Can I take out 'redundancy insurance'???

FairyElephant_2

Hi,
The company where I work is currently subject to a takeover bid, which has been recommended to shareholders by the board - the vote is in a couple weeks time.

We have not actually been told that we will be made redundant if it goes through - but it looks very likely that they won't need our office at all, and they def. won't need all the staff, even if we were willing to relocate (which I cannnot resonably do, due to family commitments) so we think it is really on the cards that we will be 'out of the door' come Sept/Oct time.

My questions are - can I take out a 'redundancy insurance' policy now, even knowing the current situation? Would I have to declare the sitation to an insurer? Would anyone insure me, given the situation?

What do you think?

Thanks for any advice/ideas!

payless

Remember most providers have an exclusion period of 3 or even 6 months , so claims arising in that period are not met anyway.

I remember a discussion with a major provider for a similiar position, and they seemed prepared to accept a similiar situation as nothing announced about redundancies yet HOWEVER not willing to relocate a reasonable distance would however effect the claim- ( the application was never made , so don't know actual outcome)

Personally I would consider making an application - declaring fully at outset ( even if not asked directly) , and see if they accept your proposal - perhaps using one of the providers that offer a initial free period