Redundancy insurance

nightsky224 · 6 January 2018 at 11:56PM

My husband has unfortunately been made redundant. We do have redundancy insurance but worried that we won't meet the criteria.

In the t&cs it says that no benefit will be payable of you accept voluntary redundancy, resign or retire

He is being paid more than stat redundancy and has to sign a contract to state that he accepts the voluntary severance offer

So !!!!!!!g annoying, have a feeling we have waisted money on the insurance... am hoping I'm wrong, anyone been through similar or have advice?

[Deleted User] · 7 January 2018 at 7:14AM

nightsky224 wrote: »

My husband has unfortunately been made redundant. We do have redundancy insurance but worried that we won't meet the criteria.

In the t&cs it says that no benefit will be payable of you accept voluntary redundancy, resign or retire

He is being paid more than stat redundancy and has to sign a contract to state that he accepts the voluntary severance offer

So !!!!!!!g annoying, have a feeling we have waisted money on the insurance... am hoping I'm wrong, anyone been through similar or have advice?

If he’s accepted voluntary redundancy no it won’t pay out. If he hasn’t and the contract is wrongly worded he needs to have it corrected to claim.

Xbigman · 7 January 2018 at 8:37AM

Which is worth more, the potential insurance payout or the bit of extra redundancy money. Your husband is in the lucky position of being able to refuse voluntary redundancy and lose nothing. Don't knock it.
He needs to go back to his employers and tell them he can't sign anything because of the insurance position and take it from there.

Darren

nightsky224 · 7 January 2018 at 9:26AM

The redundancy is worth more and it's also been signed and sealed. By saying he has accepted voluntary severance pay is that classed as voluntary redundancy?

TELLIT01 · 7 January 2018 at 10:35AM

The document refers to voluntary severance so I suspect the insurance company will say that is voluntary redundancy and won't pay out. No help to you, but when redundancies were announced at one place I worked I made it clear that I was willing to go but would not put anything in writing, or sign anything which implied it was VR for that very reason.

Redundancy insurance

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