Do I need accident, sickness and unemployment cover?

Accident, sickness, and unemployment insurance (ASU) is designed to protect you if you become unemployed through no fault of your own, including sickness and accidents. It will pay out a proportion of your income, usually up to 65%, if you find yourself out of work. There are many benefits to taking out an ASU policy. To make it easy, we have outlined some of the most important ones below:

Cover your monthly outgoings

Firstly, unlike some insurance policies, payouts from ASU can be used to cover anything. In other words, it is not tied to a specific debt such as a mortgage. As a result, you can be more certain that all your bills will be covered in the event of unemployment.

Tax Free

Furthermore, any payouts you receive from your ASU policy are tax free. Therefore, you will have more money to spend on bills and day to day outgoings. Due to this, you won’t have to worry about a hefty tax bill while you are out of work.

Low Cost

ASU is a low cost way to protect some of your income. Most monthly payments for ASU are cheaper than you might think. Hence, it is an easy and affordable way to ensure you and your family are protected if you’re out of work due to unforeseeable circumstances.

Long Term Cover

While payouts from ASU won’t last forever, most policies pay out for up to 12 months, or until you are back in work. This gives you time to recover or find a new job, without the stress of having to worry about your income.

Peace of Mind

Above all, ASU offers you peace of mind. You can be sure that, in the event you find yourself out of work, you will still have an income to pay for day to day costs. As a result, you have less to worry about and more time to focus on getting back to work.

Taking out an ASU policy would be beneficial to most people who are in employment; the benefits are clear. Due to the low cost, it is an affordable option for replacing lost income. Take a look at our ASU page for more information, or to get a free quote.