Redundancy Protection is the new buzz word from the financial services industry brought out to help protect our future income incase we loose our jobs!
Now in this current climate this may be not a bad thing (for once from those guys) this kind of financial package is well worth it. Ok I do have a vested interest in that my Internet Development company in Ireland developed the site it is still well worth it. Because at the moment with so many people loosing their jobs this is becoming critical as with modern living people are max'd out on their savings and living on the edge with bulging debt all thanks to the financial institutions pushing us to borrow more and more.
If some one looses there job tomorrow they may be lucky and have some savings to tied them over till they find a new job, but in this market now the length of time it takes can exceed 6 months and at a lower rate of pay. In the meantime the living costs have not gone away. At least this will make things that bit easier to get by. The maximum cover they will pay out is €2,000 per month but for a normal sized family, that will atleast cover the monthly grocery expenses and general running costs of the home.
As they say on the site Redundancy Protection, it does it exactly what it says on the tin!!!