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If you want to have peace of mind that if through no fault of your own you should become unemployed then you can take out a policy to give you an income to replace yours if you should be unable to work due to being made redundant.

If you don't have a back-up plan and you did become out of work then you could be left struggling to keep your head above water when it came to paying your essential outgoings such as your mortgage, loan repayments or general cost of day to day living. Unemployment cover can be taken in the form of loan payment protection, mortgage payment protection and income protection insurance for a premium each month which is determined by your age and the amount of cover you require.

All unemployment cover policies would begin to give you an income each month you were out of work after a pre-defined period of waiting time which can vary from provider to provider and can be anywhere from the 31st day of being out of work up to 90 days. Once a policy has started to give you an income then it would continue to do so for up to 12 months and with some providers for up to 24 months which allows you to get concentrate getting back on your feet and back to work without worrying about your finances.

Mortgage payment protection insurance (MPPI) is taken out to make sure that you can carry on paying your monthly mortgage repayments and so you don't get behind and risk having your home repossessed. If you have loan repayments to make them loan payment protection will give you money to carry on meeting your loan repayments and make sure you don't get into debt and income protection will insure your income up to a certain amount each month so that you can pay your essential outgoings and your lifestyle isn't severely affected.

You are better off going with the specialist provider for your unemployment cover as you will get among the cheapest premiums and the information you need to determine if a policy is suited to your circumstances.