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
| 
