Leading life insurer, Friends Provident, has announced that it is reducing premiums on income protection plans as well as offering additional discounts for larger income levels covered.
Income protection or Permanent Health Insurance (PHI) as it is sometimes known, is protection for income should you be unable to work for a long period due to ill health. The simple question that we always ask clients is “How would you cope financially if you had a serious illness and could not work?” Think about you mortgage, food bills etc. How much do you think the state will give you in benefits? £50 per week? £70 per week? Could you survive?
Learn more about income protection in the Life Cover Adviser.com.
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