Why you need PPI

Payment Protection Insurance goes by a variety of names including:

• Mortgage Payment Protection Insurance (MPPI)
• Loan Payment Protection Insurance
• Car Loan Payment Protection Insurance
• Rent Payment Protection Insurance

Whatever you choose to call it, this type of insurance exists to cover regular repayments on mortgages, loans and other regular financial commitments.

Payment Protection Insurance could be the lifeline that keeps you and your family afloat if your financial circumstances change.

Anyone with no loans, mortgage or rent to pay can stop reading now. Payment Protection Insurance is not for you. But for everyone else, it is well worth thinking about.

Consider this: you buy insurance to protect the bricks & mortar and the contents of your home; so surely it makes sense to protect the payments that enable you to carry on living in it!

How does it work?

In a nutshell, you pay a monthly premium and in return the Insurance pays you the funds you need to keep up your repayments for up to 12 months should you become unable to work through no fault of your own.

Why do you need PPI?

Ask yourself this - what would happen if you lost your job, became ill or injured yourself? How would you keep up your regular repayments?

A lot of people dismiss PPI without really thinking it through. Many live to regret it. Don't be one of them!