Payment protection insurance (PPI) can help ensure that you will be able to pay your monthly commitments on your important debts, even if you have had to stop working through ill health, accident or redundancy, depending on the type of policy you have.
When it comes to urgent debts like mortgages, loans and credit cards, you want to make sure you are able to pay each month, regardless of circumstances.
What debt payments Payment Protection Insurance can cover for you
Depending on what took you out of work, having payment protection insurance for debt could help you stay on top of your payments without worry and stress.
Payment protection insurance plans typically cover protection for, mortgages, loans and credit cards that you might have.
Payment protection insurance usually works to cover repayments for a fixed period of time, usually 12 months. Although, each insurance plan is unique to the person who takes it out.
If you have had an accident, are ill or you have become unemployed through no fault of your own, Payment Protection Insurance could ease your financial burden.
Understand your options with Legal Advice Helpline
Every policy is unique - so there are many types of payment protection insurance for you to choose from.
To ensure that you are aware of the payment protection insurance covering your debt, make sure you read your terms and conditions carefully so that you fully understand the policy. An independent view of Payment Protection Insurance policies can be found on the FSA's Money Made Clear website.
Legal Advice Helpline can provide you with more information and advice on debt and will keep you up to date with the latest developments and news on the Payment Protection Insurance industry.
Contact Legal Advice Helpline on 0845 600 6985 to learn more about payment protection insurance.