| What is redundancy payment protection cover? | | | | unfortunate event such as an accident and you are |
| It is basically a protective cover to pay you a portion | | | | crippled, you may find it difficult to manage your living |
| of your salary in case you are made redundant due to | | | | expenses and timely mortgage payments, in such |
| injury, sickness or have lost your job due to inevitable | | | | circumstances you will be well protected. |
| reasons. It will not cover you in case you have | | | | Will you be paid a salary in case you are on your sick |
| voluntarily stayed away from work. | | | | leave and out of work? |
| Will this payment protection cover you for your | | | | No, insurance policy will let you enjoy multiple income. If |
| mortgage payment? | | | | you are on your paid sick leave and are out of work, |
| This payment protection cover will cover your | | | | you will not be paid by the insurance company. In case |
| mortgage as well as your credit card bills if you are | | | | you have exhausted your sick leave and are on loss |
| unable to go to work. Some times, there is a full | | | | of pay you will be compensated. |
| payment of your monthly mortgage charges paid out | | | | For how long will you be covered? |
| to you. | | | | This will depend on what you have mentioned in your |
| Why is such a policy required? | | | | policies while applying for it. If you have applied for a |
| It is always recommendable to be prepared in times of | | | | coverage up to your retirement age say, 60 to 65 |
| any untoward incident. You may face some risky and | | | | years, then you will be compensated till that age. |