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Accident sickness and unemployment insurance

There are many income protection policies and mortgage protection policies available that provide insurance cover for accident, sickness and unemployment. Here we can offer you a carefully selected range of excellent value income protection policies and mortgage protection policies to suit almost everyone, whether you have a mortgage or not.


Mortgage protection insurance Mortgage Payment Protection Insurance (MPPI)

You do need to have a mortgage on your own home to take out one of these mortgage protection insurance plans. However, you can increase cover to include other monthly costs. These plans are also known as mortgage payment protection insurance plans, income mortgage protection or mortgage repayment plans.

Mortgage Payment Protection Insurance

This mortgage payment protection insurance offers Defaqto five star cover which places it at the very top of the market. Up to £3000 per month benefit to cover accident, sickness or redundancy. Age related premiums AND back to day one cover in the event of a claim !

 

Income protection insurance Income Protection Insurance / Accident Sickness Unemployment (ASU)

An income insurance protection policy covers YOU, so you do not need to have a mortgage to take out one of these income protection insurance plans. Additionally, the monthly benefit available will not be restricted by your mortgage payment.

Income Protection

Income protection plan. Up to £1000 per month benefit to cover accident, sickness or redundancy. Back to day one cover and NO mortgage required.

 

Loan protection insurance Loan Protection Insurance / Payment Protection Insurance (PPI)

This loan protection plan is available if you have a loan, HP or finance agreement. Cover is based on the loan repayment amounts and the term of the agreement.

Loan Protection Insurance

This innovative plan will allow you to cover a personal loan, car loan or car finance agreement at prices far below those of the finance Company. Accident, sickness, unemployment cover all inclusive.




About Accident Sickness and Unemployment (ASU) plans

Accident, sickness and unemployment plans will pay out the regular monthly benefit in the event of you being unable to work due to unemployment/redundancy or disability.
The monthly premium is based on the level of monthly benefit you choose but premiums are not affected by age, health or smoking habits.

Accident, sickness unemployment or ASU has several different names depending on its main aim:

Income Protection Insurance

Income protection insurance is used to insure YOU, or your income. The monthly benefit is based on your income not your mortgage or loan payments.

Mortgage Payment Protection Insurance (MPPI)

As the name suggests, mortgage payment protection insurance is used specifically to protect the monthly payments on a morgage. This type of policy could also be called mortgage protection insurance or just mortgage insurance.

Loan Protection Insurance

Loan protection insurance or loan payment insurance can be used to protect the payments on a loan, car finance or HP agreement. This could also be called Payment Protection Insurance (PPI).
The need for payment protection cover.

No one knows what the future will hold and if you become unemployed or you were disabled due to an accident or sickness you may not be able to meet your financial commitments. Over 70% of people will not qualify for Income Support and those who do will receive only a small percentage of their normal income.

There are many places to buy accident sickness unemployment from and the cost varies dramatically. Banks, building societies and mortgage lenders often offer policies that are expensive when compared to those available from brokers. Policies from brokers are also more flexible with better policy terms and options.

Most finance lenders will want you to take out their insurance protection, loan protection or mortgage protection insurance. You are under no obligation to take out this cover when applying for a mortgage, loan or finance agreement and you would be advised to shop around for alternative cover.
There are some important issues surrounding income protection, loan protection or mortgage protection plans.

The self employed may find it difficult to claim for unemployment due to the policy wording and definitions. Employed people are only covered for involuntary unemployment or redundancy. If you volunteer for redundancy the insurance will not pay out. All policyholders should be aware that income protection, loan protection and mortgage protection policies will also exclude pre-existing medical conditions, those medical problems which existed before the insurance policy commenced.