Redundancy Insurance in New Zealand
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Redundancy Insurance, Redundancy Cover, or Loss of Employment Insurance, Salary Insurance or Wage Insurance it’s all the same and we have specialised in Redundancy Insurance since its was first offered in New Zealand. We will find a solution to suit your budget and your needs
Ease Insurance Brokers are professional qualified insurance advisors
We have arranged Redundancy Insurance for hundreds of people over the years
Many of our clients have claimed on their Redundancy Insurance which has helped them through what could have been a very tough financial time, so we can confirm that Redundancy Insurance does pay out when you claim
Your redundancy insurance will be placed with one of the leading redundancy insurance companies in NZ.
Our friendly qualified insurance advisers will give you free advice on Redundancy Cover , explain how it all works and work out the best affordable solution for you.
Get your redundancy insurance quotes now
How does Redundancy Insurance Work ?
- Redundancy Insurance pays you a monthly income when you get made Redundant from your job
- You will start getting paid 30 days after your final day on the job
- You will be paid redundancy insurance for up to 6 months while you are looking for another job
- The amount paid to you is usually non taxable and can be set at 45% of your income
- Alternatively the amount can be enough to cover your total monthly mortgage payments
- There is an initial stand down period where you cannot claim on the policy for the first 6 months.
- If rumours of your company downsizing have been made public, you may not be able to purchase insurance
- You will not be able to get Redundancy cover if you know you are going to be made redundant, or your employer is going to restructure
- Often, you can claim on your insurance even if your employer gives you a redundancy payment
- You will need to prove your current income or mortgage payment to get covered
- Redundancy Insurance is an optional ‘add-on’ to disability income protection
If you want to secure peace of mind about the future of your finances regardless of what happens at work, then you need redundancy income protection.
After you’ve requested your quotes, we’ll call you to discuss your requirements and help you choose the right cover for your particular situation.
When you need to make a claim, we’ll ensure your insurance provider sticks to its promises, and we’re always on hand to answer questions and offer advice.
Why do I need Redundancy Insurance ?
Unfortunately job security seems to be a thing of the past, and nobody is protected from the threat of being made redundant
Covid has changed the economy, and many businesses are not as stable as they once were
We all thought that Travel and Tourism we’re stable booming industries before 2020, but look what happened, the point is, you have to be prepared in advance
We all like to think that our jobs are secure, but that is not always the real situation
Many businesses can appear to be in good financial shape, and without warning they can be shut down due to financial stresses. Many businesses will restructure to stay afloat and this means people will be made redundant
There are going to be large and small businesses that will get taken over, and when this happens jobs will be consolidated and some will be out of work.
Sadly, these scenarios are all possible without a redundancy insurance policy