If having had your fill of price increases on your unemployment redundancy cover you may be considering switching provider.
The main obstacle being that all policies have an initial exclusion where your policy is not active until after this date. The last thing you need is to switch to another provider and have a gap in protection where you would be unable to claim from either policy should you be unlucky and get the boot.
Choosing a provider with a short initial exclusion will reduce the time you need to run two policies at the same time with overlapping cover until the new policy is past the initial exclusion period. This means for a short time you will be paying for two policies, which kind of defeats the exercise which was to reduce your monthly cost.
To reduce the time you are paying for both plans consider this. Most policies are paid monthly by direct debit instead of calling the provider you are binning you simply cancel the direct debit. This will give you a period of time when you have cover but not paying for it as all providers allow for the fact we maybe switching bank etc… so cover will typically continue for another 30 days after missing the last payment. Which is better than you calling the company to tell to stop your policy as this will be immediate.
As a result a new provider offering a 90 day initial exclusion will mean that your unemployment cover needs to be overlapped for 90 days but you need only make two payments on your old policy and not three making the switch less painful to your pocket.
Apply with QuoteMe4 and we will give you 1 month free once you have made your 12 monthly payment.
Tags: Payment Protection Insurance, Permenant Health Insurance, Redundancy insurance, Unemployment insurance