Anyone considered unemployment insurance in case of Brexit redundancy

illumintai

I would like some views/experience getting redundancy insurance.

Also, I got a quote with this in the t&s which seems a bit bizarre to me.. https://i.imgur.com/kuwBzGy.png

Can anyone tell me what this means? I don't own a property and clearly noted this when I asked for a quote.

In addition there is no mention of any "contractual period" of the insurance. I am not familiar with this sort of insurances I assumed it would be like a phone contract/broadband/utilities etc. Does it mean that I can cancel after a few months?

forgotmyname

I read it as..

That section wont apply to you because you cannot claim for a property.

Just make sure you read the documents your signing, dont just sign away and hope its all correct.

tacpot12

I wouldn't consider this insurance just because of Brexit, it is too important NOT to have income protection insurance; you needed it whether we are inside or outside the EU!

The clause you have highlighted is odd, and doesn't make sense in the context of the insurance you are buying. I would strongly suggest that you ask the insurance company what it means and get this in writing if you think you are still entitled to take out this particular insurance policy.

stator

If the insurer offer insurance just for mortgage payments, this clause means that you can only take out this insurance for the mortgage on the house that you own and occupy, ie you can't take it out on a property you let out.



It's a good idea to have some protection if you don't have enough savings to cover you for 6 months or more after losing your job.



I have a policy, even though my job shouldn't be affected by Brexit, I simply don't have enough savings.

illumintai

stator wrote: »

If the insurer offer insurance just for mortgage payments, this clause means that you can only take out this insurance for the mortgage on the house that you own and occupy, ie you can't take it out on a property you let out.



It's a good idea to have some protection if you don't have enough savings to cover you for 6 months or more after losing your job.



I have a policy, even though my job shouldn't be affected by Brexit, I simply don't have enough savings.

Thanks - Just a quick question. There is no mention of contract period of some sort with this insurance. Is that standard?

stator

Not sure what you mean. The terms should be explained in any insurance policy