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Unemployment Cover
The loss of income as a result of involuntary unemployment (redundancy) can have a massive impact on your finances, which directly impacts upon your lifestyle.
Your mortgage will still need to be paid, as will other family household outgoings such as credit cards, loans, council tax, utility bills, etc.
Whereas Income Protection can provide a long-term solution and financial support, Unemployment Cover typically will provide a short-term solution (12 or 24 months of payments) giving you reasonable time to source alternative employment. Also, such a policy will help prevent the build up of debts and missed payments on financial commitments.
There are many providers of Short-Term Income Protection and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at: www.moneyadviceservice.org.uk.
