Redundancy Protection Insurance (not mortgage!)

[edwardm]

Hi everyone,

Can anyone tell me if its possible to take out Redundancy Protection Insurance, but not for a mortgage, just for general income,

Alot of companies out there are offering protection for mortgage, sickness etc, but can find any for redundancy.

Thanks..

 

[Robmurf]

only product out there that covers redundancy is related to your mortgage and the monthly repayments. There is also accident and illness benefit added into it also.

regarding just an insurance product for covering redundancy there is no company out there offering this....nor will there be as they wouldnt make any money in these times....to risky

you can protect your income until you pick a retirement age, and this pays out a weekly payment to you if you cant work due to illness or accident....until retirement age selected....if serious enough!.

 

[laneybaby555]

only product out there that covers redundancy is related to your mortgage and the monthly repayments. There is also accident and illness benefit added into it also.

regarding just an insurance product for covering redundancy there is no company out there offering this....nor will there be as they wouldnt make any money in these times....to risky

you can protect your income until you pick a retirement age, and this pays out a weekly payment to you if you cant work due to illness or accident....until retirement age selected....if serious enough!.

Not true Robmurf,

I have redundancy protection insurance with IBA (Irish Brokers Association). It can only be gotten through a broker so I suggest edwardm check this route. It is in no way linked to my mortgage as I have seperate cover for that. Be warned it is getting very expensive now. My cover has jumped by approx 40 squid this week. You can cover up to 70% of your net monthly income, if my memory serves me right . As far as Im aware its still being offered. You wont get it down the normal channels as Im pretty sure you have to go through a member of the IBA. Expensive business so I would advise only going down this route if you can really afford to or if there's a pretty decent chance your job will be in jeopardy by the end of the year. But then some people cant put a price on peace of mind. Im starting to think I can with this hike!