Whose unemployment insurance is paying out?

airhostess

Hi,

I'm looking at getting income protection insurance that will pay me a monthly sum if I get made redundant until I find a new job.

There are lots of companies around, with prices varying wildly. This leads me to believe lots of the cheaper companies have t's & c's which enable them to wiggle out of paying anything, although I can't be certain...

So does anyone have income protection insurance which has sucessfully paid out in the event of being made redundant?

Please let everyone know who they are!

Thanks very much in advance,

AH

dunstonh

This leads me to believe lots of the cheaper companies have t's & c's which enable them to wiggle out of paying anything, although I can't be certain...

It is true that the terms are not all the same and some have more clauses than others.

So does anyone have income protection insurance which has sucessfully paid out in the event of being made redundant?

Redundancy is actually straight forward and very similar with all of them when it comes to claims. However, the qualifying period changes mostly as to how long you have to wait before you are covered.

airhostess

I have found the best income protection quote to be with Churchill.
By best I don't mean cheapest, I mean with the best terms & conditions.

You don't need to be employed for 6 months prior to taking out the policy, it covers accident and sickness as well as redundancy paying up to a max of £2,500 per month, isn't tied to a mortgage or other debt/outgoing but doesn't pay out during the first 90 days of the policy.

Still need to send them a letter to double check if I am eligible as my employer is abroad and I am paid in Euro which may throw the figures out depending on what happens to the exchange rate...

Has anyone had any experience actually claiming from Churchill?