As one would expect, Redundancy Insurance Cover provides financial peace of mind if you unexpectedly lost your job or experience serious financial problems with your business.

Redundancy/Bankruptcy Mortgage Protection Insurance does not require any medical underwriting. In order to receive benefits, it’s important your premiums have been paid and up to date and you have disclosed all relevant information when applying for Redundancy Insurance Cover.

Asteron’s Redundancy/Bankruptcy Mortgage Protection Insurance and provides the following key features:

• In order to be eligible, employees must be between 16-59 years of age.
• Premiums don’t increase with an increase in age.
• Up to 6 monthly claim payments for any single event upon confirmation of redundancy or bankruptcy.
• Depending on your mortgage repayments, benefits can vary from $500-$5000 per month.
• 6 month waiting period from time of application and payment and a 30 day, wait period for the first payment once made redundant
• Benefit ceases at 65 years of age.
• Once can claim a maximum of 2 events of which each event must be at least 12 months apart.
• One can select either 40% of their regular income as a benefit or 110% of their mortgage repayments.