Permanent Health Insurance

March 3, 2011 | By archives | Filed in: Blogging.

Permanent Health Insurance: Today people become careless about the insurances they choose. Some people think all insurance seem like the same.
Permanent Health Insurance image
Well, that’s an erroneous opinion. There are various kinds of insurance based on what we need, what kind of job we have, how many children we have, etc. But only few of them really insured us.

Permanent Health Insurance

Before to go the the point let us explain in short what is the permanent health insurance, okay based on wiki explanation:

Income Protection Insurance (IPI) is an insurance policy, available principally in Australia, Ireland, New Zealand, South Africa, and the United Kingdom, paying benefits to policyholders who are incapacitated and hence unable to work due to illness or accident. IPI policies were formerly called Permanent Health Insurance (PHI).

For example, Permanent Health Insurance (PHI) made for worker. If a worker can’t continue work due to sick or accident or even death, the insurance company will cover the salary given by your company, and give you 50% to 60% of your salary.

The company will continue it until you healthy enough to get back to work. You probably think is the money you receive is a decline in income. But on the other hand, your income is tax free. Different companies offer you different policies. Make sure you know the rule they’ve made.

In case you move from one company to other company, you need to give notice to the insurance agent. Because some insurance companies have a strict rule about which company they have cooperated. And once again, make sure you read all the letter of agreement carefully before you sign it.

Some people made a mistake by sign it without read it. Pay to insurance is a high cost, so you don’t want to miss every penny if you need it.

What do you thinks about Permanent Health Insurance ?


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