Q. re PHI Benefit and Premium protection in event of company wind down

skippy2

I am currently in receipt of PHI benefit linked to my pension and am concerned should my employer company cease trading or the company be wound up and assets sold to another company to continue trading.

The clause in my PHI benefits states the following

"Where the employer is wound up, other than for reconstruction or amalgamation, during payment of benefits in respect of an Insured Person, then that proportion of the benefits that is payable in respect of Premiums under Associated Policies, if any, shall be terminated and the Insured Person shall become entitled to the remainder of the benefits".

So if Company is wound up, then premium payments into the pension Policy terminate. My PHI claim would continue and Income Benefit would be paid directly to me, but Premium Protection benefit would cease to be paid.

The premium payments being paid into my pension fund are quite substantial so i would not like to lose this. In this case is there anything I can do to secure this in advance of a situation arising where the company might be wound down sold and resume trading as another entity.

Or who should i seek advice from Solicitor, Pension Adviser etc

Any help or advice appreciated