NLIC.org

Richard Said:

how long does it take for redunduncy to come through ?

We Answered:

You should not have given it to the secretary - same happened to me Jan 09, I took company to employment tribunal and won my case but company never paid by date stated i then got the PR1 form signed by the judge and posted it to the PR1 office and the money was paid within 2 weeks - getting the money from the government on the RP1 form does not entitle you to what you expected, I was awarded £2000 from Employment Tribunal but when processed by Governments RP1 form I got £960 in total as i am over 45 years old it was 1.5 weeks wages for every year I was there, you do not get holiday pay or money in luei of notice, commissions etc just basic redundancy it took me 8 months for settlement. - If you get a large amount of money it will affect your benefits.

Tyler Said:

Americans - I pay £118 ($180) per month in National Insurance. How does this compare?

We Answered:

I don't believe any American pays anything less than double that. In addition, that is not the only comparison: when we file a claim, insurance always only pays some portion of the bill so for anything even relatively serious, we get stuck with multiple thousands of dollars in debt (medical debt is the leading cause of home foreclosure), so we pay at best, double that, but we get off that easy only if we're lucky enough not to need it and / or ignore symptoms and stay away from doctors. In even further addition, our private insurers are free to reject virtually any claim they please for any number of reasons they might randomly choose, so it is impossible to establish an accurate value for comparison other than simply stating, we pay probably twice your premium at best but we also spin the wheel of fortune to discover our hidden prizes later which can include thousands or even tens or hundreds of thousands of dollars in bonus debt or even death. (I also thinks it's pretty crazy but we're pretty crazy people with a lot of crazy ideas as you might have noticed.)

Ernest Said:

where can i get redundancy cover from?

We Answered:

Redundancy Insurance is only available to those who have no reason to fear Redundancy = read the exclusion clauses .. if you get made Redundant and they find out you had ANY reason to suspect you MIGHT be made Redundant, they will NOT pay out (evidence that you fear Redundancy ? .. the fact that you took out Insurance)

Some Bank Staff who have been paying Redundancy Insurance Premiums for years have received letters from the Insurance Companies, quoting 'changed circumstances' (ie. global credit crunch) canceling the cover .. just before they got made redundant ..

Finally, most Policies they will only pay out if you are unable to get a job for over 6 months .. so there's a 6 month 'waiting period' ..

In my view, this particular 'Insurance' is just a TOTAL rip-off ....


However , if you really want to go ahead .. look for 'offers' from your Credit Card companies and Mortgage company .. (but make sure you read all the small print before parting with your cash)

Jennifer Said:

How will I sleep at night?

We Answered:

You are not the only person that this is happened to. How do you sleep at night? Like everyone else, and move on with your life.