sickness insurance

john657

Is ppi still available to buy my bank dont do it anymore

kingstreet

If you want protection for your income and inability to work due to accident or illness, you would be better off considering permanent health insurance.

This is medically underwritten at point of sale. Following a waiting period of your choice, normally the period you would expect your employer to carry on paying you, a monthly benefit is payable until you are fit enough to return to work, or the end of the policy term, possibly at retirement if you choose that.

Get "own occupation" cover, rather than the cheaper "any occupation" or "work tasks" options as these can see you miss out on the benefit because you are not completely incapacitated.

The benefits are free of tax too, so you don't need all your income.

dunstonh

PPI is effectively a budget form of income protection. PHI (permanent health insurance) is the best form of income protection.

Are you specifically after PPI?

InsideInsurance

john657 wrote: »

Is ppi still available to buy my bank dont do it anymore

Given the back lash and the revised rules then no bank sells PPI any more.

PPI however was simply an ASU product that was tied to a piece of credit (eg loan). You can very much still buy ASU as a stand alone product and the only differences between it and PPI is (a) they pay you not your bank, (b) the amount you can insure is limited by your salary not your credit and (c) there is no full repayment if you die or are signed off work for life as there was with some PPI

ASU/ PPI has always been seen as a basic product though and as kingstreet says there is a much more "full fat" product called PHI that may be more suitable for you. Its most significant difference is that ASU normally pays out for up to 12 months of sickness where as PHI will pay for as long as you are sick up to your policy termination date (normally your 65th birthday but it is set by you at inception)

john657

Thanks I,m needing cover agaist redundency and sickness to pay morgage

ACG

In that case its either ASU or some PHI products allow you to bolt on unemployment.

You can speak to a broker to get advice, alternatively you can do it yourself, here are a list of companies, http://www.defaqto.com/star-ratings/income-protection?ProductTypeView=StarRatingsCenter_PaymentProtection_ShortTermIncomeProtection_ProductDetails&Ratings=4,5&Products=&Product=&Search=&Sort=

I wouldnt discount going down the broker route just because of that list though.