Redundancy Cover
What is a Redundancy Cover?
Redundancy Cover Insurance is designed to protect your income if you are made involuntarily redundant from your job. This type of cover helps you continue meeting your essential financial obligations—such as rent, mortgage, utilities, and other living expenses—while you search for new employment.
At Silverstone Financial, we help you navigate this process from start to finish. Our expert brokers compare policies from multiple insurers and banks to ensure you get the right redundancy protection tailored to your job and financial situation.
Why Do I Need a Redundant Cover?
Having Redundancy Cover in place offers crucial peace of mind in times of unexpected job loss:
Unforeseen Job Loss
If you lose your job unexpectedly, the cover ensures your mortgage or rent is paid while you search for a new position.
Income Continuity
Receive regular payments for a set period, so you can focus on finding the right role without rushing into unsuitable work.
Reduced Financial Pressure
Avoid falling behind on essential expenses or draining your savings during a difficult transition.
Peace of Mind for Professionals
Especially helpful if you work in a high-risk industry or are the main income earner in your household.
Additional Benefits of Redundancy Cover
Depending on your policy, you may also enjoy:
-
Flexible
Cover Periods
Choose how long you want the cover to support you—typically 3 to 6 months.
- Add-On Options
Can be added to mortgage protection or income protection insurance.
-
Quick
Claims Process
Many insurers offer fast processing to ensure you get funds when you need them most.
-
Customised
Benefits
Adjust your coverage to align with your monthly financial commitments and employment risks.
How to Claim Redundancy Cover?
To make a claim under your Redundancy Cover policy:
-
Notify Your Silverstone Financial
Services or Your Insurer
Let your insurer know as soon as you’re made redundant.
- Submit Documentation
Provide proof of redundancy (such as a termination letter), and any other required paperwork.
- Claim Assessment
The insurer will evaluate your claim based on policy terms and employment history.
- Receive Your Payout
If approved, you’ll receive regular payments for the agreed period.
Why Choose Silverstone Financial for Redundancy Cover?
We’re not tied to one insurer—we work for you, not the provider.
Expert Policy
Comparison
Our brokers assess and compare policies from top banks and insurers in New Zealand.
Tailored Recommendations
Your policy will be matched to your role, industry, and financial goals.
End-to-End
Support
From selecting the right policy to assisting with claims, we’re with you every step of the way.
Future-Focused
Advice
Whether you change jobs or move into a new career path, we ensure your protection stays relevant.