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PHI policy with split deferment

Roberta1
Roberta1 Posts: 649 Forumite
in Insurance & life assurance
My employer will pay full sick pay for 26 weeks, with a subsequent 26 weeks at half pay.

I need a PHI policy with split deferment to cover the above.

Martin doesn't seem to have an article or best buy tables for PHI. Any reason?

Can anyone help on the best policies around?

TIA. R. x
«1

Comments

  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    Speak to an IFA.
  • dunstonh
    dunstonh Posts: 117,532 Forumite
    Combo Breaker First Anniversary First Post Name Dropper
    Martin doesn't seem to have an article or best buy tables for PHI. Any reason?

    Its a regulated product which has very little internet coverage and many of the internet sites dont hold the required level of authorisation to retail them. Plus, many of the providers will only retail via IFA and a good few of those still require manual paper applications.

    Add to that, its low profit and the internet sites like to cherry pick the easy, profitable stuff.
    Can anyone help on the best policies around?

    Ask a local IFA.
    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.
  • Roberta1
    Roberta1 Posts: 649 Forumite
    _Andy_ wrote: »
    Speak to an IFA.

    Right. Thanks for that......

    I will indeed talk to an IFA, but as I said, I wondered if anyone on here had any ideas about this?

    I'd welcome your opinions.
    R.
  • Roberta1
    Roberta1 Posts: 649 Forumite
    dunstonh wrote: »
    Add to that, its low profit and the internet sites like to cherry pick the easy, profitable stuff.

    Didn't know that. Thanks!
  • whiteflag_3
    whiteflag_3 Posts: 1,395 Forumite
    dunstonh wrote: »
    Add to that, its low profit

    can you explain this, I thought commissions on PHI contracts tended to be higher than straight life cover?
  • dunstonh
    dunstonh Posts: 117,532 Forumite
    Combo Breaker First Anniversary First Post Name Dropper
    whiteflag wrote: »
    can you explain this, I thought commissions on PHI contracts tended to be higher than straight life cover?

    I dont see any reference to life cover.
    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.
  • whiteflag_3
    whiteflag_3 Posts: 1,395 Forumite
    dunstonh wrote: »
    I dont see any reference to life cover.

    so what do the internet sites to which you refer market then?
  • payless
    payless Posts: 6,957 Forumite
    First Anniversary Combo Breaker First Post Name Dropper
    comm on PHI is about 10-15% less than life cover, ( based on same premium) and the contract is somewhat more complex.
    --
    split cover is fine, most companies have them, but as some firms only do 50% cover they would not cover in months 7-12 anyway ( others range 55-65%, so could consider 5-15% cover)
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • whiteflag_3
    whiteflag_3 Posts: 1,395 Forumite
    payless wrote: »
    comm on PHI is about 10-15% less than life cover, ( based on same premium) and the contract is somewhat more complex.
    --

    but the premiums are usually alot higher .
  • Wutang_2
    Wutang_2 Posts: 2,513 Forumite
    whiteflag wrote: »
    but the premiums are usually alot higher .

    ...but the commission isnt...if you don't undersatnd this, you need to do what the original poster also needs to do - speak to an IFA.
    Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam
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