Health Insurance

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Permanent Health Insurance ( PHI ) should not be confused with Private Medical Insurance (PMI).

This is an insurance plan that provides an income if you are unable to work through disability, no matter how it is caused. The policy pays a monthly tax-free income for a set length of time – normally until retirement. The payout can be level or set to rise with inflation. It pays as long as doctors agree that you are unable to work for health reasons.

The maximum cover you can have varies (possibly up to 65%) of your provable income before tax. This is paid tax free, so should you make a claim you will only be a bit worse off than you were before. The insurers limit the amount of cover you can have so that you have an incentive to get back to work!

    Advisers will go through a process that will enable them to advise based on your needs.

    DISCLAIMERS

    Your cover will cease if you do not keep up the premiums.