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.
The world of Redundancy Protection Insurance can be confusing to navigate. But it’s essential that you do it right – your survival and wellbeing could well depend on it.
That’s what happened to Jeremy Walton. The company he’d been with for nearly a decade restructured three years ago. While they were appreciative of his contribution, they saw no way to bring his role into the new business structure. This was completely out of the blue and hit hard. Thankfully Jeremy had had the foresight to take out a Redundancy Protection Insurance policy a few years before this. He and wife Nicole discussed where to from there and made some minor adjustments to their lifestyle. Their relief was huge knowing their redundancy insurance cover maintained their mortgage repayments. Their bills were also covered for the 6 months that it took Jeremy to find another role that he felt was right for him.