... to secure your income.
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Our redundancy insurance policies have been specially designed to protect your finances from the fallout of redundancy, which can otherwise carve quite the significant hole in your pocket – and your sense of mental wellbeing, too. By guarding your income – and by extension, your bills, housing situation, and lifestyle – we can help you find the new job that’s Best for you; not for convenience.
So what exactly is Redundancy Protection Insurance?
Don’t worry, we get this question all the time. That’s why we’re here to break it down for you.
Like our unemployment protection insurance, a redundancy insurance policy exists to protect you from the pitfalls of redundancy. Acting kind of like a financial safety net, a redundancy insurance policy is ready to catch you when you lose your job – and your footing. It keeps you safe even in a muddle of unknowns, which is probably the time that you need to feel safe the most. After the rash of redundancies in the last few years, we’ve all thought about what might happen if we lost our jobs – and we’ve all probably been a little scared about it, too.
With Best Insurance’s redundancy policies, you can put those fears (and yourself!) to bed at last, because your biggest concerns in the worst-case scenario are already taken care of. If you live and work in the UK and spend more than 16 hours a week employed, you can guard your bank account from the holes redundancy can poke in it by taking out a policy. The benefit amount in any given policy is linked to how much you earn, meaning that you’ll be covered for a percentage of your monthly or weekly income.
Too technical-sounding? That’s alright! Really, what it comes down to is that if you were made unemployed, you’d get a percentage of your salary – usually 65% – paid to you either every week or every month. That money is yours as soon as you’ve got it, so you can do whatever you like with it—though we’d advise against splashing out on a fancy new car. Maybe you want to cover your utilities, or pay your rent, or pay back a loan. If you were unemployed and didn’t have a policy, everyday costs like these might be completely impossible for you to balance – and that’s where we come in.
By covering all these things for you, you’ll be free to look for the Best possible job for you and put the fears of the past behind you.
Why Redundancy Protection Insurance?
Redundancy is one of those nasty things in life that we all like to think of as happening to other people, not to us, but if the last few years have taught us anything, it’s that it’s more likely than we think. In early 2023, redundancy numbers rose to their highest since the pandemic, and though they’ve dropped down again since, no one can predict redundancy trends with perfect accuracy – though it’d be nice if they could, wouldn’t it?
What would you do if you were made redundant tomorrow? Almost a third of Brits have no savings at all, according to the FCA, which means that almost a third of people in the UK would be forced to borrow money from friends and family or take out a loan if they lost their job unexpectedly.
But if we’re all willing to insure our phones, or our homes, or our holidays and pets, then why wouldn’t we insure our income, which pays for all these things and more?
With redundancy insurance, you can rely on tax-free monthly payments to replace your income until you get back on your feet. That means that you can, say, pay your electric bill, or buy your groceries for the month, or keep a roof over your head even after losing your job. Sorting out the process of first updating your CV, then finding a job that suits your needs and experience, then going through rounds of interviews is difficult enough without having to worry about all these other things, too.
We’re here to protect your peace – and give you the Best shot at getting things back on track after it seems they’ve gone off the rails. So if you’re interested in redundancy insurance and how it can help you, give us a call today.
Why choose Best Insurance for your Redundancy Protection needs?
Here at Best Insurance, we really pride ourselves on doing the very Best for all our customers by taking care of all the hard work for you, so you can focus on the things that we all know matter most; your lifestyle, your loved ones, and your future. The relationships we’ve built up with insurers across the market over the years guarantee that we can offer you a huge range of policies to choose from, and our years of experience mean that we can give you some of the Best advice about what choices are most fitting for you, your needs, and your circumstances.
Whether you’re looking to buy a new policy, renew an existing one, or even make a claim on one, you can trust in Best Insurance to look out for your Best interests.
And if that’s not enough to convince you, we have…
- Some of the best customer service in the UK, with a 4.8/5-star rating according to our reviews
- Years of experience in the redundancy protection insurance market under our belts, which means that not only do we know what we’re talking about, but also that we’ve built up…
- Phenomenal relationships with all the best insurers across the market, so we can find the product that’s right for you
- Experience in underwriting
- Most competitive rates for redundancy protection, designed to work for any budget – whether low or high