A policy which will provide an income in the event of long-term absence from employment because of illness or disability; income ceases upon return to work, retirement or death.
This cover provides regular income to help you maintain an acceptable lifestyle if you suffer a prolonged illness that stops you working.
Insurance covering lost income due to long term illness or injury. The insurance pays benefits relative to your salary.
An insurance policy that is designed to pay out a monthly income in the event that the policy holder becomes ill and is unable to work.
An insurance policy that pays out a proportion of your income if you are unable to work due to illness or disability. The benefit is paid out after a 'deferment period', typically 1,3,6 or 12 months after the event. The deferment period is selected when the policy is taken out.
A wider form of cover that that provided by basic Personal Accident & Sickness Insurance. The term of the policy will usually be until retirement age. Sometime the policy will pay out a restricted amount if the person is still able to carry out some form of work..
See: Income Protection Insurance.
A policy that pays an income for as long as the policyholder is unable to work as a result of accident or illness. The benefit is usually payable until retirement date.
Provides an income, until retirement if necessary, if you can't work because of sickness or disability.
A type of insurance policy which pays out a monthly income up until a specified date (often retirement) if the policyholder/life assured becomes ill and cannot work. The qualifying illness, etc. can vary from one policy to another.
This is a policy which pays out regular sums of money to the insured after specified period during disability through sickness or accident and injury. The benefit is payable until the policy holder returns to work, dies, or the policy term expires, whichever is earlier. Such a policy is used to replace a percentage of full income and not just the monthly mortgage repayment. PHI is not an accident, sickness and unemployment and insurance policy which usually only gives cover for up to two years. PHI pays an income until a return to work or normal retirement age. N.B. PHI does not cover unemployment.
Permanent Health Insurance will pay you an income if you become ill for a long period or if you become disabled and can't work.
Insurance against disablement by sickness or accident which is renewable at the insured's option up to a stated age. The insurers are bound to accept the renewal.
cover that provides a regular income until retirement should the insured be unable to work due to illness or disability.
This is an insurance policy which pays an income to someone who has been taken ill with a long-term illness or disability. A pension scheme might buy this policy as part of a member's benefits . The policy may stop paying out when the member reaches normal retirement age . This can also be called prolonged disability insurance .
Insurance to protect against long term sickness or invalidity. The definition of sickness usually relates to the policyholder's ability to carry out their usual job or a similar type of work. It is ''permanent'' in the sense that the policy conditions are fixed from the outset.