Pioneer Friendly Society have just launched a new type of income protection called “Bills and Things” to help cover your living expenses should you be ill or have an accident. However unlike standard Personal Health Insurance (PHI) or Accident and Sickness (ASU) polices this plan is totally unrelated to income.
This provides the self employed or employed with reassurance that they can have cover as there is no financial underwriting at any stage.
The main benefits of the plan are:-
- No financial underwriting so you can chose the level of cover you need
- Cover is provided up to a maximum age of 68
- Benefits are paid after 4 weeks
- Valid claims are paid for 1 or 2 years (depending on the cover duration selected at outset)
- Multiple claims are allowed for each separate illness or accident
- Claims for the same illness are allowed after 6 month back at work
- Underwriting has been simplified with a short application and telephone underwriting
- Cover automatically increases with the Retail Prices Index (RPI) to maintain the real value over time
- Premiums are age related
- Minimum cover £500
- Maximum cover £1,000
With the cost starting at £9,99 for £500 monthly benefit for those who are for the self employed or employed with high outgoings in relation to income this will fill the protection gap nicely. It’s only a shame the cover is limited to £1,000 monthly benefit.
For more information or to request a quote go to www.quoteme4.co.uk or call 0800 022 6571
Tags: Income Protection, Payment Protection Insurance, Permenant Health Insurance