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Work in a trade? You might want to consider ASU insurance

Health insurance, life insurance, income protection – there are a lot of policies that are likely on your radar as a tradesperson, all of which are all designed to offer a certain level of support in trying times.

But Accident, Sickness and Unemployment (ASU) insurance could prove to be a safer option, due to the breadth of cover.

What ASU covers

ASU protects for what you would expect given its name. This policy could support you if you have:

  • Been made redundant
  • Suffer an injury or become ill, and you’re unable to work

Typically, you’ll be covered for 12 months, but policies can vary.

ASU vs MPPI
Some policies, like Mortgage Payment Protection Insurance (MPPI) cover only specific loans. It won’t help with other essential outgoings as with Income Protection (IP) or ASU, however IP doesn’t always cover redundancy.

ASU challenges
Waiting periods on ASU policies are there to weed out fraudulent claims, which means if you have taken out cover and are made redundant or become unwell shortly after, you may find it difficult to claim, even if you’re genuine.

As with health and life insurance, pre-existing medical conditions will probably be excluded, and those over 65 or who are self-employed may also find it hard to access this cover.

If you would like to find out more about how ASU Insurance can support you, or you are struggling to get adequate cover, speak to the team at Riverdale Insurance who can offer you independent advice and guidance.

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