Personal Insurance from Newcastle Independent Financial Advisers

Amethyst IFA

83 Howard Street
North Shields
Tyne and Wear
NE30 1AF

0191 257 6704 0191 257 6256

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 for 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

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.

For Accident, sickness and unemployment insurance we offer products from a selected panel of providers.

For protection insurance we offer products from a limited panel of providers.

Risk Warning: These plans have no cash in value at any time.

Please refer to the policy document before taking out a policy to check any limitations.

Insurance which is based on an assessment of health of the applicant is unlikely to cover the applicant for previous or existing medical conditions and that the customer should refer to policy documentation and seek advice in order to understand what the policy does and does not cover before making an application.

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amethyst IFA Paul Richardson Alan Dennett Malcolm Butters Liz MacBride Keith Wilkinson Stephen Anderson Karen Chapman