Unemployment Accident Sickness Insurance Cover (ASU) Enquiry Form
We act as introducers for Unemployment, Accident & Sickness plans
Unemployment Protection Insurance
Typical Key Features of an Unemployment Protection Insurance Plan
- On Redundancy, benefits are payable monthly usually after 1 month for 12 or 24 months
- Payable until a return to work or the ceasing date
- Benefits are paid usually 1/30th of your Monthly Benefit
- Premiums payable monthly or by single premium
- You may have to wait for 60-120 days before Unemployment Cover plan benefits apply
- Plans may cover payments upto 150% of mortgage with maximum benefits of £1,000pm - £3,000pm or 75% of your monthly earned income before tax
- Some plans are not linked to a mortgage but maybe limited to 50% of gross salary payout
- A claim maybe successful if you have been made redundant involuntarily
- Waiting Period upon claim usually 31, 61 or 91 days as applicable
- Ability for extra premium cost to have Back to Day 1 cover - but still usually paid after 30 days
- If you opt for voluntary redundancy, you resign or you're dismissed, you may not be covered
- During the time you're claiming, you must also be available and actively seeking work
- Often designed to cover a mortgage, loan, rent or other finance over the term
- Can be in sole, joint cover or 2 separate names
- Payments will stop when you return to work
- Some plans may ask that you can carry on paying the premiums for cover to continue during a claim - others have a premium waiver option either built or payable as an extra benefit
- If you are a Shareholding Director & own more than 10% of the issued share capital of the business that you work in - you will usually only be insured if your business ceases to trade.
- If you are a Proprietor who wholly or partially owns the business (other than as a shareholder) that you work in - you will usually only be insured if your business ceases to trade.
- Redundancy plans usually have no surrender cash in value at any time.
- Often linked to accident or sickness insurance plans - although can be taken as seperate benefits
- Evidence may be required to confirm that you are not under threat of loss of employment
- Premiums may be guaranteed or reviewable annually
If looking for this insurance - It may also be known as Accident Sickness & Unemployment ASU Cover, Redundancy Income Protection, PPI Payment Protection Insurance or MPPI.
FOR PROTECTION PRODUCTS WE USUALLY OFFER FROM A LIMITED PANEL OF PROVIDERS
For products with an investment element we will introduce you to an authorised adviser
This website is intended for UK consumers & any information contained therein is for Generic Guidance only and is not to be construed as advice. For protection products we usually offer from a range of providers.
By completing our no obligation quotation request form, you may be provided in seconds with comparison protection quotes, key facts from leading Providers - based just on the basic information you have provided. Note: These quotes will not take account of any personal, health or lifestyle issues. You also consent for us to then kindly contact you by phone - where we may offer Professional Broker help & guidance if needed. We may as appropriate then help to arrange a suitable protection policy based upon your own circumstances & needs after a further review by "advice & recommendation". This will usually be on a non face to face basis.
For products with an investment element we will introduce you to an authorised adviser. We act as introducers for Accident, Sickness and Unemployment plans. We may also introduce you to other selected professional partners for other protection or legal products as deemed appropriate. Online Dispute Resolution (ODR) - https://webgate.ec.europa.eu/odr/main/index.cfm?event=main.home.chooseLanguage. Financial Ombudsman. https://www.financial-ombudsman.org.uk We nominate to fundraise for Great Ormond Street Hospital Charity.
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