We'd like to remind Forumites to please avoid political debate on the Forum. This is to keep it a safe and useful space for MoneySaving discussions. Threads that are - or become - political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.

Income Protection - Redundancy vs restructure

Hello Guys,

My company has announced restructure. This does not mean redundancy.
Although every ASU insurance asks a question:

Whether your company has announced redundancy, restructure or reorganization.

I tried answering yes with explaination that restructure does not mean redundancy and still was turned down.

I have read that there is no point in saying NO to get the insurance as when it would come to make a claim they would turn it down.

I have 2 questions:
1. How do the insurance company investigate whether or not my comany announced redundancy/restructure at the the time I took out the policy.
Will they contact HR?
2. Is there a Insurere who only considers redundancy threat and not reorg/restructure as a criterion to turn down the policy? Or in other words would offer a policy even if company has announced restructure.

Thanks
Sam

Comments

  • yelf
    yelf Posts: 860 Forumite
    Part of the Furniture 500 Posts Combo Breaker
    Restructuring basically means "We're gonna use this as an opportunity to bin all the dead weight" - hence why you've been turned down
This discussion has been closed.
Meet your Ambassadors

Categories

  • All Categories
  • 346.6K Banking & Borrowing
  • 251.3K Reduce Debt & Boost Income
  • 451.4K Spending & Discounts
  • 238.8K Work, Benefits & Business
  • 614.2K Mortgages, Homes & Bills
  • 174.8K Life & Family
  • 252K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16K Discuss & Feedback
  • 15.1K Coronavirus Support Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.