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ASU

Accident Sickness & Unemployment ( ASU )

Accident, Sickness & Unemployment insurance (ASU), is also known as mortgage payment protection. It is designed to provide you with an income to meet your outgoings in case of:

  • Absence from work due to illness.
  • Absence from work due to an accident
  • Redundancy

With an accident, sickness & unemployment policy you pay a monthly premium for the level of cover you need, and if you lose your job or can't work, you will receive that amount of money each month to cover your costs and spend as you wish. Policies usually pay out for up to a year or until you return to work, whichever happens first.

You can choose the amount of benefit you would like to receive, although there are some limits on the maximum amount. The premium will be a percentage of the amount of monthly benefit you would like to receive. Benefits are usually payable for a maximum of 12 months.

Some policies will also allow you to choose whether you want to receive benefits for accident & sickness only, unemployment only or all three.

There are some exclusions however that you usually would not be covered for:

  • deliberate self injury
  • riding motorcycles
  • dangerous sports or occupations
  • working as a professional sports person
  • any injury or condition related to normal pregnancy, stress, backache or which you had prior to your application for cover
  • AIDS related conditions
  • conditions due to drug and alcohol abuse or criminal activity
  • sickness which occurs during the first 60 days of your policy
  • unemployment which occurs during the first 180 days of your policy

Note - Although these are typical exclusions this may depend on the individual provider.

Eligibility

Usually, provided you are over 18 and under 60, and you normally reside in the UK, Channel Islands or the Isle of Man, you can apply for an accident, sickness & unemployment policy as long you are in employment or self-employment for at least 16 hours per week, and have been so for the last 6 months.



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Company address:
Twigden Asset Management Ltd, King William House, 46 Harpur Street, Bedford, Bedfordshire, MK40 2QT
T: 01234 270074
F: 01234 327331

Email: debbie@twigdenasset.co.uk

Registration address as company address
Registration number: 4691087
Registered in: England & Wales

Twigden Asset Management Ltd is authorised and regulated by the Financial Conduct Authority.

Twigden Asset Management Ltd entered on the Financial Services Register (www.fca.org.uk/register) under reference 223678.

The information contained in this web site is subject to UK regulatory regime and is therefore restricted to consumers based in the UK.

Please note that the information contained within this web site does not represent individual financial advice. If you require advice or further information this may be obtained by contacting Twigden Asset Management Ltd.

FCA does not regulate some forms of IHT planning.

Your home may be repossessed if you do not keep up repayments on your mortgage, think carefully about securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

The value of investments can fall as well as rise. Past performance is not a guide to future performance.

Telephone: 01234 270074 | debbie@twigdenasset.co.uk

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