Redundancy Protection insurance which is otherwise called as ASU insurance covers those who met with accidents or sick or unemployed. This insurance policy serves as a protection for the policy holder to meet the financial challenges especially when they are unemployed. In other words it is a sort of security for those who are unemployed and it normally covers a period of one year. In other words, the policy holder gets the advantage for one year from the time of being unemployed. Ofcourse there are insurance providers who provide more time even up to a period of two years. If it is a case of longer period then definitely the premium rates will also be higher.
How is this redundancy protection insurance useful? Well, for a person who is unemployed, it is very difficult for him to manage with his monthly budget as his income stops suddenly. But these days even those who are employed sometimes get into a real tight situation financially when it comes to paying of bills. To prevent such unpleasant situations, you have this redundancy protection insurance. Also when one becomes jobless, his income also stops suddenly and needs time to search for another job. In the meantime he can apply for this insurance which is not only insurance but also a profitable payment scheme which takes care of the insurer each month. It in a way it helps the insurer to meet with his day to day expenses inspite of him being jobless.
But most people think that it is basically good for only those who have the fear of being chucked out of work. It is not so. Even a self employed person can take up this redundancy protection insurance as it is not only for those unemployed but also for the ones who are unable to work due to sickness or with wounds or met with any industrial accident etc.
If you are a person who always thinks ahead, then you need to think of availing Redundancy protection insurance on this day itself. What you need to do is either contact your insurance provider or search in the internet for better offers. You need to furnish all your details to the insurer. Remember these types of policies are really life savers at times of stress. Once you get a slightest hint of redundancy you will not get the coverage, so you need to make a wise decision. Contacting a broker is also a wise decision as he will be able to give you the best deal and always stay away from single premium protection. Gone are the days when you had to be worried when without work as these days there are a lot of insurances to save you from such situations.
How is this redundancy protection insurance useful? Well, for a person who is unemployed, it is very difficult for him to manage with his monthly budget as his income stops suddenly. But these days even those who are employed sometimes get into a real tight situation financially when it comes to paying of bills. To prevent such unpleasant situations, you have this redundancy protection insurance. Also when one becomes jobless, his income also stops suddenly and needs time to search for another job. In the meantime he can apply for this insurance which is not only insurance but also a profitable payment scheme which takes care of the insurer each month. It in a way it helps the insurer to meet with his day to day expenses inspite of him being jobless.
But most people think that it is basically good for only those who have the fear of being chucked out of work. It is not so. Even a self employed person can take up this redundancy protection insurance as it is not only for those unemployed but also for the ones who are unable to work due to sickness or with wounds or met with any industrial accident etc.
If you are a person who always thinks ahead, then you need to think of availing Redundancy protection insurance on this day itself. What you need to do is either contact your insurance provider or search in the internet for better offers. You need to furnish all your details to the insurer. Remember these types of policies are really life savers at times of stress. Once you get a slightest hint of redundancy you will not get the coverage, so you need to make a wise decision. Contacting a broker is also a wise decision as he will be able to give you the best deal and always stay away from single premium protection. Gone are the days when you had to be worried when without work as these days there are a lot of insurances to save you from such situations.
