Find the Best Unemployment Insurance Cover

Unemployment Insurance is commonly called A.S.U - Accident, Sickness and Unemployment Cover but is also known as M.P.P.I - Mortgage Payment Protection Insurance and P.P.I - Payment Protection Insurance.

Product	Purchase	Time until Benefit Commences	Length of benefit
M.P.P.I Mortgage Payment Protection	Accident, sickness and redundancy. Policy commonly used specifically to cover the cost of mortgage and other associated costs.	Typically 1 month after you stop earning.	Typically this product will pay a regular benefit for a 12 month period.
P.H.I Income Protection or Permanent Health Insurance	llness or disability. This policy will cover part of your income. Usually a set percentage.	Varies from 1,3,6 or even 12 months.	Continues to pay out a tax free income until you return to paid employment.
P.P.I Payment Protection Insurance also known as Account Cover or Payment Cover	Accident, sickness, redundancy or death. Used to cover repayments on loans, mortgages, store cards and other debts.	Typically 1-2 months.	Monthly amount paid for a limited time, usually 12 months.
A.S.U Accident Sickness and Unemployment	Provides a set agreed income if policy holder is unable to work for any reason that is out of their control ie; unemployment, sickness or injury.	Decided before policy commences. Typically 1-2 months after policy holder is unable to work.	Pays monthly benefit for an agreed term usually 12-24 months or until you return to work, whichever comes first.

The principle behind all of these insurance products is the same; they provide an income if you are unable to work for reasons beyond your control.

It is always worth confirming with your employer what insurance the company may have as some companies purchase an insurance known as Group Income Protection Policy. This product covers the employees of the company against loss of earnings due to accident and illness. However, it is important to note that it doesn’t provide redundancy cover.

Guide Contents

Unemployment Insurance Cover
Finding the best unemployment insurance cover
Buy unemployment insurance cover
Frequently asked questions about unemployment insurance cover
Where to get more help about unemployment insurance cover

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