Permanent Health Insurance - PHI

Permanent health insurance
Clearly there are illnesses and chronic conditions plus permanent disabilities which are not going to be cured or go away. Statistics for working people between the ages of 20-64 years indicate that the possibility of a long period of illness must be taken seriously. At 31 May 1997, over 1.7 million men and women had been unable to work for more than six months and were claiming the Incapacity Benefit from the State.

Remember, the State does not provide adequate protection in the event of sickness and accident and some type of income protection in these times is invaluable.

A Permanent Health Insurance policy will provide an income if you are unable to work through either, sickness or accident, no matter how it is caused. The policy pays a monthly tax-free income for a set length of time - normally until 65.

A permanent health insurance policy can be readily used to protect the repayments of a mortgage, as the term selected can easily run along side a 25-year mortgage term, or it maybe used as a stand alone policy to protect and replace your income. The income payout can be level or set to rise with inflation. It pays the income as long as doctors agree that you are unable to work for health reasons or until the end of the policy term.

The benefit therefore is payable until recovery or until a chosen date which ever is earlier. The typical permanent health insurance policy is subject to deferred periods of 4/8/13/26/52/104 weeks and these are chosen at outset, usually these take account of any benefits provided by the employer.

If you would like an online permanent health insurance quote or you would like to speak to a permanent health insurance advisor, phone us on Tel. 01254 660101, our lines are open 9am - 9pm Monday to Thursday and 9am - 5pm Friday. - CLICK HERE - for an enquiry form for permanent health insurance