How much income would you receive if you were unable to
work due to an illness or
injury?
Whilst most people take some form of cover for mortgage
repayments,
they still need money to live and pay bills
and normal living expenses.
Income Protection plans are more commonly known as Permanent
Health Insurance
(P.H.I.)
The Plans can be written to provide a level of income,
either monthly, annually or
different periods to suit your requirements. The cost
of Permanent
Health Insurance can vary depending on: -
- Your age
- Your sex
- Your occupation
Care must be taken when selecting
your Permanent
Health Insurance contract and consideration given to the
level of benefit set, most companies
place
a restriction
of
60% of your earnings (some
restrict it to 50%) and proof of earnings may be required
should you claim.
Whilst you will be able to claim some assistance from
the appropriate government
department, the amount they will pay will be moderate when
compared to your total
income which make it even more important that you consider
Permanent
Health Insurance.
For more information and to discuss
your requirements please contact
us.
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