Permanent Health Insurance
Whereas Life and Critical Illness cover is designed to pay out a lump sum in order to pay off your mortgage Permanent Health or income protection works slightly differently.
Rather than the total mortgage being protected, only a set monthly amount is covered so that in the event of being off work due to an illness or disability your income will be replaced by the insurer until you are able to return to work. You can cover yourself for just your mortgage payment or an amount that allows you to continue your standard of living. The cover normally runs until you either return to work, you retire, or at the end of the plan term set at the beginning.
PHI or Income Protection Insurance is generally thought of as a long term income protection product that would cover long term illness or disability – ASU or short term income protection products are more to cover accidents or sickness when the time off work is likely to be relatively short.
Testimonials
Thank you very much for sorting out our mortgage! You have been brilliant. Definitely recommend you to anyone and will be dealing with you in the near future.
Just to say a massive thank you for all your invaluable help. It is very much appreciated. Couldn’t have done it without you.
Just a little note to say thank you once again for all your help and support with our (TRICKY!) remortgage. We really do appreciate all the time and effort you put into sorting it out.
Thank you so much for once again being immense help with our mortgage and insurances. We’re thrilled to have moved and are enjoying the unpacking and planning DIY!
Many thanks for all your help in getting back on the property market. Your help and advice has been invaluable.
From the both of us, our very sincere thanks to you for all your help and advice over the past few months. It has been a long road to get here and you have worked so hard for us, we really can’t thank you enough. We’re so pleased to finally own our own home, and you have been a huge help in making that happen.
Adaptability; in being very professional, whilst always taking the time to go over anything that was miss understood our end to making the experience very enjoyable and a good laugh. Richard is now a contact for life
Richard is an excellent adviser who is always pragmatic, honest and realistic in his approach. We have really valued his kindness and patience with us over all our dealings with him.
Very professional, very honest, gives you 150% customer service. We never trusted any other advisor the way we trust Richard
