Will iprotect insure me for unemployment?

ramenkid

Hi, after a bit of research I have decided to get the Lifestyle Insurance (ASU) from www.iprotectinsurance.com. It basically covers Accident, Sickness & Involuntary Unemployment. To be honest I only want the unemployment option but they don't just cover that only one.

I have been with my employer for 4 years and 9 months. They have made redundancies a couple of months ago and we all had a pay cut 11 months ago. The company has changed name recently too though all the employees were told that our contracts would be the same as the existing one as it was a buying out. The MD has said that we now would be ok and would have fresh start in 2011 blah blah blah....

I think my job will stay though I'm worried due to the company's recent changes and current economy climate. Few friends I know were made redundant so I want to be prepared. Now I'm filling in the employer's details on the iprotect website and it asks:

Have there been any significant changes in either your workplace or in your company's activities over the last 12 months, or are you aware of any proposed changes, such as:-

Redundancies, reorganisation, merger, wage freeze, large drop in sales or loss of major contract or reduced output etc

So straightaway Redundancies, reorganisation & wage freeze are already on the card. I'm guessing they probably won't insure me. Should I be bother applying for the ASU at all? It's about £32 a month to cover £920 income. Is there anywhere I can try but don't charge me a fortune to be insured?

I know ideally I better get a new job but the ASU is just a peace of mind if I don't find one. Afterall I still have rent & bills to pay.

Would appreciate anyone's opinion on this subject.

Many many thanks.