Income Protection

Sometimes called Permanent Health Insurance (PHI), Income Protection is designed to give you a replacement income if longer term illnesses or accidents stop you from working, usually for the rest of your working life. The cost is dependent on your age, sex, occupation and how quickly you want the replacement income to start if you are making a claim.

Usually you have a choice of starting periods from 4 weeks, 13 weeks, 26 weeks and 52 weeks. The cost falls the longer starting period you choose. Occupations are normally graded by risk from 1 to 4 where 1 is a “safe” desk job and 4 a “risky” manual job. Therefore an office worker who wants a 13 week waiting period would expect to pay less than a scaffolder who wants a 4 week waiting period.

By using a combination of Sickness and Accident policies and Income Protection policies most people can find an affordable solution