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Please help - need income protection.
confusedandbaffled
Posts: 4 Newbie
Hello,
I am trying to apply for unemployment benefit but not having much luck.
I have been with my current employer for 11 years and in November last year was told that my US manager no longer wanted to fund UK employees (we were too expensive for him). Therefore, I, and a couple of colleagues, were left without jobs. However, we have not been made redundant. Whenever I speak to HR they say redundancy is not on the cards and we just have to find a new job within the company. Now the company is large but not many people are taking on staff at the moment - even internal staff. I haven't found a job yet and am still 'floating' between temporary jobs (still permanently employed by the company though and still being paid).
Trouble is, I have spoken to a couple of insurance providers and they won't accept my application until I have a stable job title...as what has happened to me is classed as 'restructuring'....but my company restructures every 6 months...does that mean that none of the employees can get income protection ?
I have been in this position for nearly 6 months and just feel in limbo as I can't get a car to replace my heap of junk that is falling apart as I can't protect the payments.
Maybe I'm being too honest in telling the providers upfront about my situation but I don't want to pay hundreds in an insurance only for them not to pay out! Has anyone been in a similar position or can advise in some way ?
Gem.
I am trying to apply for unemployment benefit but not having much luck.
I have been with my current employer for 11 years and in November last year was told that my US manager no longer wanted to fund UK employees (we were too expensive for him). Therefore, I, and a couple of colleagues, were left without jobs. However, we have not been made redundant. Whenever I speak to HR they say redundancy is not on the cards and we just have to find a new job within the company. Now the company is large but not many people are taking on staff at the moment - even internal staff. I haven't found a job yet and am still 'floating' between temporary jobs (still permanently employed by the company though and still being paid).
Trouble is, I have spoken to a couple of insurance providers and they won't accept my application until I have a stable job title...as what has happened to me is classed as 'restructuring'....but my company restructures every 6 months...does that mean that none of the employees can get income protection ?
I have been in this position for nearly 6 months and just feel in limbo as I can't get a car to replace my heap of junk that is falling apart as I can't protect the payments.
Maybe I'm being too honest in telling the providers upfront about my situation but I don't want to pay hundreds in an insurance only for them not to pay out! Has anyone been in a similar position or can advise in some way ?
Gem.
0
Comments
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Maybe I'm being too honest in telling the providers upfront about my situation but I don't want to pay hundreds in an insurance only for them not to pay out!
Being dishonest will just see you paying hundreds in insurance and getting refused on a claim.
You cant get it whilst you the company has you in this position.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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