Family & Lifestyle

Does income protection insurance cover redundancy?

Income Protection Insurance isn’t just for unexpected illness or injury, it can also help if there are other reasons you can’t work.

You may already know that income protection insurnace can help with the cost of living if you’re unable to earn an income due to sickness or injury.

If there are people in your life who depend on your income for help with their living expenses, such as groceries, petrol, mortgage payments, school fees and other bills, income protection can help you and your family cover these payments.

Did you also know that income protection insurance can help if you are involuntarily made redundant from your job?

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Income protection can help absorb the shock

Being made redundant can be a shock and it may take a while to find a new job. Income protection insurance with involuntary redundancy cover can relieve the financial pressure and help you and your family maintain your lifestyle.

Help if you’re self-employed

Another benefit of  Involuntary Unemployment Cover is that it can help those who are self-employed. Involuntary Unemployment Cover can help small business owners and sole traders if they become insolvent as a result of business debts.

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