Protect Your Finances Against Coming Out Of Work Due To Redundancy With Redundancy Insurance
If you were to be made redundant then you would still have to meet your essential outgoings such as your loan repayments, mortgage repayments and the cost of everyday living. If you want to insure against this possibility then you can take out redundancy insurance in the form of loan payment protection, mortgage payment protection or income protection insurance. You can take out a policy just to protect against coming out of work through redundancy or you can take out additional protection to cover accident, sickness and unemployment together.
Mortgage payment protection insurance (MPPI) would give you an income to make sure that you could continue to repay your mortgage repayments and so make sure that you would not lose the roof over your head by getting behind on your mortgage repayments. Loan insurance would give you the money to continue meeting your loan repayments and not get into debt and income protection would ensure that you had enough money to continue with your lifestyle and pay your essential outgoings.
There is a waiting period before you can claim...