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Redundancy, Accident & Sickness insurance for parents

Many parents raising a family may experience difficult financial times due to unexpected redundancy, accident or illness. It's at these times that childcare can be invaluable and something parents will not want to be without.

Childcare fees insurance provides a monthly benefit of up to 50% of your income or £1,500 per month whichever is the lesser, tax free, for 12 months to cover the cost of childcare and other expenses.

We offer protection that’s flexible with no ‘tie in’ period and various excesses. Benefits are payable after 30 days off work and are paid from day one.

Benefit from the peace of mind that your childcare fees will be covered.

Involuntary redundancy is covered after the policy has been in force for more than 120 days.

All types of employment are covered, including self employed, contract workers, directors or business partners (subject to exclusions).

Self employed can claim for redundancy if the business fails and claim job seekers allowance (terms and conditions apply).

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Free life assurance for parents with babies under 1yr.

For details of this amazing offer from AVIVA Contact Us

We can ask an independent financial adviser to arrange this for you.

Redundancy Insurance for Parents: Can You Do Without It?

How safe is your job? Can you be sure your income will not suddenly come to a halt? In the current economic climate, redundancy is becoming the norm rather than just an occasional occurrence. If it happened to you, how long could you continue the lifestyle you and your family are used to?

You may well receive a redundancy payout as part of your package; but how long realistically will this last when put up against the enormous costs of raising children?

Could you live on your savings if you were made redundant?

Could you live on your savings? Most probably could not. Maintaining savings for unexpected eventualities is no easy task when the cost of living is ever increasing and even if you have managed to save, with interest rates so low, those savings probably won’t be giving you much of a return; certainly not enough to live on should you lose your main source of income.

There is, however, a way to protect your family against the financial strain that follows being made redundant, and that is by taking out redundancy insurance; for parents, it should make up a core part of their monthly policies. Otherwise known as unemployment insurance or income protection insurance; these policies will normally pay you the equivalent of a significant part of your salary.

Redundancy Insurance could allow Parents and their Children to Continue enjoying Life’s Luxuries

And what a difference that could make.  You wouldn’t have to worry about how the bills would be paid or how you would meet the cost of the weekly shop. And instead of waving goodbye to life’s luxuries, like taking the children out for the day, these could probably be continued, meaning no need to disrupt the normal family life to which your children are accustomed.

And as for all those healthy but costly activities your children love like dance, skating or horse riding, they could continue too if you were to take out a redundancy insurance policy.  You could carry on paying for child care so that the development of your younger children would not be upset by changes in routine, and you could spend more time on your job search or career planning. 

All you need to do to receive these benefits is choose redundancy insurance cover suitable for parents and keep up the monthly premium payments.  The premium will be set to cover the level of benefits you wish to receive, which is usually a good proportion of your salary. 

Reorganise your life without Financial Worry

The monthly payments normally cease when you have a new source of income, otherwise they will continue for a set time; time you can use to seek a new position or reorganise your life without financial worry. Some people take the opportunity to set up in business for themselves, or make their dreams come true with life changes that were not possible when they were at work all the time.

It’s not so much a question of whether you can afford redundancy insurance; as a parent, it’s more a question of, can you afford to be without it?

If you want to eliminate the anxiety caused by the threat of redundancy, especially as a parent, then cover yourself with a suitable unemployment insurance or income protection insurance plan and look at it as an insurance policy for the future of your family.