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Accident, Sickness & Unemployment Insurance:

If you have an accident, become sick or lose your job, under the Department of Social Security rules, people with a house bought after 1st October 1995 have to wait nine months before they receive help with their mortgage from the State. And even then, they MUST be in receipt of income support or under the new department of social security rules, which means your savings must not exceed £8000.

In such circumstances it is easy to see that there could well be a danger of losing your home through not keeping up your mortgage payments.

By taking out ASU insurance alongside your mortgage, you can set the deferral period yourself, knowing that your mortgage repayments will be covered after a certain number of weeks or months for a given period.