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Can I be made redundant while claiming income protection

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  • 25-10-2013 10:14pm
    #1
    thunderwing
    Registered Users Posts: 16 ✭


    I have a group Income protection claim processing at the moment, and I hear from colleagues that there are redundancy's looming, if my claim is successful can I be made redundant and lose the income protection or will the policy keep paying once it starts and I am still unfit for work, whether I'm made redundant or not ?


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    #2
    No Pants
    Closed Accounts Posts: 3,347 ✭✭✭No Pants


    What do the terms and conditions of the policy say? There is normally a period at the beginning where no claim can be made.


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    #3
    thunderwing
    Registered Users Posts: 16 ✭thunderwing


    No Pants wrote: »
    What do the terms and conditions of the policy say? There is normally a period at the beginning where no claim can be made.

    I'v gone well past the 26 weeks paid leave, the policy says benefit expires "with the member ceasing to be in the service of an employer" but the next clause says "The attainment of age 65 by the member"
    which I find a bit confusing, if an employer can let me go when I have an illness, why would the policy pay until I'm 65 ?
    Does/could "ceasing to be in the service of an employer" mean if the employer ceases to trade, and not refer to the employee being laid off?


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    #4
    Victor
    Registered Users Posts: 78,267 ✭✭✭✭Victor


    thunderwing wrote: »
    I'v gone well past the 26 weeks paid leave, the policy says benefit expires "with the member ceasing to be in the service of an employer" but the next clause says "The attainment of age 65 by the member"
    which I find a bit confusing, if an employer can let me go when I have an illness, why would the policy pay until I'm 65 ?
    Does/could "ceasing to be in the service of an employer" mean if the employer ceases to trade, and not refer to the employee being laid off?
    I think what it means is that the policy expires under either of those conditions - "with the member ceasing to be in the service of an employer" or "The attainment of age 65 by the member".

    From what you say, if you are made redundant, it would seem that you will lose the income protection. Have you been claiming illness benefit? If not, look into it now. If you receive a redundancy payment, this may complicate things, but you should retain some income.


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