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Accident, Sickness and Unemployment Insurance
Sometimes life just doesn’t go according to plan. You might fall off a ladder cleaning the windows, suddenly become ill which means you can’t work, or lose your job unexpectedly. That’s where accident, sickness and unemployment insurance comes in.
Accident, sickness and unemployment insurance is a short-term income protection policy that replaces your income for up to 12 months should you be unable to work due to accident, sickness or involuntary redundancy. Unemployment protection insurance can also be brought as a standalone product, as can accident and sickness protection.
With ActiveQuote, it is easy to compare accident, sickness and unemployment insurance quotes online from across the UK to find the best accident, sickness and unemployment cover at an affordable price.
How does Accident, Sickness and Unemployment Insurance work?
Should you be unable to work due to an accident, prolonged illness or involuntary unemployment, your accident, sickness and unemployment cover will pay you a tax-free monthly amount for a pre-defined period. This monthly benefit is usually up to 50% of your income.
Accident, sickness and unemployment cover quotes will usually only pay out for 12 months, even if you are unable to return to work after this time.
What does accident, sickness and unemployment insurance cover?
Unemployment - if you lose your job through no fault of your own.
Sickness - if you fall ill and are too sick to work.
Accidents - if you are injured and unable to work as a result.
What doesn’t accident, sickness and unemployment insurance cover?
Job loss - if you are fired from your position.
Voluntary job loss - if you leave your job through your own choice.
Pre-existing conditions - if you fall ill due to a pre-diagnosed condition.
Why would I need Accident and Sickness Protection?
It is impossible to predict the future, and whilst you may be fit and healthy now anyone could fall sick and be unable to work. People suffering long-term sickness can apply for employment support allowance (ESA), but this may not be enough to maintain their current lifestyle. An accident and sickness protection insurance quote will give you 12 months of tax-free benefits to help you concentrate on getting better.
If you became ill and were unable to return to work at all, this short-term cover may not give you the peace of mind you need. Take a look at our page on long-term income protection, otherwise known as accident and sickness insurance, for a policy that would cover you until retirement.
Why would I need Unemployment Insurance?
In an ideal world, everyone who gets made unemployed would be able to find another job straight away. But according to the Office of National Statistics more than 800,000 people in the UK have been out of work for more than 1 year following redundancy.
Unemployment insurance can be bought as a standalone policy or alongside accident and sickness cover. Unemployment insurance policies will give you the financial support for 12 months to find a new job and get back on your feet. Some unemployment insurance quotes also offer a free back to work service, giving you practical advice tailored to your individual circumstances.
What could Accident, Sickness and Unemployment cover be used for?
Accident, sickness and unemployment insurance can be used to replace your income- whether it’s safeguarding your rent payments, covering your utility and council tax bills, or even covering your monthly food costs.
However, some accident, sickness and unemployment cover UK policies are linked directly to mortgage payments or loan payments:
- Payment protection insurance (PPI) simply meets the cost of a specific debt, preventing you from defaulting. This is often the most expensive method of protecting a debt.
- Mortgage payment protection insurance (MPPI) would usually be paid out to you directly. You would then be responsible for meeting your mortgage payments.
Am I eligible for Accident, Sickness and Unemployment Cover?
To be eligible to purchase you must be over 18 and below age 65. You also need to be working and earning income - the policy is classed as income protection, therefore if you are not earning income, you have no income to cover.
You also need to be a UK resident and paying UK tax and be able to verify these points should you ever need to claim.
Most insurers require you to have been in a job for a minimum number of months before being able to take out sickness redundancy insurance or unemployment protection insurance, and almost all providers require you to be employed for at least 16 hours a week in permanent employment.
You will be asked details about your job, as well as your health, height, weight, hobbies and previous illnesses and injuries.
How long will I receive Accident, Sickness and Unemployment Insurance benefits for?
Accident, Sickness and Unemployment cover is designed to cover periods of temporary unemployment and sickness. A typical accident, sickness and unemployment insurance policy offering sickness insurance or unemployment protection insurance will only pay out for 12 months or until you go back to work rather than until recovery or retirement. If you are looking for a longer period of cover then take a look at our information page on long term income protection.
Can I get accident, sickness and unemployment cover if I’m self-employed?
Accident, sickness and unemployment policies are available for people who are self-employed. You need to specify your employment status with your insurer, and the terms may be a little different to regular ASU policies, but self-employed ASU policies do cover you in the event you can’t work due to illness or injury.
When can I start to claim Accident, Sickness and Unemployment Insurance benefits?
The period of time until your policy starts paying out is called a ‘deferred period’ or ‘waiting period’. You can choose your deferred period based around how long you may be able to survive on savings or how long you receive sick pay from your insurer. With a short-term policy like accident, sickness and unemployment insurance you can usually choose a deferred period up to 26 weeks; the longer the deferred period you decide on the more likely you are to find cheap accident sickness and unemployment cover.
Will my Accident, Sickness and Unemployment Cover premiums increase?
Potentially, yes. Unlike long-term income protection, accident, sickness and unemployment cover premiums can be increased by the insurer with just 30 days’ notice.
What should I watch out for when I compare Accident, Sickness and Unemployment Insurance quotes?
As with all unemployment insurance policies that cover accident and sickness there are certain exclusions which would mean you would not be able to make a successful claim. Our team of expert advisors will be able to explain more about these exclusions. For more information on accident, sickness and unemployment cover and other Income Protection products, compare Income Protection quotes online with us now.
Why should I compare quotes with ActiveQuote?
There are many types of accident, sickness and unemployment protection insurance on the market, and before you buy insurance it is important that you compare accident sickness and unemployment insurance quotes to make sure you are getting the right cover at the best price. Our online accident, sickness and unemployment insurance comparison system can search the market to find you the best unemployment protection plan. Benefits of using our insurance comparison include:
- Unemployment insurance UK quotes from leading providers
- Tailor your online quotes to fit your budget
- Buy accident sickness and unemployment protection instantly
- Free no-obligation advice from an expert