Accident, Sickness and Unemployment (ASU) Insurance
Protection for your loved ones
If you were unable to work due to sickness, an accident or being made redundant, you want peace of mind that your income would be protected. Accident, sickness and unemployment insurance is a short term income protection policy that replaces your income in the event that you are unable to work due to an accident, sickness or involuntary redundancy.
How does accident, sickness and unemployment cover work?
With accident, sickness and unemployment cover in place, you could receive a tax-free monthly amount for a predefined period if you were to suffer an accident, get sick or be made involuntarily redundant. The monthly benefit amount you could recieve is usually up to 50% of your income and you could continue to keep receiving your income for either six, 12 or 24 months depending on the duration of the term you choose. However, 12 months is usually the most common time period.
Do I need accident, sickness and unemployment insurance?
If you’re unsure whether you need accident, sickness and unemployment cover, just think about how you and your loved ones would manage in the event that you were no longer able to earn a living due one of these events.
It’s not a nice thought, we know. However, it’s necessary to think about these things whilst you’re still able to do so, in order to best prepare for unpredictable events. Sickness, an accident or being made redundant can affect anyone at any given time – which is why it’s so important to think about these things why you’ve still got chance to prepare for the worst case scenario happening.
Why choose accident, sickness and unemployment insurance?
Accident, sickness and unemployment insurance may not be able to protect you against those things but it can protect your income and provide you with financial security.
There are other insurance products available in this area too, such as mortgage payment protection, loan payment protection and income protection. You can choose which type of insurance is the most suitable for your needs however, you might find it useful to talk through your options with an insurance specialist to ensure that you invest in the best insurance product for you.
Protect what matters to you
This kind of policy is particularly useful if you are concerned about whether or not you could cope financially in the event that you lost your job through redundancy or ill-health. You can take out an accident, sickness and unemployment policy that is specific to a debt that you are worried about, such as the mortgage, to ensure that it keeps getting paid if you lose your income through redundancy, an accident or sickness.
Find out more about accident, sickness and unemployment insurance
If you’d like to protect your income in unforeseen circumstances, you can do so with accident, sickness or unemployment insurance. However, we highly recommend that you speak to an expert advisor who can make you aware of all the ins and outs of accident, sickness and unemployment insurance.
It might even be the case that this type of insurance is not the most suitable for your needs and circumstances. However, if this is the case, we will identify the most suitable type of cover for you.