Do you have Accident, Sickness & Unemployment cover?

glenimp617

glenimp617

glenimp617

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30 Sep 2005
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It's that time of year when I go through the bills looking to see if we are getting value for money. Keep looking at our ASU insurance and wondering if it's really worth the £40 a month I'm paying.

I hear lots of people don't have it, or think it a waste of money

Interested to hear everyones views

My job is quite secure, it's low risk, I'm young and healthy (touches wood), but there's always that doubt in my mind that is anything were to happen how would I pay my bills etc etc

Guess that's the risk you take isn't it
 
Yes, but if I lost a finger or hand, I don't want the world collapsing around my family.
As ever insurance is the thing you buy hoping you never need it.
I wouldn't like to be without it, but its costs a pretty penny.

Life insurance and Income protection for myself and my wife, total about £3300 a year.
 
I thought I was fit and healthy until I pulled my back at work. Found out 4 of my discs have dried out and are starting to harden, nerves are starting to rub on my vertebrae that's due to over grown nerve canals. Its been nearly 4 months off work my right leg has about 40% less power than my left (measured) and starting to suffer muscle wasting in my leg. Lost my job last week due to incapacity (went through the proper procedures) All this time I have been on basic sick pay as I haven't done a year with the company yet.

You never know what will happen risk analysis of my job and the fact I have 4 kids lead me to having 3 months wages in the bank as a backup in case of bone breaks, car crash etc. But not to be within a stones throw of a wheel chair for the rest of my life.

£40 from my £2,600 mothly salary, Yes I would recommend having the cover. You never know what may happen and if kids are involved, well just telling them we will be moving house soon and there will be allot less going out and holidays,was enough to nearly break me. All for £40 pcm.
 
Not yet, it is something I really need to look into.

It's put me off as the last rep that came round to show us this was really pushy trying to get you to sign up there and then.
 
OP, it's your call really!
Can you afford NOT to have it if things go wrong?
That's the question you need to ask yourself.

Everyone has different circumstances and things change as time goes on - kids grow up and your responsibility to finance family members is reduced. It's something that needs reviewing on a regular basis.

Obviously we all hope things will never go wrong but in reality sometimes they do. If you don't cover yourself it's always a gamble!
 
Hikari Kisugi said:
Yes, but if I lost a finger or hand, I don't want the world collapsing around my family.
As ever insurance is the thing you buy hoping you never need it.
I wouldn't like to be without it, but its costs a pretty penny.

Life insurance and Income protection for myself and my wife, total about £3300 a year.
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Jesus wept that seems steep
 
No1newts said:
Yes.

I would say its vital but its up to you as to whether or not you want to run the risk.
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Out of interest, do you have dependants and you believe it is essential because you do?

This thread could do with a poll actually, as I'd be interested in the results.

1) Yes, and I have dependants and a mortgage
2) Yes, and I have dependants and do not have a mortgage
3) Yes, and I do not have dependants but have a mortgage
4) Yes, and I do not have dependants and do not have a mortgage
5) No, and I have dependants and a mortgage
6) No, and I have dependants and do not have a mortgage
7) No, and I do not have dependants but have a mortgage
8) No, and I do not have dependants and do not have a mortgage


Think that is all the relevant options?
 
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~Divine~Wind~ said:
Jesus wept that seems steep
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Indeed, I am looking through the various aspects of it.
Income protection, critical illness cover, life cover, and all of it would be deemed necessary I believe. I also think the costing for the various policies are reasonable individually. Must run it past my financial bod, as it is a slap load of money bleeding out.
 
D.P. said:
Yes but paid by my employer
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Same, except that we don't get unemployment cover. My company's critical illness / disability insurance policy is said to be extremely expensive because it covers everyone who has been working for over six months and if required, it will pay out 75% of the gross salary until it is no longer required, which could be for the rest of someone's working life. For people my age, that is 35 - 40 years.
 
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