For July to September 2012 the number of unemployed people in the UK was 2.51 million. (Source: Office for National Statistics, Labour Market Statistics Nov 2012.)
How it Works
Redundancy protection policies (often known as ASU or MPPI) can also cover you for accident and sickness, normally for up to 12 months. All new policies will have a “qualification period” where you will not be covered, this can be anything from 30 days to four months.
Once you have passed the qualification period you will be covered and should you be made redundant you would normally need to be out of work for 30 days before you will be eligible to claim on the plan. You must register as unemployed and be actively seeking work to be eligible.
For further information and advice or to arrange a consultation please contact us.