Permanent Health Insurance (PHI)

For most of us, our income funds everything. If it ceases, everything else stops, so how do you ensure its continuation? The answer is PHI, also now known as Income Protection Insurance. This is a protection policy that pays out a regular amount if you are unable to work because of sickness, accident or disability.
PHI can replace a percentage of your income, less any state benefits and cover provided by your employer. The payments are paid tax-free and commence after a period that you specify. You can also decide whether, in the event of a claim, you require the benefit payment to remain level or to escalate annually.

Critical Illness Protection

Critical illness protection is an insurance that pays out on the diagnosis of certain specified critical illnesses. The illnesses covered vary from policy to policy, but they usually include six core conditions: cancer, heart attack/coronary bypass surgery, kidney failure, major organ transplant, multiple sclerosis and stroke.
Generally within 14 days of a claim for a specified illness being admitted by the insurer, they would receive a tax-free lump sum payment.
The financial consequences of not having critical illness protection could be significant. Calculate the size of your outstanding mortgage, liabilities and other financial commitments. Would you be in a position to repay them if you were diagnosed as suffering from a critical illness or do you have a shortfall?

Life Assurance Protection
It’s not a particularly pleasant thought planning for your premature death. However, if you have dependants, it’s essential. Life assurance is designed to do one of two things: replace lost income for dependants or provide a capital sum to repay liabilities. There are numerous cost-effective options which, for a few pounds a day, should not be ignored.

Don’t leave it to chance – e-mail or contact us so that we can help you make an informed independent assessment of your situation.