How can I top up my unemployment insurance?

If you have taken unemployment insurance to cover only the amount of your mortgage or loan it might be worth topping it up to provide protection for your remaining monthly outgoings. You first need to work out your net monthly income.  It is your monthly salary less tax and national insurance contributions. If your income varies, then average it out over the year. Take your net monthly income and divide it by 75% (or three quarters), and that is the maximum amount you can cover per month. If you are a higher earner, please note the maximum amount that can be covered under this policy is £2000 per month.

For example if your net monthly income is £1000 you can insure up to £750 per month.  If your monthly mortgage or loan amount is £350 per month, you can add up to £400 making a maximum of £750.  No proof of a mortgage or loan is required so where the Application Form says ‘Enter the actual monthly amount you require’ you would enter a figure up to £750.