Accident, Sickness and Unemployment – Also known as Mortgage Payment Protection insurance this policy provides cover for mortgage or loan payments in the event that the policy holder is unable to work due to accident sickness or unemployment. The claims payment is designed to mirror your mortgage or loan payment plus around 25% for ancillary costs such as insurance premiums. The term generally matches the mortgage or loan term. This type of policy normally only allows for 1 claim to be made during the term and will pay out for a 12 or 24 month period. After this the existing policy ceases and a new policy must be taken out. The policy has no maturity value.