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whats the diff between ASU and PHI (mortgage/payment protection)?
PrincessJR
Posts: 320 Forumite
Hi Guys,
I was planning on getting ASU income cover with Ant insurance after posts on here. However, I have read that it dosnt fully cover you and we might be better off with PHI, what is this?
We are FTB and just want something basic and CHEAP to cover us incase of unemployment or sickness?
Which is best for us?
Thanks as always
I was planning on getting ASU income cover with Ant insurance after posts on here. However, I have read that it dosnt fully cover you and we might be better off with PHI, what is this?
We are FTB and just want something basic and CHEAP to cover us incase of unemployment or sickness?
Which is best for us?
Thanks as always
0
Comments
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PHI is "proper" income protection. It is underwritten to your circumstances, the premium is fixed (if you go with guaranteed option), the insurance company cannot cancel it and because they know your circumstances, they are not going to refuse payouts. It also pays until a set age as a maximum. Typically your retirement age.
The only thing it doesnt cover in unemployment. Although you can get standalone unemployment plans if that is an area of concern for you.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.0
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