Accident, Sickness and Unemployment Insurance will pay out a regular amount if you can't work for health reasons or redundancy. It can protect your ability to maintain credit repayments and help you to avoid getting into debt if you are unable to keep up your repayments due to accident, sickness or unemployment.
The policy are very easy to buy, as there are very few eligibility requirements. Typical requirements are that you are:
- aged 18 to 65, or higher in some circumstances,
- in work that is not temporary, casual or seasonal,
- employed for at least 16 hours a week or have been self-employed for a period of time.
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