Payment Protection
Keeps loan repayments moving if illness, injury or redundancy stops your income.
Read more →Loan & Credit Protection
Involuntary Unemployment
Covers repayments for a period after redundancy or involuntary job loss.
What this cover does
Unemployment cover pays a set number of monthly instalments after involuntary job loss. It carries the strictest conditions in this family of products: an initial exclusion period, a waiting period after the claim, and a firm requirement that the loss was genuinely involuntary.
Typically included
- Monthly repayments for a stated maximum period
- Cover following redundancy or involuntary termination
- Benefit paid to the lender or to you, depending on the plan
- Repeat claims after a requalification period
Common add-ons
- Combined accident, sickness and unemployment plans
- Longer benefit periods
- Self-employed versions covering business closure
- Shorter initial exclusion periods
Questions
What people ask about unemployment
What does involuntary mean here?
Redundancy or dismissal through no fault of your own. Resignation, dismissal for misconduct, the end of a contract you knew was fixed, and voluntary redundancy are almost always excluded.
Is there a qualifying period?
Yes — commonly 60 to 120 days from inception before any claim is admissible, plus a waiting period after the job loss itself. Cover taken out when redundancy is already announced will not respond.
Often taken together
Related cover
Mortgage Protection
Clears or covers the mortgage if you die, become critically ill or cannot work.
Read more →
GAP Insurance
Pays the shortfall between what the insurer settles and what you still owe.
Read more →Quote Involuntary Unemployment
Tell us what you already have and we will show you where this fits — or tell you plainly that you do not need it.