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PHI policy with split deferment

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Comments

  • dunstonh
    dunstonh Posts: 117,646 Forumite
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    the applications are often paper based and much longer than life assurance. The method to obtain quotes is often manual and not through a portal. The options are more complex and you have different types of cover. It doesnt lend itself to the internet quote site model when they can churn out PPI instead with no underwriting at point of sale and a short electronic application with commission that is not much different to PHI.
    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
    edited 10 July 2009 at 10:22AM
    Wutang wrote: »
    ...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.

    no I dont understand?

    just run two typical quotes

    Male 40 NB

    £200k life cover to age 60 - premium £11.30 pm commission £231.66
    £20 k pa PHI to age 60 - premium £36.50 pm commission £696.02

    Which one is higher?
  • dunstonh
    dunstonh Posts: 117,646 Forumite
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    edited 10 July 2009 at 10:48AM
    PPI £35pm held for 20 years to match PHI term, £35pm = commission of £126 per year. 20 years of that is £2520

    Even if they run it on a lower commission rate their income stream from the PPI wipes the floor with PHI.
    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: »
    PPI £35pm held for 20 years to match PHI term, £35pm = commission of £126 per year. 20 years of that is £2520

    Even if they run it on a lower commission rate their income stream from the PPI wipes the floor with PHI.

    in a claim situation, how long would the PPI pay out for ? and the PHI?

    plus my comparison was in response to the posts of Payless and Wutang.
  • dunstonh
    dunstonh Posts: 117,646 Forumite
    Combo Breaker First Anniversary First Post Name Dropper
    in a claim situation, how long would the PPI pay out for ? and the PHI?

    Absolutely nothing to do with the subject. PPI is what most websites retail instead of PHI. The pros and cons of both isnt an issue here.
    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
    edited 10 July 2009 at 2:10PM
    dunstonh wrote: »
    Absolutely nothing to do with the subject. PPI is what most websites retail instead of PHI. The pros and cons of both isnt an issue here.

    Thread heading-

    PHI policy with split deferment -

    yes your so right (yet again) DH, my apologies for going off topic.

    Hope I havent hurt your feelings again, but I have Im sure Wutang and _Andy_ will come along and thankyou for your posts which will make you feel better
  • payless
    payless Posts: 6,957 Forumite
    First Anniversary Combo Breaker First Post Name Dropper
    whats going on with you guys?
    Any posts on here are for information and discussion purposes only and shouldn't be seen as (financial) advice.
  • dunstonh
    dunstonh Posts: 117,646 Forumite
    Combo Breaker First Anniversary First Post Name Dropper
    I think Whiteflag is constipated and it's affecting his ability to communicate.
    Thread heading-

    So why did you bring up life cover?
    yes your so right (yet again) DH, my apologies for going off topic.

    You took it off topic so its correct you apologise.
    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 think Whiteflag is constipated and it's affecting his ability to communicate.


    So why did you bring up life cover?



    You took it off topic so its correct you apologise.

    My god you really are pompus.
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