redundancy Insurance and complicated situation

Ronan80

Hello, hoping to get some advise from the good people on here.

I have redundancy insurance and have been paying for it for 5 years now and never needed to claim but I recently found out that my job is being made redundant so am working my notice period now and also trailing a new role at the same company which is not going well at all. my employer tells me that if the new job doesn't work out then I can take redundancy option.

 My insurance policy states that Exclusions are : 'You are Working' or ' You are not registered as unemployed with the appropriate government agency and /or do not have a valid Jobseeker’s agreement or 'You voluntarily leave your employment or retire'.

Based on what I have said above I have two questions:
1- If I continue to not like the alternative employment and take the redundancy will the insurance still pay out after the waiting period? 

2- Last year I setup a Ltd company and am a director with a friend to try and make a business but its not gone well, there are no profits and we have not been paid. I am not doing any work for the company at the moment and its likely will make it dormant. Does this fact affect the redundancy insurance? would it be best to dissolve the company now or would making it dormant suffice? Or is being a director ok so long as not working?

Cheers

EnPointe

The  new role is presumably a 'trial' to see if you  wish to be re-deployed and if  the  new role is  'suitable alternative employment' ,  if   the trial does not work out    the redundancy  will continue  unless you  take  on the new role and then  subsequently  resign ,  this is something you need advice from your Trades Union on or  from any employment lawyer you have consulted as part of the  redundancy  process

Ronan80

EnPointe said:

The  new role is presumably a 'trial' to see if you  wish to be re-deployed and if  the  new role is  'suitable alternative employment' ,  if   the trial does not work out    the redundancy  will continue  unless you  take  on the new role and then  subsequently  resign ,  this is something you need advice from your Trades Union on or  from any employment lawyer you have consulted as part of the  redundancy  process

Thanks EnPointe, yes the trial is not going well so its looking like the redundancy will continue. I just wondered would this affect the redundancy insurance if I have turned down the alternative employment? There is no mention of this type of exclusion in the policy document. Also would being a director of a company where I do not do any work or get paid risk loosing the insurance? thanks

YBR

It all depends on the precise wording....
For the trial period case, I think you just say that you were made redundant with no appropriate alternative role in the company. Don't need to say any more, surely.