Difference between PHI and Income Protection?

[ndp]

I thought they were both the same? Can anyone advise me?

As I understood it, Income Protection insurance provides for up to 75% of your salary in the event that you are unable to work due to certain specified inllnesses, until retirement age or to the point that you are fit to return to work.

Permanent Health Insurance (PHI) - I thought this was just another name for Income Protection?

 

[ClubMan]

PHI presumably covers (certain) situations in which you cannot earn an income due to health issues. Income protection might be more general and (also?) cover non medical situations such as redundancy/unemployment? Ultimately the devil is in the detail (of the policy's terms & conditions).

 

[LDFerguson]

As far as I know, PHI and Income Protection are different names for the same product.

 

[Jimbobp]

As far as I know, PHI and Income Protection are different names for the same product.

I think Liam is right. PHI & income protection are the same. Are you getting confused between payment protection & income protection? I know this often confuses people.