Accident Sickness and Unemployment Insurance (ASU), also known as Income Protection Insurance, will provide you with supplemental income to meet your financial obligations in the event of sickness, accident, or unemployment. ASU pays out a monthly benefit stipend to cover the cost of mortgage and other related costs.
Mortgage Payment Protection
ASU will cover the cost of the monthly mortgage payments, and additional cover can be added to the individual policy to include other monthly costs. This type of insurance protects you from falling behind on mortgage payments in the event of sickness, accident, or unemployment.
ASU is a form of Income Protection Insurance that will protect the policyholder. ASU not only ensures that the policyholder can make mortgage payments, but it also provides a monthly benefit not restricted to the amount of the monthly mortgage payment.
Loan Payment Protection
Loan payment protection can be provided in your ASU policy by adding this cover to your ASU policy. The amount of the benefit to be paid will affect the monthly premiums, but ASU policies can ensure that financial obligations will be taken care of in the event of an unforeseen accident or unemployment.