Accident sicknesses and unemployment insurance does what is says on the tin, this is a basic insurance policy that will cover you in the event of you losing your job, becoming sick and unable to got to work or to cover you in the event that you are made redundant.
In these challenging times companies are closing there doors and letting staff go in bigger and bigger numbers.
For many people who see uncertain times ahead an insurance policy that will protect them from these problems is a god send.
But you do need to be clear on a number of points to claim for your ASU policy Redundancy checks the small print as if people have already been made redundant from your place of work you may find the policy will be null and void.
To actual claim you must have signed on at the job centre and be claiming job seekers allowance, also know as dole money.
If you have not signed on you can not prove that you are unemployed and the insurance company will not pay out.
You can get cover for 12 or 24 months depending on whether you can afford the premiums, to keep the premiums on the insurance low you can have a differed period.
This is where by the insurance policy will not pay out for the first 30, 60 or 90 days after you lose your job.
If you will get some form of redundancy pay you could save yourself a lot of money by taking the 90 differed and keep the premiums low.
To claim for accident or sickness you will have to be signed off by your doctor and be able to produce documentation to show that you are unable to work, with out this paperwork the insurance company will not pay out your claim.
For many people the benefits of having an ASU policy in place far out way the downsides of having to dip into your pocket each month.