Can you suggest or recommend proper income protection (also known as permanent health insurance – PHI)?
I’ve recently purchased a property (mortgaged) and would like to get covered as things happens in life in the most unexpected moments.
When I contacted some (recommended by MSE) brokers they usually wants to sell me some tricky Income Protection or Income Protection for a short term (12-24 months) or with many caveats and exemptions.
I am of the view that all the ‘small print’ in those type policies must be read as there are many exceptions and situations when the insurer would not pay out.
Anyone has got an experience with using such insurance? Do you know anyone who actually got paid when in need?