So, it's all happening again here, a year after the last round. I'm not in it yet, but something tells me that they'll come calling at the door of my practice group pretty soon.

So, what's out there that actually works?

Thanks

Tom

whatever you get check the small print, some don't pay out if your get a redundancy payout, and a lot won't pay out if you are made redundant within 3 months of taking the policy out.

Best of luck

I wouldn't bother as there's a good chance they won't pay out as richc says.
Good luck.

richc – that's my concern. So many of them are essentially not worth the paper they're written on, which is why I need to find something that would actually pay out.

I would suspect in the current economic climate, you won't find such a policy. Anyone taking out a policy at the moment looks like someone scared of loosing their job, therefore a massive insurance liability.
BTW Best of luck for the future!

get yourself a job in the jobcentre it seems to have a increase in customers of late 🙁

best of luck to you

IanMunro – this is the problem I perceive. I guess I'm in a perpetual state of fearing for my job (because there really aren't any comparable alternatives).

We cfould survive on Mrs North's salary, save for the mortgage. That's what I really need to cover.

i did a fair bit of research and the Post office income protection seemed about the best. i didn't really look into the redundancy side of it though as I am self employed

look at it as an enforced oppertunity, not something purely negative.
or are you one of those weirdos who LOVES thier job?

No, I hate my job. But I also like being in paid employment more. I could, I'm sure, get used to earning less, but a radical shift from current salary (not great in my profession, but not bad in itself) isn't wholly feasible (though could be achieved through time and planning).

EDIT – cheers MMW.

Look at income protection insurance rather than redundancy insurance and read the small print very carefully!

I reckon lots of people love their job Olly 🙂

This is the reality as I've just been through this.

I got the vibe that redundancy was around the corner and Post Office Lifestyle was the best insurance at the time (£40 per month, with £1000 per month pay out for 12 months).

I took out the policy and it said in the small print that you must have been in employment for 60 days from the start date of the policy.

Fortunately I qualified although only just!

There is a 1 month delay before payment but they did honour the policy.

The pain is that when you sign on (usually every 2 weeks) you must make a separate appointment to get your ABI-1 forms filled out and signed for at the job centre, however, you don't send the form off until you've done this twice as it's a monthly payment – if you get this wrong it's a real hassle. They'll also want to see evidence of you trying to get work too.

I had £500 for my mortgage and £1000 protection (for 12 months) plus Job Seekers Allowance (only for 6 months) in the end which was really helpful.

So my advice is go for the Post Office option ASAP (I think it's now £60 per month) and hope that you're not made redundant before the set qualifying time.

Any questions please contact me.

steveh – that's possibly what I'm after. I ought to have paid closer attention to such matters (and putting some cash aside for such rainy days)….