Consumers considering taking out an income protection scheme should consider the quality and conditions of the policy they sign up - rather than just basing their choice on price, a market expert has claimed.

Accident, sickness and unemployment insurance (ASU) - also referred to as mortgage payment protection - provides you with an income should you be off work due to illness, after an accident or if you are made redundant.

It pays out a monthly benefit to cover your mortgage payments and other costs.

"Some of the sickness benefits now do pay out longer term and they are, in some circumstances, just as good as income protection, but you've got to be sure of the type of ASU policy that you're buying," Harry Katz, principal of financial advisory firm Norwest Consultants, said.

"Some firms … now have sickness and accident policies that are almost as good, and in some cases, just as good, as income protection plans. So you have to tread warily."

And people should make sure that they don't just look at the price of any policy they are thinking of taking out - but should rather concentrate on the small print, Mr Katz says.

"It's not just a matter of looking at the price. It's a matter of looking at the terms and conditions and … you've got to be sure of what it is that you're getting."