Research topic:health insurance

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Find more facts and information on our topic page about health insurance

permanent health insurance

A Dictionary of Business and Management | 2006 | © A Dictionary of Business and Management 2006, originally published by Oxford University Press 2006. (Hide copyright information) Copyright

permanent health insurance (PHI) A form of health insurance that provides an income (maximum 75% of salary) up to normal retirement age (or pension age) to replace an income lost by prolonged illness or disability in which the insured is unable to perform any part of his or her normal duties. Premiums are related to age and occupation and normally are fixed; benefits, which are not paid for the first 4–13 weeks of disability, are tax free for one year and thereafter are taxed. Compare sickness and accident insurance.

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