any benefit


Z

zahire khan

Can I have more than 1 critical illness/injury protection
What is the benefit of having more than one?
Or what other avenues are open to me that may be more useful if I fall ill
and cannot work .

Cheers
Z
 
Ad

Advertisements

R

Rob Graham

zahire khan said:
Can I have more than 1 critical illness/injury protection
Yes

What is the benefit of having more than one?
You get a bigger payout. However, it may be better to increase the one
you've got or to change over completely. Beware the changed definitions in
more recent policies, though.
Or what other avenues are open to me that may be more useful if I fall ill
and cannot work
Permanent Health Insurance (PHI) is the normally accepted one. This pays out
an income if you cannot work after a pre-determined deferment period and
continues until you get better, or die, or you get to the pre-determined
termination age.

However, some people like to have an ASU (accident, sickness, unemployment
policy) with or without the unemployment bit. This pays out, usually after a
very short deferment period, for a relatively limited time such as one or
two years. If you have both ASU and PHI then you need to realise that the
PHI plan will reduce its payout in line withe money paid by the ASU. To
avoid this double insurance you might take out an ASU and a PHI with a 12
month deferment (cheaper and covers most scenarios).

Rob Graham
 

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Top