Looking into PPI - Payment Protection Insurance

PPI, or Payment Protection Insurance is an important thing to look into when you have a loan. But not only a loan. PPI policies can protect most forms of personal debt, including home mortgages, and credit card repayments. To be qualified, the purchaser will usually have to be aged between 18 and 65 and employed for at least 2 full days a week.

This will cover you in case of an injury that makes it so that you are unable to work. Generally these programs will cover the injured for 12 months. Although they will offer you this, make sure that there isn’t another program out there through your work insurance that perhaps provide a better program. This can be helpful, but that doesn’t mean that it’s the best way. Other insurances may offer a better solution for the long term injury.

Please note, whilst Payment Protection Insurance is the formal name given to this type of insurance, it is also sold under a host of other names such as: Accident Sickness and Unemployment Insurance, Premium Protection Insurance, Income Protection Insurance, Mortgage Payment Protection, Loan Protection Insurance, etc.

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Filed under Credit Card Saving, Loan Savings |