Accident Sickness & Unemployment Cover

 

Imagine for a moment you were unable to work because you were sick or out of work due to redundancy:

 

How would you pay your mortgage and monthly bills
How long could you live on your savings?
What would happen when your savings ran out?

These scenarios are stressful enough so it is important to be able to concentrate on getting well or finding another job.

 

Accident, sickness and unemployment cover allows you to protect your financial commitments if you are unable to work because of illness, accident or compulsory redundancy.(ASU) Policies provide cover for a shorter term than Income Protection Cover where benefits can only be claimed for a maximum of 1-2 years, depending upon the company.

 

ASU Policies can have redundancy cover incorporated for employed persons only, meaning that you can claim on the policy should you be made redundant from your occupation.

 

ASU policies can be linked directly to mortgage payments and a percentage of mortgage related insurance bills. It is also possible to set the policy up with a specified deferred period, typically this can be 30,60 or 90 days and in some cases less or more than this. The deferred period is the period of time that has to elapse before you are entitled to make a claim under your policy, so someone with 4 weeks sick pay may have a deferred period of 30 days to ensure monthly benefits begin the month after incapacity started.