Accident, Sickness & Unemployment Cover is designed to cover you for many different reasons should anything go wrong and prevent you from working.
What your policy will cover:
- If you have an illness that means you are then too sick to work.
- In case an injury occurs and you are then unable to work.
- If you lose your job and it is no fault of your own.
The payout is usually a proportion of your income for up to a year or until you return to work, in order to cover monthly expenditure. This was you have time to get back on your feet before going back to work.
However, with Accident, Sickness & Unemployment Cover it will only cover one debt. It is usually a mortgage so you will have no extra money for other items. It can also be used as a form of income, or for any other repayments you may need to make. As well as this payment is normally deferred. The normal time for a payout is usually 30 days after you make the claim due to the deferred payments. The claim will then be dated back and paid out.
Anyone is eligible for cover as long as you are over 18 and under 60. Also, your normal residency needs to be within the UK. You must also be in employment and work a minimum of 16 hours a week and have been in this employment for at least 6 months. However, you may not be covered if your job is at risk when the policy is taken out. It can also be harder to get Accident, Sickness & Unemployment Cover if you are: Over 65, self-employed or just starting a new job.
Get in touch today on 01332 821 340 to make sure you get the best policy for your situation!