For the average Australian, shopping for income protection insurance can be somewhat overwhelming. Most policies have a variety of options and different levels of coverage, along with the fact that many of the insurance terms might be hard to understand. One feature of income protection insurance that is important to consider is redundancy protection. This policy option comes into play if the insured finds that they are involuntarily unemployed through a situation that is not related to illness or injury.
If you would like to know more about redundancy protection and why would you need to use income protection against redundancy, visit http://www.
A policy that has redundancy protection will not provide any benefits payments in the event that you are involuntarily unemployed, but the insurance company will waive your premium payment for a few months while you search for new employment. Not having to pay your premium in this event means that you will be able to focus what resources you have on more important expenses and you won’t risk losing your coverage all together.
Australian consumers can visit the http://www.