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Unemployment Insurance

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Hello,

I am looking for a bit of help with redundancy insurance.

My policy has a 120 day exclusion period that states I cannot claim for unemployment before day 120. If I were made unemployed on day 100 would I still be able to claim just not for the first 20 days?

Hope that question makes sense, the impression I get is that it would be a void policy and I wouldn't be able to claim at all but the wording seems to suggest that I would only have to wait until the 120 days is up even if I became unemployed before that date.

Thanks in advance! x

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  • Hello,

    I am looking for a bit of help with redundancy insurance.

    My policy has a 120 day exclusion period that states I cannot claim for unemployment before day 120. If I were made unemployed on day 100 would I still be able to claim just not for the first 20 days?

    Hope that question makes sense, the impression I get is that it would be a void policy and I wouldn't be able to claim at all but the wording seems to suggest that I would only have to wait until the 120 days is up even if I became unemployed before that date.

    Thanks in advance! x

    Hi There.

    Maybe not the response you were hoping for but..

    You will find in the policy wording that 120 days means you can't claim anything within the "Exclusion Period".

    The purpose of the EP is to preclude claims from policy holders who know or suspect that there is a good chance that they may be in a position of becoming unemployed.

    There will be all sorts of wording in your policy which will talk about you becoming at risk of unemployment or advanced warning of unemployment, so you will need to check the fine print - the devil is always in the detail.

    I took a Policy out in November 2010 with a 40 day EP period which effectively expired as at Jan 2011 so any redundancy issue now and I should be able to claim.

    There are various policies available and I looked for the shortest Exclusion Period I could find which was 40 days.

    Hope that helps.
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