Accident, Sickness & Unemployment
Why choose Accident, Sickness and Unemployment Insurance?
( ASU AS IT IS MORE COMMONLY KNOWN )
ASU Insurance aims to provide you with a monthly benefit to help pay your mortgage or other monthly expenses if, due to illness, an accident or unemployment (if you have chosen this option), you are unable to work resulting in a loss of earnings.
The benefit payments period is usually 12 months maximum (some providers offer a 24 month option).
The benefit will continue to be paid until you return to work, your mortgage term ends or your policy ends, or it has paid out for 12 months - whichever is first.
There will be a period when you are first unable to work for which the policy will not pay benefit. This is known as the deferred period. You can choose between 4, 8, 13, 26 or 52 weeks depending on your personal circumstances. Generally speaking, the longer you have chosen to wait, the lower your premium will be. You may need to consider any sick pay from your employer or savings that you may have.
Please be aware that there are certain restrictions on eligibility, limits on the maximum cover and benefit options selected. The above options are subject to terms and conditions, which are contained in the relevant providers Policy Document and Technical Guide, which are available on request.