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| What
deferred period or waiting period should
you have? |
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With ASU cover you have
the option to change the deferred or
waiting period. The longer the deferred
period then the cheaper the monthly
premium. However the deferred period is
best set to match the time when your
income would drop.
Deferred Period Example 1
- John receives full sick pay for 3
months. However he has only worked for
the company for 1 year so he doesn't get
any redundancy package lump sum. John
would probably set the deferred period
on his ASU cover policy to 3 months for
Accident and Sickness and 1 month back
to day 1 for unemployment.
ASU cover Waiting Period Example
2 - Roy has been working for
the same company for 20 years. If made
redundant he would get a lump sum of
£20,000. However he only get 1 months
sick pay if he is off sick. He would
probably only and Accident and Sickness
policy with a waiting period of 30 days.
Because he he gets 1 month full pay he
doesn't require back to day 1 cover.
The main factor when working out what
deferred period is required is to work
out when your income would drop. To get
quotes or expert advice from a financial
adviser fill in the enquiry form on the
right. |
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**Take out life insurance before 31st
December 2010 and receive a £25.00 gift voucher. Voucher sent
once 3 months premiums are paid. If you
cancel within this period the voucher
will not be paid. One voucher per
customer. |
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