The Daily Telegraph today stressed the need for mortgage borrowers to have adequate insurance protection to protect themselves in this uncertain economic environment.
 
They report  Julie Smith, of AWD Chase de Vere, saying: "Income protection should be at the top of your list of insurance priorities, particularly in the current economic climate. You need to protect your income, because without it, your financial situation could deteriorate quite rapidly."

Accident, Sickness & Unemployment (ASU) insurance is seen by brokers to be the minimum level of insurance cover that borrowers should have in place. As the name suggests, it promises to cover your mortgage payments should you be unable to work.

Roy Berry of The Mortgage Provider believes that rising unemployment will be a problem in the coming months "... as the economy cools, unemployment in certain sectors will be inevitable. Act now by contacting your broker: generally speaking,  ASU costs about as much as a Sky subscription or a cheap meal out with wine".

The benefit is paid tax free.