Compare our best Income protection insurance for redundancy

Can you get redundancy insurance?

Not all income protection policies include redundancy insurance. However, UK insurers in this comparison do. Find the cover you need for the cheapest price by completing our quotes form.

When you purchase redundancy insurance, UK providers will often include clauses such as an exclusion period. Make sure to compare redundancy protection insurance from across the market. This way you can ensure you get the best price for your redundancy cover, while also getting the best level of protection.

What does redundancy cover include?

Each insurer lets you choose an income, but with the following restrictions:

The maximum benefit can affect the percentage of cover you get, for example:

If you want to cover 60% of a £30,000 annual income (£18,000), but an insurer has a maximum benefit of £15,000, you can only cover 50% of your income.

Here is more information on income protection

What else is covered?

Most policies that include redundancy insurance also pay out if:

Whichever reason you have to claim on an income protection insurance policy, you could get an income for as long as you need it, up to the end of your policy.

Here is help deciding if you need income protection

When will it pay out?

This depends on what you choose when you apply for a policy. You usually get two options:

If you choose a deferral period, your premiums are likely to be cheaper. Only do this if you can afford to replace your income until your policy starts paying out.

What cover do you need?

To decide what cover you need, think about:

Most insurers let you specify an amount or choose a percentage of your existing annual income, for example, 65% of your yearly salary.

Most insurers have an upper limit on the amount you can cover, for example, 65% of your income but capped at £40,000.

To help you decide how much income protection to choose, write a budget to work out which outgoings you need to cover.