Redundancy Insurance

BarolearyBaroleary Forumite
1 Post
MoneySaving Newbie
hi

I have held Redundancy insurance for 13 years though a policy which i have always paid monthly.

Out of the Blue I have had a letter telling me that the policy wont be renewed in sept- it will be cancelled.

however the provider is still taking their fee  and will do so until then.

I have just moved job and so believe i wont face the prospect of redundancy at present (for which i am thankful) , am i better off cancelling now and saving  3 months cover?

have i just wasted 13 years paying into this policy which the supplier has ceased? have I any other redress at all?

Replies

  • OzzigOzzig Forumite
    29 Posts
    10 Posts Name Dropper
    Baroleary said:
    hi

    I have held Redundancy insurance for 13 years though a policy which i have always paid monthly.

    Out of the Blue I have had a letter telling me that the policy wont be renewed in sept- it will be cancelled.

    however the provider is still taking their fee  and will do so until then.

    I have just moved job and so believe i wont face the prospect of redundancy at present (for which i am thankful) , am i better off cancelling now and saving  3 months cover?

    have i just wasted 13 years paying into this policy which the supplier has ceased? have I any other redress at all?
    Presumably, if you'd needed to claim any time over the last 13 years they'd have covered you. So they've done their bit.

    Personally, I'd cancel and save the last 3 months of premiums.



  • lincroft1710lincroft1710 Forumite
    15.8K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    If you haven't already done so, you need to check the terms and conditions of your policy to see if they allow a pre-renewal cancellation
    If you are querying your Council Tax band would you please state whether you are in England, Scotland or Wales
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