find links down the right to providers and more information regarding redundancy.
Making sure you are financially protected if you are made unemployed through redundancy is often something we only consider if it has happened to us before.
You may be able to receive some financial help through the sate benefit system subject to eligibility. However there are a number of restrictions that will apply.
· You will not be entitled to receive any help with your mortgage interest payments for the first 9 months of any unemployment.
· If you have a partner and they work more than 16 hours per week or if you or your partner have more than £8000 in savings you will not be entitled to any help in mortgage interest payments.
· Only the interest on your mortgage can be paid by state benefit, any related life insurance premiums or savings plans linked to your mortgage will not be covered.
· If you do receive any help with your mortgage interest payments it will be restricted to the first £100,000 of your mortgage.
So it would seem that most people would not get much help in finding the monthly payments on their mortgage. Use the links provided to find many providers who can offer you quotes and in some cases policies online.
A few have now also started to offer payment protection for other monthly outgoings, not just your mortgage. These can be rent, finance, and insurance or just about anything you can prove is a regular monthly payment.
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