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About Redundancy Cover
Will I get some benefits from the state to help me?
You may also qualify for help with mortgage payments, however this will not start until you have been unemployed for at least 13 weeks and the state will only cover the cost of the interest payments. That means, if you have a repayment mortgage, not all of your mortgage payment will be covered and you risk falling into mortgage arrears.
Will I get redundancy payment from my employer?
Half a week’s pay for each full year you were under 22
1 week’s pay for each full year you were 22 or older, but under 41
1 and half week’s pay for each full year you were 41 or older
However, this would be limited to the first £464 per week of pay.
How does Redundancy Cover work?
How soon and for how long will I be covered for?
How much will the plan pay out?
Can I have redundancy cover if I am self employed?
Profcol can help provide a back up, if ever you need help getting back onto your feet.
Please give us a brief summary of what it is you would like to do and we will come back to you quickly to let you know how we can help. If you want to talk to us immediately, please call 020 3951 0285