Permanent Health Insurance

For many people, becoming seriously ill has impact on their lives beyond their health. Permanent Health Insurance helps you to maintain a standard of living following an accident or illness which prevents you from earning an income.

Statutory sick pay is unlikely to provide adequate income protection in these circumstances and so Permanent Health Insurance for many provides essential income protection.
You can get sick pay cover for a wide range of illnesses and accidents including mental illnesses, heart disease and cancer. Click now and see how much it would cost to protect your income protection with a permanent health insurance quote.

Permanent Health Insurance or Income Protection is designed to pay you a regular tax free monthly income if you are incapacitated and unable to work due to illness or injury.

The amount of cover is based on a percentage of your gross earnings and is suitable for both employed and self-employed people.

There is no limit on the number of claims you can make and if you are never able to work again it will be paid until your selected retirement age (Max 65)
It is also possible to take out income protection cover through your employer.

Anyone who does not get paid by their employer indefinitely when they are off sick from work should consider a PHI policy. This is because the benefits provided by the state for statutory sick pay and furthermore incapacity benefits are not sufficient for most people to maintain their current standard of living. The need for PHI is not merely limited to those people who are employed. You can argue that there is a greater need for Self-employed people to have a PHI policy in place as if they do not work they will not have an income from day one. This makes the need for private insurance provision much greater in order to maintain your lifestyle.

People who are unemployed or house persons are also eligible for PHI up to a level of £5054 per year. This would be needed for people who undertake vital duties within the household (such as carers) who are not paid a wage through and employer. The minimum age is 16 and maximum age is 59 for which a client can apply for income protection. As the criteria for state provision of incapacity benefit becomes more stringent, the need for everyone to consider their need to maintain their lifestyle through their income is becomes more apparent.