Accident, sickness and unemployment insurance? UK?

Question

my partner is a self employed builder and is looking for cover, we rent a house from the local council and most i have found seemed to cover mortgages only. i am just about to have a baby and im on maternity leave with statutory mat pay. we are looking to get cover as there is only 1 wage coming in and if anything happens that he cant work we wouldnt be able to pay any of our outgoings. whats the best cover and would it cover if he broke his leg playing a sport for example?

Answer 1

ASU is really designed for employed and not really suitable for your hubbys situation.  there are too many options to discuss here, due to not knowing too many facts on your particular financial details. Best go meet up with a IFA.

personally, with a new member on the way, i would recommend taking out a life policy for the duration of the child, say 20-25 years on a 'Level Term' basis, as the ASU you mention is only temporary cover.

Answer 2

go to an independent financial advisor and ask for their recommendations. They will tell you which policies will be suitable for you. Make sure that you read the small print and you ask any questions that you have.

Answer 3

ASU cover is designed for employed people to keep up the mortgage payments.  What your partner needs is income protection (previously called permanent health insurance).  That pays an income if he can't work through sickness or accident.  It doesn't pay if he's unemployed, but he's got some control over that.  Have a look at http://www.medibroker.co.uk/phiguide.htm...

Answer 4

Sounds like you are in the UK.

What you are after is a Personal Accident & or Sickness Policy and or a Permanent Health Insurance. These can be sold by independent financial advisers or general insurance brokers.

xxVP