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health insurance ?
Leedash
Posts: 441 Forumite
Hi all i remember @ the back of my mind when i went for a bank review they offered me some kind of insurance,If you were out of work through health etc.
They would pay you a lump some each month ? am i right or am i dreaming ? is it under health insurance ?
They would pay you a lump some each month ? am i right or am i dreaming ? is it under health insurance ?
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its called permanent health insurance (PHI). Its proper income protection (not the buget payment protection versions you see more on the internet). However, dont buy it from the bank. It will be expensive and many of the banks sell a budget version. PHI typically comes at different cover levels. So,price shouldnt be the only consideration.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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So who do suggest ?0
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So who do suggest ?
Whichever company offers the best terms for you within your budget, occupation, age, terms requested and the distribution channel you want to use (not all PHI policies are available direct and very few via the internet).
There is no one best option that fits all.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Leedash, you need a “good” Insurance Broker and they are rare……………..
Zorro…….. Defender of the people against the oppressive Insurance Companies, I am not Zorro….Campaigning to recycle Insurance Policies into Toilet Paper :rotfl:
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Leedash, you need a “good” Insurance Broker and they are rare……………..
You dont need an insurance broker with PHI. You need an IFA. A number of PHI plans require full investment authorisation whilst others only require protection.
I also think your comment about insurance brokers is totally wrong. There are not many left nowadays and those that are typically do a damned good job and thats why they still exist. When was the last time you used a local office based broker?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thank you for your comments dunstonh
Zorro…….. Defender of the people against the oppressive Insurance Companies, I am not Zorro….Campaigning to recycle Insurance Policies into Toilet Paper :rotfl:
Z0
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