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  • FIRST POST
    • Hughie73
    • By Hughie73 25th Nov 17, 8:41 AM
    • 9Posts
    • 0Thanks
    Hughie73
    Self Employed Sickness/Illness Insurance
    • #1
    • 25th Nov 17, 8:41 AM
    Self Employed Sickness/Illness Insurance 25th Nov 17 at 8:41 AM
    Hi.

    A quick question.
    Iím a self employed, single parent on a low income with quite a big mortgage.
    Please could anyone advise of a good insurance in the unfortunate case I should get ill like cancer, etc as there are so many and Iím a little confused?

    Thank you.
Page 1
    • dunstonh
    • By dunstonh 25th Nov 17, 12:54 PM
    • 89,872 Posts
    • 56,539 Thanks
    dunstonh
    • #2
    • 25th Nov 17, 12:54 PM
    • #2
    • 25th Nov 17, 12:54 PM
    Permanent health insurance is the generic name. That is the best form of income protection. Underwritten at point of sale (not point of claim like PPI). Pays out until able to work again or end date (typically retirement age). Cannot be cancelled by the insurer.

    PHI can be classified into three categories; budget, standard and comprehensive. The budget plans are usually rubbish. An option of last resort for those that cant qualify for the better plans. Avoid budget plans if you can.

    PHI does not have good coverage on comparison sites. Most of them prefer to sell PPI instead as it is paperless and more profitable. PHI is mainly available via IFAs and whole of market (for insurance) mortgage brokers.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • tgirl
    • By tgirl 2nd Dec 17, 7:34 AM
    • 52 Posts
    • 31 Thanks
    tgirl
    • #3
    • 2nd Dec 17, 7:34 AM
    • #3
    • 2nd Dec 17, 7:34 AM
    What's the best companies for PHI? Is Royal London good?
    • csgohan4
    • By csgohan4 2nd Dec 17, 9:03 AM
    • 4,014 Posts
    • 2,497 Thanks
    csgohan4
    • #4
    • 2nd Dec 17, 9:03 AM
    • #4
    • 2nd Dec 17, 9:03 AM
    get a broker, the life assurance brokers from the MSE article on life assurance, also do income protection
    "It is prudent when shopping for something important, not to limit yourself to Pound land"
    • Weighty1
    • By Weighty1 4th Dec 17, 12:36 PM
    • 224 Posts
    • 82 Thanks
    Weighty1
    • #5
    • 4th Dec 17, 12:36 PM
    • #5
    • 4th Dec 17, 12:36 PM
    What's the best companies for PHI? Is Royal London good?
    Originally posted by tgirl
    Royal London does have a good income protection plan. Is it the best for you, who knows? Personally, I think there are several on the market which could be classed as being equal to or better than Royal London's plan so the deciding factor could come down to cost, depending on which providers are quoting what monthly cost.

    Speak to an independent broker and see what they can come up with.
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