Most Income Protection Policies in Australia do not offer cover for involuntary redundancy. However, the increasing competition among many of Australia’s insurance brands has lead to the arrival of some general insurance products that offer a limited range of protection against:
- Redundancy
- Loss of job. There are a number of general insurance companies within Australia that have just introduced income cover with a feature of involuntary redundancy cover for a period of up to 3 months, which also serves as a protection plan to cover your bills for a specified period.
