Permanent Health Insurance

Permanent health insurance replaces income lost through long-term disability caused by sickness or accident. It is designed for those who do not require immediate income replacement. Income benefits do not start until the insured person has been absent from work for a defined period of time. The client determines this so-called deferred period when the policy is taken out. It usually ranges between four and fifty-two weeks and is determined by the length of time the insured's employer continues to pay full or half salary to employees who are too ill or injured to work. Income benefits continue until the insured person recovers and returns to work. Otherwise, benefits continue until the expiry date of the contract, death or retirement, whichever happens first.