redundancy imminent

millie1

Hi I wonder if anyone can help. It's looking increasingly likely that I'll get made redundant, probably in the next couple of weeks or so. I don't have any insurance cover against redundancy. Is there anything stopping me taking out cover asap? For example, do companies expect you to pay in for a certain amount of time before claiming? If there's no reason why I shouldn't, does anyone know a good company or policy? (I realise this is probably a stupid question else everyone who suspected they're going to be made redundant would do it). Can you advise? Money situation is very tight and I dread to think what will happen when the worst happens.

savingholmes

Most companies void cover if you are made redundant within so many days of taking out the policy. If it is going to be in the next 30 days you are probably too late... If it was likely to be after 3 months you may be able to find a policy...

millie1

Thank you - that is very helpful. I might give it a try and see what's out there.

McKneff

I wouldnt even bother trying Millie, All insurance companies will ask
if you are aware of any impending redundancies and you would have to lie,
they would find out inevitably and you would be possibly be done for fraud.
In any event the companies always have a 3 to 6 monts clause in their contracts.