Archive for ASU

Accident and Sickness Insurance for the Self Employed

Accident and Sickness Insurance For the Self Employed

If you are just starting out in business or have been self employed for some time you should consider protecting not just yourself, but also your home and family against the possibility of you having an accident at work or home, or perhaps getting sick for a long time and not being able to work.

Both of these risks happen every day to someone unfortunate and it would be a brave person to jeopardise their home and business when accident and sickness insurance is widely available online to purchase in an instant cover that has been specifically designed for the self employed, and would remove all those worries.

Accident insurance is always sold as a policy in conjunction with Sickness insurance. This can usually be purchased individually as what is known as a disability cover or bundled up in a group of insurance products usually known as ASU (Accident, Sickness and Unemployment) or as Protection Insurance, commonly known as PPI.

When you purchase accident and sickness cover, you purchase levels of protection as units of what is known as monthly benefit. So for example if you need 1000 units of monthly cover you pay by the percentage rate cover unit determined by how old you are.

Typically a thirty year old in the UK who buys disability insurance from a well known independent supplier, will pay as little as GBP18 per month for GBP1000 worth of benefits, should they get sick or have an accident, leading to missing time off work.

ASU can be particularly cheap for self-employed persons if bought without the unemployment element of cover, which has significantly increased the cost of this type of cover in the near past due to the economic crisis.

Working for yourself is hard enough work alone, without having to worry about where the money is going to come from to pay the bills if you have to stop your business dealings for any time due to an accident or sickness.
Protection Insurance products such as mortgage, lifestyle and income protection, all offer peace of mind and cover for anyone who works for themselves or as a contractor, and is not covered by any existing employer accident compensation.

Be aware that any long term pre-existing medical condition usually excludes you from purchasing Payment Protection Insurance or Sickness Insurance cover.

Shop around the independent providers of ASU for accident insurance, as there are always good deals to be had in this very competitive market Sickness Insurance and Accident Insurance for the self-employed can be purchased quickly online from leading UK companies.

iProtect assure Income Protection Insurance clients are covered for Swine Flu

Specialist provider of lifestyle insurance and income payment protection insurance products, have today not only assured their existing customers that they are covered for swine flu and it’s after effects, but have also issued a rallying cry to those worried about whether they are covered or not, to switch any ASU policy today at no cost and with no exclusion penalties – you might even save a lot of money!

Spokesman for the company Dennis Haggerty said

“At iprotect we have always refused to sell Unemployment insurance without it being combined with Accident and Sickness cover as well. This is because our statistics show some of the most expensive and long running claims are for sickness. It is really the only way to be fair to customers to ensure they are covered in of work for any form of involuntary unemployment, not just redundancy.

Despite the recession and the huge increase in unemployment, still some 40% of the claims we receive are for Accident and Sickness related absence from work. Some of our past claimants have been so unwell they could not work for close to a year. The Swine Flue outbreak is a reminder to us all why it is important to have Accident Sickness and Unemployment cover, Further, if people become infected and potentially seriously debilitated by damage to their lungs and internal organs, quite possibly they could be many months off of work.

Modern medical science may avoid deaths in the UK, but if the strain mutates and prevents its victims returning to work, it is some comfort to know that at least the bills will be paid and benefits paid under their iprotect policy prevent their family finances spiraling out of control.”

InsuranceBlogger has had a good look at the iProtect website. It’s very easy to use particularly if you are looking to switch or combine covers or policies. The ratres are some of the most competitive on the market and their lifestyle insurance offers exceptional cover at very cheap rates.

Does Sickness Insurance cover ‘swine flu’?

A lot of questions are being asked in the insurance world this week regarding the impact of the H1N1 virus to insurance claims.
With the World Health organisation now classifying the virus at five out of six on the scale of pandemia, it only needs one more country to confirm inter human transmission for it to become the first Flu pandemic since 1968.

So what will be the impact on the Insurance World?

Insuranceblogger doesn’t beleive that we are going to see a doomsday viral situation much hyped by films like 28 Days later or Survivors, so the impact on on the life insurance fund will be negligable. In the developed world the largest risk to human life appears to be from the associated pnuemonia, which unless extremely aggressive is unlikely to kill more people than the average seasonal flu.

Like in 1968, the largest impact will be on the loss of business if large sections of the workforce are forced to take a couple of weeks off. It is also possible that businesses will be forced to close by the Government in a bid to stop transmission if there are sporadic outbreaks that can be controlled by quarantine and restrictive movement measures may be imposed by local authorities. If this becomes a fundamental risk, commercial insurance business interruption cover will not be in place.
If this situation occurs some sort of Government led compensation fund will need to be set up for the business interruption excess, or we could see more businesses going to the wall! Just what the doctor ordered in the middle of a recession!

On a personal level the millions of us who have personal sickness insurance in the form of ASU or protection products will be keen to know whether they are covered for the H1N1 virus.
We spoke to Simon Burgess, the managing director of Burgesses Insurance the UK’s leading provider of Sickness and Unemployment Insurance. He assured us that it has been confirmed by all his underwriters that all Burgesses clients are definitely covered in the event of contracting this variant of the flu.

……………. Anyone stil out there? …… hello?