Best Redundancy Insurance: How to Protect Yourself during Unemployment

best redundancy insurance 01Recently, people are becoming more aware of the fact that they need to hold the best redundancy insurance available. It is true that forecasts for unemployment have always been used for gauging future economic activity. New Zealand has a positive economic outlook in the coming future – which is coincidentally the best time to start an income protection redundancy insurance policy.

As per CEIC Data, unemployment rate forecasts of New Zealand highlight minuscule increases in the next five years. This period of sustainable job market is perfect to secure oneself from future market shocks. However, having a level of scepticism is useful when thinking about statistical forecasts. It is important to mention that volatility in job markets is usually sudden and sometimes unforeseen. Additionally, some workforce sectors are going to feel the impact of economic downturn harder than others. A disproportionate impact to certain sectors could arise due to technological advancements; reducing demand in the labour force. Unexpected redundancy hurts the most for people who are not prepared for such situations. To prepare for these scenarios, redundancy insurance is the perfect tool to protect yourself and your lifestyle.

Discourse on Unemployment Insurance in New Zealand

Recently, a report has been published on Unemployment Insurance by the Productivity Commission. In this NZ-focused report, two points are worth mentioning: one is that in the coming years – the rate of job displacement or redundancy due to technological change is expected to rise, which in turn will lead to a rise in involuntary redundancy; secondly, New Zealanders are more likely to lose their ability to meet financial commitments, such as mortgage payments, in case of job loss. These negative results exacerbate in the case of people with children.

Obviously, any form of redundancy (especially unexpected redundancy) is accompanied by a lot of stress and concern for the future. The period following the loss of a job is extremely difficult to manage. If someone does not have savings to cushion the impact of redundancy, the pressure to find a job rises considerably. It can create pressure to get any job, rather than one to fit an individual’s skills and career.

The Best Redundancy Insurance Provider

A lot of people see real benefits using time and tested insurance brokers like Ease Insurance to help select the right insurance company. Ease Insurance is well regarded as one of the best redundancy insurance providers in the country, as it has strong relationships with many major insurance companies. Taking advantage of competitive redundancy insurance facilities is an advantage for our customers – getting the most suitable coverage at the most competitive prices.

Ease Insurance – Flexible Redundancy Cover

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Redundancy insurance can be integrated and combined with other personal risk policies, such as income protection redundancy insurance, sickness and redundancy cover, etc. Similarly, each provider’s offering caters to the needs of different types of customers – different options exist even within a redundancy insurance provider’s policies. These options include:

  • Insurance plans with diverse rates & include different payment structures.
  • Income protection in different situations such as sickness, accident or disability.
  • Protection for periods from 6-months for redundancy, or more for disablement.
  • Availability of different insurance providers lead to competitive pricing options.
  • Options to include mortgage protection insurance to cover home loan payments in cases of redundancy.

Redundancy Insurance Comparison

Ease Insurance is able to quickly provide you with quotes from several insurance companies. Talk to us, and compare different plans and the relevant cost of such plans. Our experienced insurance advisors are able to provide customers with an unbiased understanding of their available options. Contact us & get a quote today at https://www.easeinsurance.co.nz/redundancy-insurance-get-quotes/.


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Why Income Protection Insurance Important for Kiwi Families

It’s never fun to consider what would happen to you and your family should you become too sick or injured to work.

But it’s something that New Zealanders do need to think about – after all, according to the Financial Services Council, almost 85% of Kiwis don’t have any insurance in place to protect them from loss of income. They also point out that ‘there are nearly one million households with incomes above $20,000 that would be vulnerable if they faced a long-term illness that stopped a major earner in the household working.’

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What’s the difference between Mortgage Protection Insurance and Mortgage Cover?

Compare Mortgage Protection Insurance and Mortgage Cover – what’s the difference?

Taking on a mortgage is a big commitment; with the average first-time buyer taking out a mortgage of $400k, it’s likely to be the largest amount of debt you’ll ever have.

Keeping a roof over your family’s head is your number one concern; so it’s important to consider how your mortgage payments would continue to be met should anything happen to you or your partner.

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Do you have a mortgage? Have you considered what would happen if you lost your job due to ill health, an accident, or if you or your partner passed away? In a worst-case scenario, the last thing you want to worry about is keeping a roof over your head. So, it’s worth considering how you can protect your home against life’s twists and turns. Ease Insurance’s mortgage protection insurance services can help.

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Do I really need redundancy cover / insurance protection?

A question we are often asked by our customers is “Do I really need redundancy cover?” To this question, we ask the customer to consider what would happen if you were to be made redundant in your current position. Regardless of your salary, debts and assets or lifestyle, every person would be affected by a loss of a job. However, this might be in a different way than you think. While many people consider being made redundant meaning a month or two off work while you find another job, this is not the case most of the time. The job market is tough to break and while you may find your dream replacement job pretty quickly, there may be dozens of others who are after that same job. Therefore it is important to apply for redundancy cover today.

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Mortgage Protection Insurance Comparison – Our Point of Difference

Before you run a mortgage protection insurance comparison it’s important you understand what home mortgage protection insurance is all about.

WHAT’S MORTGAGE PROTECTION INSURANCE?

In brief, mortgage protection insurance is a life insurance policy that covers your mortgage. With the right amount of cover in place, it ensures that you and your family will always have a home regardless of what the future brings. If you or your partner become too ill or injured to work, or if you pass away, your family will still have a roof over their head.

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Redundancy Protection Insurance vs Trauma Insurance – Choose Wisely!

​The world of Redundancy Protection Insurance can be confusing to navigate. But it’s essential that you do it right – your survival and wellbeing could well depend on it.

That’s what happened to Jeremy Walton. The company he’d been with for nearly a decade restructured three years ago. While they were appreciative of his contribution, they saw no way to bring his role into the new business structure. This was completely out of the blue and hit hard. Thankfully Jeremy had had the foresight to take out a Redundancy Protection Insurance policy a few years before this. He and wife Nicole discussed where to from there and made some minor adjustments to their lifestyle. Their relief was huge knowing their redundancy insurance cover maintained their mortgage repayments. Their bills were also covered for the 6 months that it took Jeremy to find another role that he felt was right for him.

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