What Is permanent health insurance?

Permanent health insurance is a type of disability insurance that provides benefits for as long as you are disabled, regardless of how long your disability lasts. Unlike short-term or long-term disability insurance, which provide benefits for a limited time, permanent health insurance can provide coverage for the rest of your life.

There are two main types of permanent health insurance:

1. Guaranteed renewable policies are renewable as long as you pay the premium, regardless of whether you become disabled. This type of policy can be more expensive than a non-guaranteed renewable policy, but it provides peace of mind knowing that your coverage will not be canceled if you become disabled.

2. Non-guaranteed renewable policies are renewable at the discretion of the insurance company. This type of policy is typically less expensive than a guaranteed renewable policy, but the insurance company can refuse to renew your policy or increase your premium if you become disabled.

Permanent health insurance can be a valuable asset if you are concerned about your ability to work in the future. By providing benefits for as long as you are disabled, permanent health insurance can help you protect your income and your family's financial security.

Here are some of the benefits of permanent health insurance:

* Provides long-term financial security. If you become disabled, permanent health insurance can provide you with a stream of income that can help you cover your living expenses and medical bills.

* Can help you maintain your independence. If you are disabled and unable to work, permanent health insurance can help you afford the home modifications, medical care, and other assistance you need to live independently.

* Gives you peace of mind. Knowing that you have permanent health insurance can give you peace of mind knowing that you and your family will be financially protected if you become disabled.

If you are considering purchasing permanent health insurance, it is important to shop around and compare policies from different companies. You should also consider your health and financial situation to determine the amount of coverage you need.