Does Income Protection pay in an event of Redundancy

Income protection insurance is designed to provide financial support if you are unable to work due to illness or injury. This type of cover ensures you receive a portion of your income, typically up to 75%, during your recovery period.

However, income protection policies generally do not provide coverage for redundancy or loss of employment due to external economic factors or changes within your workplace. If redundancy cover is a priority for you, we recommend exploring alternative options, such as redundancy-specific insurance or financial planning strategies to build a safety net for such situations.