It’s time to realise that the world is changing very rapidly. This means less job security than ever as traditional industries downsize while computers replace jobs, and more tech-savvy younger people enter the workforce. Alongside the changing world, redundancy insurance protection has been gaining traction, because, despite unemployment levels dropping, job seekers aged over 50 are finding it harder and harder to find work after being made redundant. The truth is it now takes longer than a couple of weeks to find another job. With online job listings making each job application accessible to thousands of people, the hiring process can get dragged out to months. This is a scary fact seeing as nearly half of New Zealanders have stated they would be unable to pay their bills one month after losing their job.
That’s where redundancy insurance comes in.
Redundancy insurance protection will cover a percentage of your income or mortgage payments for a period of time after being made redundant. This will help you to get back on your feet and looking for another job before you experience any major financial loss such as falling into debt or being unable to pay your mortgage payments.
Why get redundancy insurance protection when you could go to WINZ?
The job seekers allowance (the most common redundancy cover provided by WINZ) sits at around $200 a week for a single person aged over 25. For most people, that wouldn’t cover housing, expenses and activities, while allowing you time to look for another role that you are qualified for. As well as this, WINZ will send you to interview for jobs you are over-qualified for or have no interest in order to get you to re-join the workforce quicker. This can be a great and useful tool for some people, but for others, they may prefer to be given the extra time to find a job they are both qualified for and enjoy doing. We are sure that you’d prefer the latter, which is why you should take the first step towards redundancy cover in 2019.
How to get redundancy insurance protection in New Zealand?
Ease Insurance is your redundancy insurance protection experts here in New Zealand. We can help you with personalised redundancy cover to help you have peace of mind if you were to be made redundant. Contact Ease Insurance, your redundancy insurance providers today and we will let you know the redundancy insurance cost, obligation free, and provide yourself with peace of mind for 2019 and beyond.