ASU insurance is a policy that protects you against loss of income due to unemployment, illness or accident. It could provide you with a tax-free income and could continue to pay out until you are able to return back to work.  The policies usually have a maximum claim period of either 1 or 2 years so if your absence from work is going to be long term the policy will only get you over the initial period.

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When choosing your insurance policy, there are 3 main cover options for you to choose from. They will determine how the policy works, and when it may pay out. You’ll need to choose one from one of the types below or you may decide on a policy combining them:

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·     Sickness – for cover against illness and being unable to work

·     Accident – protection against accidents leaving you unable to work

·     Unemployment – losing your job

 

These insurance policies are designed to help you pay your bills if any of the above should happen, so that you can maintain a certain standard of living while you’re not able to work.

 

By paying a monthly premium, if any of those circumstances were to happen, your policy would kick in to allow you to cover your bills, such as your monthly mortgage or rent, loan/credit card repayments or utility bills.

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THE PLAN WILL HAVE NO CASH IN VALUE AT ANY TIME AND WILL CEASE AT THE END OF THE TERM. IF PREMIUMS ARE NOT MAINTAINED, THEN COVER WILL LAPSE.

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