Redundancy Cover - Financial protection against redundancy & unemployment

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Redundancy Cover will pay you a tax free monthly income for 1-2 years (dependent upon your policy & insurance provider) should you find yourself being made redundant or unemployed through no fault of your own.

Also known as ASU cover (Accident, Disability & Unemployment Insurance), it is usually linked directly to your Mortgage (Mortgage Payment Protection), Loans (Loan Payment Protection) or Income (Income Protection Insurance).
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Please note that Redundancy Cover / Unemployment Insurance is pretty much the same as MPPI (Mortgage Payment Protection Insurance) but the difference is that MPPI is directly linked to your mortgage unlike standard redundancy cover.

If you are looking for a longer term income insurance policy then Income Protection Insurance will cover you against Injury or Disability and will pay you a monthly income until you are capable of returning to work or until you reach your retirement age ,which ever comes first (up to a maximum of 10 years).
However, please note that income protection differs from Redundancy Cover in that it will usually pay between 50%-65% of your gross monthly income but it will not cover you against redundancy or unemployment.

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