Redundancy insurance questions

motorguy

TEDDYRUKSPIN wrote: »

Thats great for the above I say.

http://www.paymentshield.co.uk/consumer/mppi/

page 13 states payment in lieu.

Anyway, paymentshield is one of the best insurance company to take. They revised the wording of the redundancy statement which others have not. Impressed to be honest.

Teddy, payment in lieu of notice is a different thing to redundancy payment. In your example you talked about redundancy pay and that the insurance company wouldnt pay out until 'the redundancy pay was used up', now you've moved to talking about payment in lieu of notice.

TEDDYRUKSPIN wrote: »

i.e. for every year you worked for the company, you get 1 week redundancy pay. If you have worked for ten years, you get 10 weeks wage. Say you are made redundant and you have redundancy cover, the company will pay out from the following:

(1) You make a successful claim for JSA and you obtain the JSA agreement.
(2) All redundancy payments are used up (i.e. 10 weeks as above).
(3) 30 days wait from date of claim. Some companies will pay back.

I think you've confused yourself, and quite possibly other people who would otherwise have benefited from this insurance.

motorguy

Queen-Bee wrote: »

Mine doesn't - I am with Paymentshield and started claiming in July
QB

So that makes the one i'm with (Abbey Paymentcare), my wifes and Paymentshield all not doing what Teddy says they all do.

Rockporkchop

pgilc1 wrote: »

So that makes the one i'm with (Abbey Paymentcare), my wifes and Paymentshield all not doing what Teddy says they all do.

And also my insurance co, Synergy!

motorguy

Rockporkchop wrote: »

And also my insurance co, Synergy!

Interesting that Teddy was very quick to jump in there and give seeming incorrect information, but we havent heard from him when it looks like he might actually have to admit hes wrong.

TEDDYRUKSPIN

pgilc1 wrote: »

Interesting that Teddy was very quick to jump in there and give seeming incorrect information, but we havent heard from him when it looks like he might actually have to admit hes wrong.

Just to answer the above quote. For one, I do not stay on this forum all day and so can not reply back every minute.

Secondly, some people like myself can be wrong, once in a while. You win some, you lose some. Not the end of the world. Fact of life.

Besides the above insurance is mentioned as paymentshield. I can tell you now, for HSBC cover, the above is correct on my statement, at least... and also firstassist

Also, I was only trying to help <note for free>. Just to finally say, it is still better to phone up the company in question and just to ask further!

motorguy

TEDDYRUKSPIN wrote: »

Just to answer the above quote. For one, I do not stay on this forum all day and so can not reply back every minute.

Secondly, some people like myself can be wrong, once in a while. You win some, you lose some. Not the end of the world. Fact of life.

Besides the above insurance is mentioned as paymentshield. I can tell you now, for HSBC cover, the above is correct on my statement, at least... and also firstassist

Also, I was only trying to help <note for free>. Just to finally say, it is still better to phone up the company in question and just to ask further!

Welcome back Teddy

A simple, hey i got it wrong, hope i havent caused any confusion would have surficed.

jada_2

Hi,

Just read through the mine of information here and would like to say hello to all of you.

I will be made redundant soon from a local authority and have had the Lifestyle protection in place since Dec 08. I have not been issued a notice as yet but will be issued one soon. In my line of work ie teaching in colleges, we can take up hourly paid jobs on a term time basis. I would quite like to retrain for a few months as well. When I called up the Post Office they said that as long as I get the AB1 form from Job Centre Plus I will get a redundancy cover. Does anyone know what this form is?

Many thanks in advance

motorguy

jada wrote: »

Hi,

Just read through the mine of information here and would like to say hello to all of you.

I will be made redundant soon from a local authority and have had the Lifestyle protection in place since Dec 08. I have not been issued a notice as yet but will be issued one soon. In my line of work ie teaching in colleges, we can take up hourly paid jobs on a term time basis. I would quite like to retrain for a few months as well. When I called up the Post Office they said that as long as I get the AB1 form from Job Centre Plus I will get a redundancy cover. Does anyone know what this form is?

Many thanks in advance

I think its a standard form. I wouldnt worry about it in the meantime. I've had my insurance pay out for two periods in 5 years. Its a simple process.

jada_2

Hi Paul,

Thank you for answering. I checked for any replies only on the 15th and assumed that no one had an answer. In the meantime I am put through the hoops of applying for ‘suitable’ redeployment and also the LEA extracting the last drop of blood. Anyway, I called up the PO on two days and they had differing information. One lady said that as long as I get an ABI 1 form from the JCP I could get an insurance payout. Presumably under the JCP guidelines anyone who works less than 16 hrs is unemployed. (I need to confirm it with someone). The other lady said that if I take up even 1 hr of employment, I would cease to be eligible for claim.

That aside since I am being offered redundancy retirement I will not get any JSA but will need to sign on to get ABI 1 form for sustained PO claim.

As far as training is concerned I can train only for under 16 hrs a week without upsetting the JSA claim.

Hope this information benefits someone.

Paul, I would need your advice in future. I have never claimed anything before. Thank you ever so much for your time!

Regards