Accident & Sickness insurance, is also known as mortgage payment protection. It is designed to provide you with an income to meet your outgoings in case of:

• Absence from work due to illness
• Absence from work due to an accident

With these kinds of policy, you pay a monthly premium for the level of cover you need, if you can’t work, you will receive that amount of money each month to cover your costs and spend as you wish. Policies usually pay out for up to a year or until you return to work, whichever happens first.

You can choose the amount of benefit you would like to receive, although there are some limits on the maximum amount. The premium will be a percentage of the amount of monthly benefit you would like to receive. Benefits are usually payable for a maximum of 12 months.

There are some exclusions however that you usually would not be covered for:

• deliberate self-injury
• riding motorcycles
• dangerous sports or occupations
• working as a professional sportsperson
• any injury or condition related to normal pregnancy, stress, backache or which you had prior to your application for cover
• AIDS-related conditions
• conditions due to drug and alcohol abuse or criminal activity
• sickness which occurs during the first 60 days of your policy

Note – Although these are typical exclusions this may depend on the individual provider.

Eligibility

Usually, provided you are over 18 and under 60, and you normally reside in the UK, Channel Islands or the Isle of Man, you can apply for an accident & sickness policy as long you are in employment or self-employment for at least 16 hours per week, and have been so for the last 6 months.

At Blestium Financial Services, we can help find the right protection for you, get in touch to find out more.