Secondment / Insurance Cover

GeordieRef

Hi all,

Just looking to see if anyone can offer any advice on whether it's worth me keeping insurance.

I took out redundancy insurance last November, and my company made redundancies in May this year. I was made redundant with a secondment in a different role until April 2018 and will be paid redundancy pay / classed as redundant by my employer at this time i.e. it is not a fixed term contract.

The issue I have is that the redundancy cover I have in place will need to be renewed in November - and I already know I am to be made redundant after this.

I don't directly want to speak to the insurers without knowing where I stand with regard to renewal and chance of claim being accepted next year.

Does anyone have any experience or knowledge of this matter?

Undervalued

GeordieRef wrote: »

Hi all,

Just looking to see if anyone can offer any advice on whether it's worth me keeping insurance.

I took out redundancy insurance last November, and my company made redundancies in May this year. I was made redundant with a secondment in a different role until April 2018 and will be paid redundancy pay / classed as redundant by my employer at this time i.e. it is not a fixed term contract.

The issue I have is that the redundancy cover I have in place will need to be renewed in November - and I already know I am to be made redundant after this.

I don't directly want to speak to the insurers without knowing where I stand with regard to renewal and chance of claim being accepted next year.

Does anyone have any experience or knowledge of this matter?

You may be better asking this question on the insurance board.

However, for what it is worth, my reaction would be that your concern would only be relevant if you were changing insurance companies. Is this not like medical (or pet) insurance where you only have to declare existing problems when your first take out cover and not when you renew? Otherwise everybody would have this problem on a yearly basis?