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Accident Sickness and Unemployment Cover explained
Also known as ASU Cover, Redundancy Cover & MPPI (Mortgage Payment Protection Insurance) this is a short term UK insurance policy which covers you should you find yourself unable to continue  working due to being involved in an accident, suffering a sickness or being made unemployed / redundant.
Should any of these happen then your accident, sickness and unemployment cover will pay you a monthly income which is free from income tax and will continue to pay monthly for 1-2 years, dependent upon the insurance provider. If you require a longer period then you should consider Income Protection Cover but this will not cover you against unemployment.
Often, an Accident Insurance policy is directly linked to a mortgage, loan or income. For example, should you take out a mortgage payment protection insurance policy and be involved in an accident which prevents you from working, then your policy will continue to pay your mortgage repayments (up to 150%) whilst you are recovering. This means you can concentrate on the healing process without the worries of your finances. |
