Accident, Sickness and Unemployment

Guitari

Hi All,

I'm looking for advice on a provider for (I think) Accident, Sickness and Unemployment.

I'm a self-employed guitar tutor and I have kids and a mortgage. I worry that if I lose the use of my hands/fingers then I shan't be able to provide for my family.

The above insurance category seems to only cover for 12 months. Is there such a cover that will protect income for the rest of the working life?

Many thanks!

kingstreet

Yes.

Look at combined ASU and Permanent Health Insurance (PHI), or remove the A&S cover and take Unemployment cover with PHI.

The combinations will work best based on the length of the deferred/waiting period at the outset. If you want very short, the ASU + PHI will probably be cheapest as you will have the A&S payout for twelve months and the PHI deferred period can then be 12 months to reduce the cost.

Get advice and be careful the unemployment cover will actually payout for a self-employed policyholder ceasing trading.

dunstonh

Rather than ASU, have you considered PHI (permanent health insurance)? This is more suited for self employed people than PPI.

Guitari

Thanks Kingstreet, would you have any recommendations for Unemployment+PHI?

Kind regards

ACG

There are only 2 providers I am aware of who will do unemployment plus PHI. Are you self employed? It is very hard to make yourself redundant and to be honest most ole traders just shut up shop if the business is not panning out or find a new job before it becomes too late.

Can you imagine putting yourself through a consultation etc?
http://www.acas.org.uk/index.aspx?articleid=4256

If not then you may find it better to save your money and put it towards PHI.