When it comes to your wellbeing, health insurance forms an essential part of the measures you can put in place to give you that reassurance. It goes a long way to ensuring you receive the care you need, when you need it.

Private Medical Insurance (PMI)
Life is never completely stress-free but to look after one of the most important aspects, your health, is one way you can actively manage and reduce those concerns. Taking a positive step over your private health insurance is one way of proactively planning for your future wellbeing.

Providing an income when you can't work (PHI)
Permanent Health Insurance ( PHI ) should not be confused with Private Medical Insurance (PMI).

This is an insurance plan that provides an income if you are unable to work through disability, no matter how it is caused. The policy pays a monthly tax-free income for a set length of time - normally until retirement. The payout can be level or set to rise with inflation. It pays as long as doctors agree that you are unable to work for health reasons.

The maximum cover you can have is typically half of your provable income before tax. This is paid tax free, so should you make a claim you will only be a bit worse off than you were before. The insurers limit the amount of cover you can have so that you have an incentive to get back to work!

Everyone should have this cover, because the State simply does not provide adequate protection, but many employers do offer it, so check your contract. Premiums are kept down by setting it up with a "deferred period" between the onset of disability and the income kicking in, usually to coincide with the sick pay arrangements with your employer. In other words, it's not meant for the flu, and the huge majority of claims are caused by back or mental health problems.