Guard Against The Financial Stresses Of Redundancy By Taking Out

Guard Against The Financial Stresses Of Redundancy By Taking Out Redundancy Cover

While we all like to think that our job is safe, in reality no one can now say they are indispensable and redundancies are occurring more and more often. You can however guard against the fact that redundancy could happen to you by taking out redundancy cover.

Redundancy cover – or ASU insurance as it is commonly sold under – is a type of insurance taken out to cover your essential outgoings in case you should find yourself out of work due to accident, sickness or unemployment. Cover can be taken to guard against coming out of work through unemployment only, accident and sickness only or for all three.

If you were made redundant and have such as loan repayments or a mortgage and other essential outgoings then you could be left struggling and any redundancy money you might have acquired would be quickly depleted. However with redundancy cover you would have the peace of mind that if you were out of work for 30 days or more than most redundancy cover policies would give you an income with which to carry on repaying your essential monthly commitments. The majority...