Also known as Income Replacement, this policy is designed to provide a tax free income in the event the insured individual is unable to work due to ill health. The level of premium will depend upon benefit and term selected and most policies cease to pay the benefit once the insured is able to return to work. PHI policies are usually written to age 65.
Accident, Sickness & Unemployment
ASU policies were traditionally sold to accompany mortgages, allowing for a
regular income to be paid to the insured should they be unable to work (or lose
their job). The product can be split down, and unemployment cover is usually
the optional extra available for an additional premium. It is important to
compare ASU and PHI closely as one may be more suitable than another.
KNFM Ltd and Andrew Copeland Mortgages Ltd are both authorised and regulated by the Financial Services Authority.
KNFM Ltd is Registered in England and Wales No. 4713684
Office address: 230 Portland Road, South Norwood, London SE25 4SL FSA No. 227737
Andrew Copeland Mortgages Ltd is Registered in England and Wales No. 4016124
Office address: 230 Portland Road, South Norwood, London SE25 4SL FSA No. 303024
Andrew Copeland Mortgages Ltd is a wholly owned subsidiary of KNFM Ltd