Income Protection Insurance is a long term facility and ASU/MPPI is a short term facility, the details of each are listed below;

 

Income Protection Insurance – It’s Aims:

This type of cover is designed to pay you a long term regular income should you be unable to work through illness, disability or accidental injury that leads to incapacity and a loss of earnings.

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Under current legislation (tax year 2014/2015) this benefit is tax free and will continue to pay you a percentage of your weekly/monthly income until you reach the end of the chosen term, can return to some kind of paid work, die or reach retirement whichever is sooner. Designed to give you peace of mind Income Protection Insurance is available typically up to the age of 70.

 

ASU & MPPI Cover

Accident Sickness and Unemployment Cover (ASU). This is a short term facility with a maximum payout of up to 12 or 24 months. You can have ASU cover whether you have a mortgage or not.

 

This Payment Protection Insurance is optional. There are other providers of Payment Protection Insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk.

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A typical monthly cost for Monthly Payment Protection Insurance is £6.64 (for customers aged 18-65) and £5.34 (for customers aged 31-35) for every £100 of monthly benefit. 

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*Terms and conditions apply. You will receive a full policy document upon application. The policy document will set out the terms, conditions and limitations of the product*