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Home Insurance UK Guide
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Permanent Health Insurance
What is Permanent Health Insurance?
This is an insurance policy that will pay you a percentage of your income, often until retirement, should you become unable to work due to ill health - usually regardless of the causes.
If this happens to you it will threaten your home unless you are fully covered. Forget state benefits. They are unlikely to help you.
Your employer may offer some type of insurance but you would need to check what it is carefully. No matter how much they may love you it's very unusual to carry on being paid more than 6 months after someone's stopped working because of ill health.
You normally get 50% to 60% of your income from a Permanent Health Insurance pay out and it's inflation proof.
Watch out for...
- The
exact definition of disability used by the insurer
i.e. exactly what your being unable to work means. Look for
the magic words "own occupation". This
means the insurer can't claim that you may have been a PE teacher
but, now that you're paralysed, you could work from home sewing
mailbags and so they won't pay up...
If you see "own OR ANY occupation" watch out. Any occupation means if the ex gym teacher can sew mailbags then hey there are plenty of mailbag sewing jobs about...
- A
policy that can increase its premiums
in the future. You need to know what you will be due to
pay out in the future and not have premiums increased
e.g. when you're getting older and the insurer starts thinking
you may be more likely to make a claim...
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Read on
Household
Insurance
(aka Buildings and Contents Insurance)
Mortgage
Payment Protection Insurance
Life Insurance
Mortgage
Protection Decreasing Term Assurance
Permanent Health Insurance
Critical
Illness Insurance
Mortgage
Indemnity Insurance
About
Insurance 'tie ins" / bundling
Insurance
Tips
Read On about
Fixed
Rate
Capped
Rate
Discounted
Rate
Read On
Interest
only mortgages
Interest
repayment arrangements
Read On / Mortgage Guide
Choosing
a Mortgage
Different Mortgage Types
Re
Mortgages
How to Find your Mortgage
Mortgages in Principle
Read On
Guide to Buying Home in the UK
Guide to UK Home and Mortgage Insurance
Click
here to see your Latest Best Buy Mortgages
Back to contents of Home Insurance Guide
See full contents of the Home Buyers Guide
Read about How to get a Mortgage
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