Recently, people are becoming more aware of the fact that they need to hold the best redundancy insurance available. It is true that forecasts for unemployment have always been used for gauging future economic activity. New Zealand has a positive economic outlook in the coming future – which is coincidentally the best time to start an income protection redundancy insurance policy.
As per CEIC Data, unemployment rate forecasts of New Zealand highlight minuscule increases in the next five years. This period of sustainable job market is perfect to secure oneself from future market shocks. However, having a level of scepticism is useful when thinking about statistical forecasts. It is important to mention that volatility in job markets is usually sudden and sometimes unforeseen. Additionally, some workforce sectors are going to feel the impact of economic downturn harder than others. A disproportionate impact to certain sectors could arise due to technological advancements; reducing demand in the labour force. Unexpected redundancy hurts the most for people who are not prepared for such situations. To prepare for these scenarios, redundancy insurance is the perfect tool to protect yourself and your lifestyle.
Discourse on Unemployment Insurance in New Zealand
Recently, a report has been published on Unemployment Insurance by the Productivity Commission. In this NZ-focused report, two points are worth mentioning: one is that in the coming years – the rate of job displacement or redundancy due to technological change is expected to rise, which in turn will lead to a rise in involuntary redundancy; secondly, New Zealanders are more likely to lose their ability to meet financial commitments, such as mortgage payments, in case of job loss. These negative results exacerbate in the case of people with children.
Obviously, any form of redundancy (especially unexpected redundancy) is accompanied by a lot of stress and concern for the future. The period following the loss of a job is extremely difficult to manage. If someone does not have savings to cushion the impact of redundancy, the pressure to find a job rises considerably. It can create pressure to get any job, rather than one to fit an individual’s skills and career.
The Best Redundancy Insurance Provider
A lot of people see real benefits using time and tested insurance brokers like Ease Insurance to help select the right insurance company. Ease Insurance is well regarded as one of the best redundancy insurance providers in the country, as it has strong relationships with many major insurance companies. Taking advantage of competitive redundancy insurance facilities is an advantage for our customers – getting the most suitable coverage at the most competitive prices.
Ease Insurance – Flexible Redundancy Cover
Redundancy insurance can be integrated and combined with other personal risk policies, such as income protection redundancy insurance, sickness and redundancy cover, etc. Similarly, each provider’s offering caters to the needs of different types of customers – different options exist even within a redundancy insurance provider’s policies. These options include:
- Insurance plans with diverse rates & include different payment structures.
- Income protection in different situations such as sickness, accident or disability.
- Protection for periods from 6-months for redundancy, or more for disablement.
- Availability of different insurance providers lead to competitive pricing options.
- Options to include mortgage protection insurance to cover home loan payments in cases of redundancy.
Redundancy Insurance Comparison
Ease Insurance is able to quickly provide you with quotes from several insurance companies. Talk to us, and compare different plans and the relevant cost of such plans. Our experienced insurance advisors are able to provide customers with an unbiased understanding of their available options. Contact us & get a quote today at https://easeinsurance.co.nz/redundancy-insurance-get-quotes/.