Unemployment Insurance

UK unemployment insurance. See how much you can save. Get a great comparative quote for Accident Sickness and Unemployment insurance from up to 8 separate UK companies.

Mortgage Payment Protection Protect your mortgage payments in the event of you becoming unemployed or unable to work due to accident or sickness more info	Rental Payment Protection Protect your rental payments in the event of you becoming unemployed or unable to work due to accident or sickness more info
Loan Payment Protection Protect your loan payments in the event of you becoming unemployed or unable to work due to accident or sickness more info	Income Protection Protect your income in the event of you becoming unemployed or unable to work due to accident or sickness. more info
Life Assurance Protect yourself and your family in the event of death or critical illness. Level or decreasing cover available at very competitive premiums more info	Long Term Accident & Sickness Protection Protect your income until retirement in the event of you becoming unable to work due to accident or sickness more info

top

Mortgage Payment Protection

Mortgage payment protection insurance is designed to pay your mortgage commitment in the event of Accident Sickness or Redundancy. Mortgage payment protection is also known as MPPI, Payment Protection, ASU and Accident Sickness Insurance. This policy will cover your residential mortgage but does not cover buy to let mortgages. You can insure your mortgage payment plus extra to cover other regular monthly commitments. The additional amount offered depends on the insurance company. The insurance can pay out up to £2000 per month, depending on the provider.

top

Rental Payment Protection

Rental Payment Protection insurance is designed to pay your Rental commitment in the event of Accident Sickness or Redundancy. Rental payment protection is also known as Payment Protection, ASU and Accident Sickness Insurance. You can insure the rental payment plus extra to cover other regular monthly commitments. The additional amount offered depends on the insurance company. The insurance can pay out up to £2000 per month depending on the provider.

top

Loan Payment Protection

Loan Payment Protection insurance is designed to pay your Loan commitment in the event of Accident Sickness and/or Redundancy. Loan payment protection is also known as Payment Protection, ASU and Accident Sickness Insurance.  This policy usually covers the amount of the loan payment only but some providers will offer up to 25% extra to cover other monthly commitments. The insurance can pay out up to £1000 per month.

top

Income Protection

Ideal for those without a mortgage, rent or loan. Income Protection Insurance will pay out a fixed monthly sum in the event of Accident, Sickness or Unemployment. It is designed to replace your income and will ensure your monthly commitments are met and your family are protected if you become unemployed or unable to work due to accident & sickness. Policies will pay out for a maximum of 12 or 24 months. You do not need to have a mortgage, rental agreement or loan agreement to be eligible to take out this policy.

top

Life Assurance

This is the simplest and cheapest type of life insurance, and is known as term insurance because you choose how long you’re covered for, say, 10, 15, or 20 years etc (the term). Non-smokers receive discounted premiums. As a couple, you can also take out term cover in both your names, with the policy paying out if either of you die during the term. Premiums are usually fixed for the whole term.

Critical Illness cover

This policy pays out a lump sum if you’re diagnosed with a critical illness, such as cancer, a stroke, MS, a major organ transplant, coronary artery bypass, heart attack and kidney failure. Each provider has a set list of critical illnesses that they pay out for. This can either be taken out as a stand alone policy or included with life assurance. Non-smokers receive discounted premiums. Pre-existing medical conditions are usually excluded or the cover is restricted. For a claim to be successful, you normally have to survive a month following the diagnosis. If you include life cover in the policy this clause will not apply. Premiums are either fixed for the whole term or the premiums are reviewed on a regular basis (usually every five years) and can go up. You can use the payout to pay for medical treatment, pay off your mortgage or for anything else.

Life or Earlier Critical Illness Assurance

This policy pays out if you die or contract a critical illness covered under the policy. Each provider has a set list of critical illnesses that they pay out for. Non-smokers receive discounted premiums. Pre-existing medical conditions are usually excluded or the cover is restricted. Premiums are either fixed for the whole term or the premiums are reviewed on a regular basis (usually every five years) and can go up.

top

Long Term Sickness Protection (Also Known as PHI)

Please note that this type of policy does not cover unemployment or redundancy.

If you have an accident or suffer from a long term illness you may be unable to work.  Many suffer financial hardship as a result and the state offers only minimal help. PHI (Permanent Health Insurance) may be the answer. PHI is also known as income replacement insurance, income protection insurance, long-term disability insurance, disability income insurance or personal disability insurance.

This type of policy replaces a pre-agreed part of your income if you are unable to work for an agreed period of time because of illness or disability. It continues to pay out until you can return to some kind of paid work, reach retirement, or the policy term ends, whichever is sooner.

PHI products have a waiting period before they will start to pay out (usually 4, 13, 26 or 52 weeks). The longer you agree you’ll wait, the lower your premiums, so it is important you find out what income you can get from your employer, or other insurance (such as mortgage payment protection). Premiums also depend on your gender, occupation, health and lifestyle. (Non-smokers receive discounted premiums). Premiums are either fixed for the whole term or the premiums are reviewed on a regular basis (usually every five years) and can go up.

Insurance companies have different definitions of what constitutes long-term illness. Usually to trigger the policy’s benefits you must demonstrate that you’re unable to follow your usual occupation as a result of sickness or accident. Some policies insist that you must be unable to work in any occupation before benefits are paid.

This cover might not be available to you if you have existing health problems, or a high risk occupation.

 

Sometimes it pays to take advice if you want to know more about the benefits of each individual plan.

Call us on 0844 875 55 33 quoting ref WSS20