1. Join Now

    AVForums.com uses cookies. By continuing to use this site, you are agreeing to our use of cookies. Learn More.

Redundancy Insurance

Discussion in 'General Chat' started by Dr Diversity, Jul 21, 2005.

  1. Dr Diversity

    Dr Diversity
    Guest

    Products Owned:
    0
    Products Wanted:
    0
    Ratings:
    +0
    Who provides the best cover?

    I have an old policy with the Pru and am looking to renew. Investigated a claim a couple of years back (did not need it in the end) but I would have had to have no income in order to claim.

    Here's the situation: One main job pays the bills, second job doing a bit of teaching for one evening term time only, third job retained as a consultant for a fixed number of hours per month. I need to claim if the main job goes belly up, Pru would require me to lose all three jobs!

    Suggestions welcome
     
  2. Nick_UK

    Nick_UK
    Banned

    Joined:
    Nov 13, 2004
    Messages:
    9,748
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    103
    Ratings:
    +270
    I seem to recall that redundancy insurance only covers a limited period. To be honest, I wouldn't be scared of short-term redundancy, and that's the only thing that most companies want to cover.
     
  3. Mep

    Mep
    Well-known Member

    Joined:
    Dec 25, 2004
    Messages:
    9,532
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    106
    Ratings:
    +468
    and whenever I have looked at this in the past you need to have registered yourself unemployed to claim which means your other jobs would have to go as well. You can insure pretty much anything though and I'm suer that if you went to a Broker and wanted to insure loss of main income you could do so, at a cost.
     
  4. Dr Diversity

    Dr Diversity
    Guest

    Products Owned:
    0
    Products Wanted:
    0
    Ratings:
    +0
    That is my problem, I think a broker is my next port of call...
     
  5. Rock Da Bass

    Rock Da Bass
    Well-known Member

    Joined:
    Jan 27, 2002
    Messages:
    5,349
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    136
    Location:
    EU
    Ratings:
    +618
    Rendundancy insurance policies are usually full of 'ifs' and 'buts' and generally only kick in after you've been unemployed for X amount of time and last for only Y amount of time.

    TBH I'd recommend saving the amount you'd pay in premiums yourself.

    RDB :)
     
  6. mrmcdean

    mrmcdean
    Active Member

    Joined:
    Jun 25, 2003
    Messages:
    733
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    31
    Ratings:
    +27
    Me & the wife are covered by Liverpool Victoria - im affraid I have no idea if they'll offer the sort of cover you're looking for but they were about the best when we were looking a few months ago so it may be worth a quick enquiry.
     
  7. Nick_UK

    Nick_UK
    Banned

    Joined:
    Nov 13, 2004
    Messages:
    9,748
    Products Owned:
    0
    Products Wanted:
    0
    Trophy Points:
    103
    Ratings:
    +270
    Good idea..... stick the premiums into a savings account :smashin:
     

Share This Page

Loading...