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ASU Redundancy Protection (Accident, Sickness and Unemployment)

Why do you need ASU Redundancy Protection to protect your Mortgage

Becoming unemployed can cause many problems, not least the fact that there simply may not be any money to pay the bills. Most people will agree that their home is their most important material possession, yet if mortgage payments cannot be made, the security of a home can be taken away.

You cannot rely on state help to cover your mortgage payments if you cannot work. There is no help for the first nine months of unemployment or disability for mortgages taken since October 1995. Existing borrowers only qualify for benefit if they qualify for Income Support.

The ASU Redundancy Protection Benefit period is the length of time you can claim monthly payments for, and these vary for each policy. You can select the time period you want to be covered (1 year, 2 years etc) but the longer you want the cover for, the more expensive the premiums will be. There is always an Initial Exclusion period at the start of the contract, during which time no claim can be made. This normally applies to unemployment only and is 30, 60 days or longer.

Most policies also have an excess period, for each & every claim. An amount of days 30, 60 or more which are excluded from the claims payment. For example with a 60-day excess, and a claim for 65 days, 5 days are paid.

Alternatively some have a waiting period after which time the claim is paid in full. With a 30 day waiting period, on the 31st day of unemployment or disability the claim is back dated to day 1 & paid in full.

Most providers will cover your mortgage payment and a little extra for mortgage related bills, such as pensions, insurances etc. They usually offer an extra 5, 10 or even 25% but may have conditions on what this money can be used for.

The Finance House search

You can search online below for ASU Redundancy Protection or contact us and we will give you advice and search from a large range of suppliers.

ASU cover can be taken out at anytime during the term of a mortgage provided you qualify under that particular provider’s conditions.

The Finance House can also help you search on line for the best rates from quality selected insurers of ASU Redundancy Protection . You can search in a few minutes and you receive a comparison table ordered by lowest monthly premium. It is then possible to fill out an application and apply for the policy online.

Search here if you are aged between 18 and 49

Search here if you are aged over 49


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