If you’re facing unemployment, take the protection with you
31 March 2020
Many people are unaware the Life Insurance and Income Protection plans that an employer provides can be portable and easily taken with you when you cease employment.
In these unprecedented times, it’s important to understand how to protect some of the employee benefits that provide valuable protection for you and your family in the event your employment arrangements were to cease.
Provided you have not left your employment due to illness, injury or retirement you may be eligible to apply to continue your risk protection personally. However, you only have 60 days from ceasing your employment to apply for the Continuation Option.
No medical underwriting is required in the application process, so it’s especially valuable for people with an underlying medical condition, as the process is considerably easier and quicker than purchasing new insurance cover elsewhere.
Holding onto your Life Insurance and Income Protection plans is a simple and fast process and it can help maintain important financial protection you and your family need in uncertain times.
If you wish to explore your eligibility for this valuable benefit, please speak with one of our Risk Advisers today.
Findex has developed a Government Stimulus Health Check and free Business Wellbeing Toolkit to help businesses manage potential risks and take full advantage of eligible stimulus assistance. Book your Health Check here.