Critical Life Insurance through my work

SRRAE

I get critical life insurance through work.  The payment comes out every month from my wage.

Unfortunately I am in a situation where I may need it, however diagnosis can take up to a year to rule everything else out.

My company has just gone through another merger and there will be redundancies in the next coming months/years.  I am worried that this may happen before my diagnosis. 

Does anyone know if there is a way of continuing the same policy should I be made redundant from work?  Obviously i cant take out a new policy now.

Thanks

DullGreyGuy

Unfortunately this is one of the risks of relying on insurances via employment. 

You can speak to the insurer in question but some policies are only available for corporate clients and its likely anything you take now will be considered a new policy and so the current condition would be excluded as pre-existing. Similarly you could ask your employer about extending your cover etc post employment but again it's not always possible.

How does the payout compare to redundancy? I know with a prior client they allowed someone to withdraw their acceptance of voluntary redundancy after they were diagnosed of stage 4 cancer and went onto sick leave claiming on the group income protection policy