This policy is designed to pay a monthly amount to you if you have an accident, become sick or are made unemployed. It can give you the peace of mind in the event of unemployment,sicknesses or accidents. Nobody can predict what will happen in the future, therefore, it’s important to consider taking out suitable mortgage protection which can give you the security of knowing that if the unexpected happens, you are prepared for it. Many standard mortgages do not have any protection insurance included, so it’s important to decide what kind of separate coverage you will need.
Accident, sickness and unemployment cover insures you against changes in your circumstances due to redundancy, disability, or illness. Usually, these payments are made after 30 consecutive days of non-working, up to a maximum of 12 months. Talk to your adviser for more information or if you want longer-term cover.
Unemployment Insurance Q&As
1. You lost your job which was not your fault
2. You have had an accident and are unable to work
3. You are to ill to work from becoming ill
1. The ASU policy will pay out for only 12 or 24 months depending on which policy you take
2. The other main difference is an ASU policy covers for Unemployment where an Income Protection Policy does not