PPI, MPPI and Income Protection...?

dunstonh

PHI is underwritten to your circumstances. ASU isnt.
PHI cannot be cancelled by the insurer. ASU can.
PHI will pay out until you return to work or a selected final date (usually age 60-65). ASU is normally 12 months (a few go to 24 months).
PHI doesnt cover unemployment. ASU does
PHI will cover events that ASU doesnt (back injury, sporting incidents, motor cycle accidents... subject to underwriting).

Beanz

Isn't that a little crappy??

If I want proper comprehensive cover I need the PHI but if I need any kind of coverage in the event of unemployment I need the MPPI and possibly individual cover for loans and credit cards etc?

Danny

dunstonh

The two normal ways for doing this are have an ASU policy and a PHI policy with a 12 month deferment or alternatively, have a PHI with a lower deferment period and a standalone unemployment policy.

By the time you look at the clauses on an ASU policy, you have to wonder if it is even worth having and just go with a comprehensive PHI policy instead.