Designed to provide a replacement income, after an agreed waiting period, if you’re unable to work due to illness or accident. Premiums depend on your chosen benefit amount, term, age and health. Cover generally runs to retirement age (or 60, if earlier), and payments usually stop once you’re able to return to work.
Traditionally sold alongside mortgages, ASU pays a regular income if you’re unable to work due to illness, accident, or redundancy. It can often be split into components, with unemployment cover as an optional add-on for an extra premium — though benefits are usually limited to a set period, such as 12 months.
It’s worth comparing Income Protection and ASU closely, since one may suit your circumstances better than the other — and in some cases, the two can work well together rather than as alternatives.
I’m doing my first ever re-mortgage and I have had a million questions and asked for several different options and he has walked me through everything with no jargon and helped me wrap my head round it.”
Charlie helped us so much to get our mortgage and even Michael was every time really helpful. For sure we’ll be back to them again in the future.
