How long can I have cover in place for?
Accident sickness and unemployment (ASU) cover provides policy holders with a short term income if they are suddenly made redundant or suffer from an accident or medical condition which prevents you from being able to work. This cover will normally last between 12-24 months and will pay out a percentage of your income.

If you already receive sum form of redundancy benefit, then stand alone unemployment cover will be far more affordable than ASU. Unemployment cover is an additional benefit available with any of their life policies and again pays out a percentage of your income for up to 2 years.

..How many years does it pay out for ?
Unemployment cover may pay out for upto 12 or 24 months, this will depend on how long you initially require the cover for and the specific insurance company in question.

When does unemployment cover start to pay benefits?
The waiting periods varies a lot between different insurance providers and will depend on how long you are able to wait before payment begins. The waiting period is considered the time between you becoming unemployed and when you receive your first benefit. The waiting period can range between 30-90 days or even longer depending on the customer. Generally the longer you can wait the lower your premiums will be.

How much will it cost and what is the maximum monthly pay out?
Accident sickness and unemployment cover is based on your monthly income and for every £100 of income you should expect to pay between £2 and £6. If you select stand alone unemployment cover this will cost around 80% less than ASU, but this cover depends on whether your employer provides any existing unemployment benefits. Per month the maximum sum you can receive is usually around £2500.

Are there any age restrictions?
In order to claim unemployment cover you must normally be:

  • Aged between 18-60 .
  • A permanent resident in the UK.
  • You must have been working in the UK for at least 6 months, working a minimum of 16 hours a week.

In order to make a claim you must usually have been made involuntarily redundant or if you are unemployed your business must have gone into liquidation and have registered with the appropriate government agencies.

Can I claim more than once?
With unemployment cover, customers are sometimes eligible to claim more than once if they become unemployed again, 6 months after their first claim.