Redundancy insurance

mickd27

I recently took out redundancy insurance which states a 60 day qualifying period from when you take out the insurance to when you are at risk of redundancy. I received a letter from my company stating that I am potentially at risk of redundancy. This was 55 days into when I took out the insurance policy. The policy states that they only require a letter confirming the date I’ve been made redundant which will be after the 60 day qualifying period. Does anyone think I can still make a claim for redundancy insurance if I get made redundant or have I taken out the policy too late?

Quentin

The whole idea is that there's no redundancy risk notification during the first 60 days after you take out cover.

dunstonh

Does anyone think I can still make a claim for redundancy insurance if I get made redundant or have I taken out the policy too late?

Probably too late but you can ask the insurer.

Also, its not just when you are notified. It is when you are aware that there is a risk of redundancies or a restructuring taking place.

What made you buy the policy in the first place?

mickd27

There was a sweep of redundancies in june but our whole department wasnt at risk and i was quite busy. Towards the end of the year the work has dried up so i took out the policy. Now it looks like its been too late. I'm up against 2 others for redundancy and they are picking one of three to be made redundant so just have to wait and see.