What is Redundancy Protection Insurance Cover?

What Is Redundancy Cover?

Redundancy protection pays a lump sum benefit for a period of time (usually three months) whilst you search for a new job.

Many companies restrict the amount available to your minimum mortgage repayment amount or allow you to select up to a maximum of $5,000 to insure yourself for.

Who Offers Redundancy Cover?

There aren’t very many companies in Australia who will offer any sort of Redundancy Protection Insurance at this point in time.

Lifebroker is able to offer redundancy cover to individuals who have a loan through the Commonwealth Bank or the ANZ Bank, as part of an income protection policy that also covers for accident and sickness.

Many companies, as part of an accident and sickness income protection policy, will waive the premiums whilst you are unable to work due to redundancy so you don’t have to give up your insurance.

> Get a Redundancy Insurance Quote

What would you like to do next?

We're ready to help
Logo