income protection insurance -where?

rockrat

i have scoured the site, and acannot seem to find any information about long term income protection insurance, and where best to get it.

as i roll on in years, i would like to know that i have an income that will continue to pay the essentials should something happen to me that debilitates me from work.
it needs to be longer than the standard 12 month mortgage protection and not be libnked to the mortgage, i.e linked to income.

any advice please.

i have found the pioeer freindly insureres via the moneylink article in their recent magazine, but thats it

dunstonh

i have scoured the site, and acannot seem to find any information about long term income protection insurance, and where best to get it.

The product is called permanent health insurance (PHI).

It doesn't have good internet coverage is many of the providers do not make their products available to quote portals. Plus quote portals don't really like the product as its generally low profit and mostly paper based and applications take more work. Basically, they like cherry picking the easy stuff and ignore the harder stuff. The other reason is that some PHI plans fall under investment class authorisation and a lot of these quote portals don't hold that level of authorisation.

rockrat

ok,
so can you steer me in the direction i need to be going. Do you have any suggested names of providers that you may be aware of?

thanks in adavnce, but i seem to be drawing a blank other than Pioneer Insurance

the-chauffeur_2

Most of the major insurers offer PHI policies, but they vary widely between companies. As Dunstoh said, it's one of the few policies that doesn't have good internet coverage - in part because each individual's circumstances consist of too many variables for the average person to work out what it is they need.

In short, anyone considering a PHI policy should see an IFA. This is one area of advice where advisors really earn their money - and given that you're looking to replace your income if you get ill, it's not something you can afford to get wrong.

First port of call is either your yellow pages, http://www.yell.com, or http://www.unbiased.co.uk/ (a directory of IFA's).

HTH