ASU, Mortgage Payment Protection Insurance, whatever you name it we just think of it as 'Peace of Mind' insurance. This type of plan will pay you a tax-free benefit every month for 1 year if you are unable to work.

Peace of Mind
Accident, Sickness and Unemployment Insurance is an income protection policy that is designed to give you peace of mind that should you be unable to continue providing for yourself or others due to redundancy or disability, you won't be left in complete financial disarray.

Income Protection
Unlike mortgage payment protection policies, this type of income protection is not designed to specifically pay off your mortgage or other loans, nor will it pay for private medical treatment or special needs that arise through disability. What it will do is provide you with a regular income if you become unable to work as a result of accident, sickness or disability.

Policies
Unlike payment protection policies, the amount of benefit that is paid out it is not linked to your mortgage or other loan payments, but your overall level of income.

Legalities
Mortgages taken out since October 1995 will receive no DSS assistance for the first 9-months that you are unable to work. To make matters worse, if your house is worth too much or you have too much money saved (including redundancy payments) or your partner works more than 16 hours per week, then the help you get with your interest payments after those 9-months could vary between nothing and very little.