Last Updated: 11th May 2023
Accidents, illnesses, and job loss can happen to anyone at any time, and without proper financial protection, it can lead to a significant financial burden. This is where Accident Sickness & Unemployment (ASU) cover comes in.
Accident Sickness & Unemployment (ASU) cover is an insurance policy designed to protect you financially if you are unable to work due to an accident, illness, or redundancy. There are different types of ASU cover, including accident-only, sickness-only, unemployment-only, and combined cover.
Accident-only ASU covers you if you suffer an accident that prevents you from working. Sickness-only ASU covers you if you are unable to work due to an illness. Unemployment-only ASU covers you if you lose your job due to redundancy. Combined cover is a comprehensive policy that covers all three areas: accidents, sickness, and unemployment.
The benefits of having ASU cover include financial protection in case of unexpected events, peace of mind, and the ability to maintain your lifestyle while you recover or search for a new job. However, there are some common exclusions and limitations to ASU cover, such as pre-existing medical conditions and waiting periods before you can make a claim.
Choosing the right ASU cover can be challenging, but there are some factors to consider to help you make an informed decision. One of the most important factors is the cost of the policy, as ASU cover can be expensive. You should also consider the level of coverage offered, including the maximum benefit amount, waiting periods, and any exclusions or limitations. It’s also important to choose an insurer with a good reputation and a history of paying out claims.
To find the right ASU cover for you, you can compare different policies from various providers. At Kind Financial, we can help you navigate the market and find the best policy for your needs.