Expected to bridge the difference in income for up to two years, for involuntarily dismissed workers re-employed at lesser paying jobs
Bill Graham’s Salisbury Underwriting Services (SUS) has launched Salary Gap Insurance, a new protective tool for workers to safeguard against loss of wages, through London-based Tobell Insurance Services.
Graham established SUS, to develop the concept and service all ‘Salary Gap Insurance’ policies. It is expected to bridge the difference in income for up to two years for workers who are involuntarily dismissed and re-employed at jobs that pay less than their previous yearly income.
This product is currently available in Holland through TAF B.V, and is entitled TAF WerkloosheidsPlusplan. Tobell also plans to introduce Salary Gap Insurance in the UK shortly.
TAF WerkloosheidsPlusplan will be sold as an extension to standard unemployment insurance or as a protection.