Accident Sickness & Unemployment Quotes & Advice

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Accident Sickness & Unemployment or ASU Cover Explained

Sometimes referred to as ASU, Accident Sickness & Unemployment cover is a designed to cover your income in the short term for up to 2 years if you cannot work due to sickness or injury or redundancy.

Normally cover can be arranged on a sole or joint basis, and is restricted to a certain percentage of your income or your mortgage payment depending on the insurer. This means you cannot normally cover your entire income as you would have little incentive to return work.

Most insurers will give the option of covering accident and sickness on its own or including redundancy as well. Some insurer's offer standalone redundancy cover however they are limited due to the current employment climate.

A deferment period will normally be available between 1, 3, 6 or 9 Months and this is the length of time between being out of work and being able to claim. Cover can also be arranged to pay "back to day one" this means that if you had a 3 month deferment period you would wait 3 months to claim and then get paid a lump sum covering you back to the date of being out of work. Otherwise you would just receive payment from the date of being able to claim.

You may be able to select different deferment periods for accident and sickness and redundancy with some insurers as well, and waiver of payment will normally be available too which means you would cease paying the premium for the cover when you were eligible to claim and until you returned to work.

Payments received are tax free in most cases for a personal plan.