Pending Redundancy

bobbyjg

Hi all. 

First time here, the whole company I work for has just been put in to collective consultation with any individual consultations to be completed by the end of the year. 

Looking at it I believe it is likely that I will be one that will get made redundant - luckily under enhanced terms. 

Due to the enhanced terms I have no desire to start to claim any benefits, but I do have an unemployment protection policy that would cover my mortgage that I have been paying that I would like to benefit from. 

This policy renews in July and I have been a continuous customer of it for 6 years. 

I have 2 questions:

1.Does the fact that it renews when I am in a consultation period put me at any risk should I claim later in the year on the renewed policy?

2.What does it look like in regards to proving unemployment on the policy when I cannot get any benefits such as UC and JSA (as my capital is over £16k)?

Obviously I don’t want to rock the boat with the insurance provider just yet

bobbyjg

Just to add I would be looking for a new job, just I don’t envisage it being a speedy process having been with my currently employer for nearly 20 years. I am also early 40’s

sharpe106

Who is the policy with and what does it says? All policies will have different terms and conditions attached to them. What you might be able to do on one policy you can't on another. 

bobbyjg

It’s an Assurity policy - MY02. For a simpleton like me some conflicting terms. Only have a paper copy so will get relevant parts up when I get chance. 

sharpe106

A lot of policy have terms that are hard to understand an quite often conflicting terms to.