Employment shouldn’t be a roller coaster experience. You should be allowed to do your job, spend your monthly income on what matters to you and enjoy the time off with loved ones. Sadly, life in employment isn’t always this plain sailing. Here at Avail Mortgages, we know this, which is why we offer comprehensive unemployment cover packages that will be there when your former employer isn’t.
We have access to leading insurance companies such as Royal London, Zurich and Aviva. And, our expert brokers are on hand to help you find the redundancy cover policy to suit you and your annual income. To learn more about our redundancy cover and to find out more about your quote, please do not hesitate to get in touch with the team here at Avail Mortgages online or by phone on 01484 556 245. We help people with our insurance products across a range of places in Leeds, Huddersfield, Bradford, York and Harrogate.
What Is Redundancy Cover?
Redundancy cover, also known as redundancy insurance or unemployment insurance, is a type of income protection that pays out to you if you happen to lose your job. People take out redundancy cover in order to protect essential things in their life such as mortgage repayments and living costs.
In today’s world of work, no job is for life nor is it completely secure, unfortunately. Redundancy cover and other forms of income protection protect you if you work more than 16 hours a week and are unable to save as thoroughly as you like.
How Does Redundancy Cover Work?
People who have income protection such as redundancy cover are paid through a tax-free monthly income after they have been made redundant. This starts after a predetermined waiting period. One important thing to remember about how redundancy cover works is that it cannot be applied for if you know redundancy is about to happen. Redundancy cover works on a ‘What if’ basis.
Get In Touch
For more information about redundancy cover, income protection or any other type of insurance policy, be sure to get in touch with the experts here at Avail Mortgages on 01484 556 245. If you’re based in Huddersfield, Sheffield, Leeds, Bradford, Harrogate and York, then we’re the perfect company to help you find your redundancy insurance policy.