How can we help you with unemployment protection insurance today?
Key points
- Redundancy insurance is a form of income protection that can offer payouts if you lose your job or find yourself unable to work
- When you can claim and how much cover you have will depend on your policy and you should look out for exclusions
- Consider state benefits plus other income protection, critical illness and life insurance options before committing
We've partnered with ActiveQuote[1] to compare unemployment protection insurance policies and provide quotes from a range of leading UK insurers.
ActiveQuote also offers free, independent advice from its team of product specialists.
Unemployment insurance, also known as redundancy insurance, is a short-term income protection policy providing cover for up to 12 months should you be unable to work due to involuntary redundancy.
It can be used to protect things such as your income, mortgage payments or loan and credit card repayments.
Some income protection policies can offer much longer-term cover than that - our comparison software helps you look at these options alongside shorter-term options and to filter the available products according to your own needs and desires.
You choose how much you receive as a monthly benefit, bearing in mind that you can typically protect up to 70% of your gross annual income (payouts will normally be tax free).
Need more information?
Some insurers also offer the option of protecting the value of any employment benefits such as a company car or private health insurance.
Such benefits may also be known as benefits in kind, or P11D benefits.
Consider how much of that you want to insure as the amount of cover you choose will be reflected in your monthly premiums.
Our comparison software will ask you to enter your personal details, gross annual salary and desired level of cover.
You'll also be asked details about your current employment situation such as your occupation, how many hours you work, whether you're a temporary or permanent employee, and how long you've been in continuous employment.
On the results page you can compare each policy in an easy-to-use table that displays details of the monthly benefit, policy and benefit term and waiting period, plus background information on each product provider.
By using the specific filter options you can compare policies that cover you for unemployment insurance, or income protection insurance policies that cover accident and sickness as well as unemployment. The key features document of each policy is also available.
Subject to your circumstances, you'll either have the opportunity to purchase online or be given a number to speak to the insurance provider about your chosen product.
Did you know...?
- Some income protection insurance policies can cover accident and sickness as well as unemployment
- A claim may be invalidated if your unemployment is the result of industrial action
- A claim may be turned down if you're not actively seeking new work
For further information you can talk to one of ActiveQuote's team of product specialists for free, impartial advice that can help you find the right policy suited to your budget and needs.
If you'd rather do your own research, you could try our income protection guides, including frequently asked questions.
These can help you with the basics, such as whether you need redundancy insurance, how much premiums cost, how long you can claim unemployment insurance for, and how much a policy will pay out a month.
There's plenty to read about product areas such as debt repayments, wait periods and policy lengths, and you can find out more about typical exclusions, plus other things you should look out for before making your decision. Note that if you're receiving income protection payouts you may not be eligible for certain government benefits.