Sometimes called permanent health insurance this is one type of cover that whether employed or a house person most of us should consider; but sadly most don’t.

Designed to replace your income with tax free regular payments (under current legislation tax year 2017/2018) in the event of accident or sickness. It, usually covers up to 50 or 60% of your gross income although cover can be provided even if you are not working.

Unlike mortgage payment insurance, it will provide a long term solution for loss of income due to accident or sickness.

It pays until death, retirement or you have recovered and are able to return to work, whichever occurs first.

If you receive sick pay from work, you can defer your cover in line with this. The longer you defer your policy pay-out, the lower your premiums will be. Cover can usually be deferred for 4,13,26 or 52 weeks.

For most of us, what the state will pay in benefits would not even cover our mortgage payments, so it is certainly worth considering this type of cover.