All About Unemployment and Worked Related Disability Insurance: Update June 19 - 2010 All About "Short Term Unemployment Disability Insurance" By Insurance Experts

If you become disabled through injury, sickness, or other circumstances and have not been able to work for a year (long term disability), then you may be eligible for social security disability insurance (SSDI) benefits. If your application is approved, you can collect the social security disablity insurance benefit until age 65 when is the time the benefit is transfered to the pension program.

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Protect Yourself Against Redundancy With Accident, Sickness and Unemployment Insurance (ASU)

By John J Doherty

Accident, Sickness & Unemployment Insurance (ASU Insurance)

Accident Sickness and Unemployment insurance is the only type of insurance policy that covers you against losing your income through redundancy.

These days, every manufacturing company faces monumental challenges in an increasingly competitive global marketplace. As an employee with ASU insurance, you have the peace of mind of knowing that your family's welfare and lifestyle will be maintained, if you become unemployed due to job cuts, or simply through ill-health.

You really can use ASU to 'redundancy-proof' your household and your family!

What does ASU insurance provide?

ASU insurance is a time-limited insurance product that provides short-term assistance in paying your debts, in the event that you are temporarily unable to work.

ASU cover usually starts a month after you stop work, and pays out for a limited period of 12 or 24 months, depending on the policy.

When considering ASU insurance, reading the small print is essential, as there are important differences between the various policies available. It is particularly important to check which health conditions are covered by each policy, and if you have had a particular health issue in the past, to make sure that is included, or, more importantly, that it is not excluded for you.

An ASU insurance policy pays out only once, so that the policy ends when you claim. This makes it necessary to renew your cover with a new policy, if you require similar cover when you return to work.

Inaccurate detail at the application stage can affect your claim

It is crucial to be open and honest about your health history and lifestyle, when applying for this and all insurance. The insurer may not check your GP's files when you apply, but will certainly do so if you make a claim. There may also be questions relating to the health of your parents, concerning conditions such as heart disease, which can have a hereditary element. If you fail to provide accurate information, even if this is done inadvertently, the company may have grounds to refuse to pay out.

Mortgage Payment Protection Insurance

ASU insurance, when taken out specifically to protect mortgage repayments, is known as Mortgage Payment Protection Insurance (MPPI).

Again, the policy usually starts to pay a month after you stop work, and pays out for a limited period of 12 or 24 months.

MPPI is not necessarily required by mortgage companies, it is usually a voluntary option for home owners. If you do decide to buy this cover, there is no obligation to buy it from your mortgage provider. You are free, and indeed wise, to shop around for the best policy.

An independent financial adviser will have access to these insurances from all providers on the market, and can locate the policy that is right for you.

Principle First Chartered Financial Planners is one of the leading UK independent financial advisers and distributors of mortgages, insurances, pensions, investments, and ISA accounts. In 2008, Principle First became one of the few financial advisers to achieve the status of Chartered Financial Planners, the UK's 'gold standard' in financial advice. Find ASU insurance advice at principlefirst.co.uk.

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