I took out income protection insurance from payment shield in April against being made redundant/losing my job involuntary. After a few months my employers started stupid performance review and resulted in me signing a compromise agreement early August to walk away with a payoff. I was suggestively told that if I didn’t they’d try hook or crook to get rid so I took the money and today left the business with 2.5 yrs service as a salesman.

My 120 excess period is due up next week and I can claim on my policy. I’m not expecting Payment Shield in any way to roll over and let me tickle their belly but I was wondering if anyone on here has made a claim. My policy costs £85 a month and I get £1500 in return, I’m expecting them making me jump through hoops and will make a meal of the compromise agreement as it was ‘by mutual agreement’ but I in no way volunteered to lose my job!

If you give me a call tomorrow (website with contact details in profile) I’ll have a look for you and see what the best way forward is…no cost, just pass the favor on 🙂

cheers matey!! 8)

Was in pretty much the same position as you at the start of last year with Payment Shield – had been paying for “cover” for four years, when it was explained to me what was involved in actually claiming, job seeking plans, constant phone calls enquiring about what I was doing to get a job etc I thought it was more hassle than it was worth. If you think it is a nice oppurtunity to get the bills paid and go cycling it ain’t. Sorry to pee on your chips.

Pretty sure if you take voluntary redundancy then they won’t pay up.

Pretty sure if you take voluntary redundancy then they won’t pay up.

I didn’t, they squeezed me out because they knew if they made me redundant my counterpart who works the same patch would have to be included in the redundancy review and that takes time and money and as soon as I’m gone they would have him cover my accounts, which is illegal. You have to make the position redundant not the person.

So they went for the option that costs a little bit more but exonerates them from any liability of me suing them for unfair dismissal etc.

As part of the compromise agreement they pay for me to see a solicitor of my choice to review the agreement and the solicitor said what they were doing was wholly illegal but it was my choice wether to take the money now or fight it out over a long drawn out tribunal…..