Income protection (previously known as permanent health insurance or PHI)
is an income replacement policy if you are unable to work due to accident, sickness or disability. The policy is set up for a specific term of years or until your due retirement age.
Most policies will pay out after you have been unable to work for 90 days although you can choose the period of deferment for up to 2 years. The longer the deferred period, the cheaper the monthly premium.
The main advantage is that is that it will pay out for as long as you are unable to work (within the term of the policy).
Don't confuse it with an Accident, Sickness and Unemployment policy which is designed to only pay out for up to 12 months and is, therefore, generally cheaper.
We use a number of different companies, including Friendly Societies, so that whatever your age or occupation, we should be able to find a policy to suit your particular requirements.