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Income Protection - Redundancy vs restructure
kurlakid
Posts: 8 Forumite
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
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
0
Comments
-
Restructuring basically means "We're gonna use this as an opportunity to bin all the dead weight" - hence why you've been turned down0
This discussion has been closed.
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