Income protection

For your income There are a couple of options here - either protection for the longer term or the

shorter term in the event of illness, accident or even redundancy. Here we explain those options.

• Permanent Health Insurance (PHI) is designed to provide a tax free income in the event you or the

insured individual is unable to work due to ill health. The level of premium will depend upon benefit

and term selected and most policies cease to pay the benefit once the insured is able to return to

work. Income Protection policies are usually written to age 65. • Accident, Sickness & Unemployment (ASU) policies were traditionally sold to

accompany mortgages, allowing for a regular income to be paid to the

insured should they be unable to work (or lose their job). The product can be

split down, and unemployment cover is usually the optional extra available

for an additional premium. It is important to compare ASU and Income

Protection closely as one may be more suitable than another.