Protect your household expenditure outgoings for up to 12 months
- ASU - Accident Sickness and Unemployment cover is very short term protection.
- Anyone buying this should probably buy proper Income Protection instead.
- Income Protection covers you long term and can have unemployment cover added.
Imagine the circumstances. Through no fault of your own you lose your income because you become unemployed. Or you're unable to work because of an accident.
Your mortgage will still need to be paid, as will other family household outgoings like credit cards, loans, council tax, utility bills and even life cover. So what can you do?
Protect yourself and your dependants from short-term financial hardship with Accident, Sickness and Unemployment Insurance, also known as ASU.
But for a better, longer term solution to accident and sickness that would pay out for more than 12 months, we recommend Income Protection.
The Office of Fair Trading investigated ASU and PPI sales recently and found many sellers to be mis-selling it. While it can occasionally be the right product, say for those in dangerous occupations, you should read the terms and conditions very carefully. It pays out far less than you might think it would!
At LifeSearch we WILL recommend ASU when it is appropriate, but for most people Income Protection is by far the better value product and you can add unemployment cover if that is what you need. Insurers live in fear of people taking out unemployment cover when they fear redundancy is imminent, so our advisers will talk you through the rules, so you don't pay premiums for nothing. When buying policies like this you really MUST take advice from an FSA regulated adviser - preferably and independent one like us.