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Dumb question maybe - is Income Protection linked to an Endowment same as PPI?
mark54321
Posts: 7 Forumite
As subject, I've some old paperwork relating to an income protection plan with Allied Dunbar, for a mortgage I had at the time. Is this the same as PPI or different?
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Comments
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It sounds more like Permanent Health Insurance and is rather different.
PPI is designed to provide breathing space if you lose your income through redundancy or short to medium term health problems. I pays out for up to one or two years.
Permanent Health Insurance (PHI) pays out if you are unfit for work (but not simply because none is available to you) until you are fit again or the policy eventually ends - which could theoretically be 40 years or more.0 -
Thanks for the reply.. I think it's both combined but I suspect that because of that there'd be no scope for claiming anything back. Cheers0
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