The small print contained within most Redundancy Insurance and Mortgage Payment Protection contracts mean those with more than one employment may be excluded from claiming should they lose one of those employments as a result of redundancy.
This is as a result of the requirement to be in receipt of Jobseeker’s Allowance or National Insurance Credits on a continuing basis in order for your claim to qualify. As you are still employed (in one of your jobs) you may not qualify for this benefit and in turn your claim will be rejected.
To add to its complexity Redundancy Insurance typically covers you in employment where you work 16 hours a week or more. So for example if you have one job where you do 30 hours a week and the other 10 only the you main job would be considered for claim and the other will not.
There are providers that will waive the Jobseeker’s Allowance or National Insurance Credits condition so you need to read the terms of the policy to ensure you get what you need.
QuoteMe4.co.uk the income protection specialist, compare redundancy insurance visit our website www.quoteme4.co.uk
Or Call QuoteMe4 on 0800 0226571 for assistance.