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This is all more relevant in today’s economic environment where there is instability in every sector and austerity drives in many organisations. Having a redundancy protection insurance policy offers you financial support to help you pay your bills, as well as giving you peace of mind.
In the event of unexpected redundancy, you would receive a monthly income for you to use to pay your bills, debt obligations or even your mortgage. Redundancy income protection insurance is part of the payment protection insurance group of products, also known as PPI. By having a policy you would have protection against involuntary redundancy. This financial assistance will help you carry on with your lifestyle and focus your efforts in finding a job and get back on track.