Unemployment Insurance

As we all know we are seeing Unemployment increasing, so therefore Unemplyment Insurance has never been more important.

Accident Sickness and Unemployment Insurance protection (ASU) provides you a monthly benefit if you are unable to work as a result of an accident, illness or even if you lose your job that is not your fault such as involuntary redundancy.

Some policies provide income insurance and others the monthly benefit must be linked to the monthly payments on a debt such as a mortgage plus related expenses. Mortgage linked ASU polices are typically called Mortgage Payment Protection (MPPI).

Here’s some of the main advantages of taking out a life insurance policy.

To pay off outstanding debts. If you have any debts that would remain unpaid in the event of your death, a life insurance policy can be used to pay these off.

To replace lost income. If your family are reliant on your income, a life insurance policy can provide the security of knowing that they will continue to receive this income in the event of death.

To pay final expenses. This includes funeral and medical costs.

To pay for your children’s education.