Which payment protection insurance for me and my wife?

Jason.rangou

I am looking around for another MPPI as I have just had a letter through the post saying that our premium is going to go up next week! the bloomin cheek, at the moment we are paying £60 a month for ASU which includes disability and my ongoing addisons disease. (vitally important)

I have compared different insurers on the net and some are saying that I can get ASU (not covering existing conditions) for £10 a month (x2) seperate policies for me and my wife.

At the moment we are with payment shield, which I believe is part of Norwich Union. No offense to anyone on this site but whenever Norwich Union is involved I am always a little skeptical. The insurance we have was set up by our broker and I am starting to think that maybe this policy benfits him rather than us?

Any help would be greatly received.

dunstonh

have just had a letter through the post saying that our premium is going to go up next week! the bloomin cheek

Why is that a bloomin cheek?

The plan is reviewable and the risks are increasing. The providers lowered the premiums in the good times so its not surprise to see them going up in the bad times.

At the moment we are with payment shield, which I believe is part of Norwich Union.

It is not part of NU. Paymentshield are a broker and the plan is with NU.

No offense to anyone on this site but whenever Norwich Union is involved I am always a little skeptical. The insurance we have was set up by our broker and I am starting to think that maybe this policy benfits him rather than us?

Paymentshield have an excellent reputation and NU have a good claims payout history. It may no longer be the cheapest but it is quality.

Given the number of providers that are now withdrawing from this market or putting their prices up and the uncertainty out there, you could do a lot lot worse than paymentshield.

As for your intermediary getting more out of it than you, I am sure you wouldnt be saying that if you had to claim and if you realised the small amount that these policies pay to the intermediary.

jamesd

Jason.rangou wrote: »

I am looking around for another MPPI as I have just had a letter through the post saying that our premium is going to go up next week! the bloomin cheek, at the moment we are paying £60 a month for ASU which includes disability and my ongoing addisons disease. (vitally important)

I have compared different insurers on the net and some are saying that I can get ASU (not covering existing conditions) for £10 a month (x2) seperate policies for me and my wife.

If cover for addisons disease is required, don't bother comparing prices that include that to prices that don't include pre-existing conditions. The two types of cover are radically different and what you want is more expensive. Might as well compare motorbike and bicycle prices and grumble that motorbikes are too expensive compared to the prices you see for bicycles.

Jason.rangou

dunstonh wrote: »

Why is that a bloomin cheek?

The plan is reviewable and the risks are increasing. The providers lowered the premiums in the good times so its not surprise to see them going up in the bad times.



It is not part of NU. Paymentshield are a broker and the plan is with NU.



Paymentshield have an excellent reputation and NU have a good claims payout history. It may no longer be the cheapest but it is quality.

Given the number of providers that are now withdrawing from this market or putting their prices up and the uncertainty out there, you could do a lot lot worse than paymentshield.

As for your intermediary getting more out of it than you, I am sure you wouldnt be saying that if you had to claim and if you realised the small amount that these policies pay to the intermediary.

Thanks for the reply, you don't work in customer relations for Payment Shield and/or Norwich Union do you? :rotfl:

To be honest with you the reason I said bloomin cheek is because everyone in this climate is out to make as much money as possible off the backs of porr people, not going to get into a big debate but you don't have to look far to see that happening all around us.

I have contacted muy broker this morning and he is going to review the rates and see what he can come up with. I was in a hurry before and wrote the thread without providing all the details. I apologise for that:

I have 2 policies one with PAYMENT SHIELD and another with LEGAL AND GENERAL.

The Payment Shield covers me and my wife for Disability and Unemployment ,my wife is 27 I am 30.

The Legal and General covers me for Accident and Sickness (and covers me for my existing condition)

I have compared the ASU on several websites and I have seen that I could most probably save around £20 a month if my wife and I take out seperate insurace for Disability and Unemployment the company is Iprotectinsurance.com and 0Getmy.com have you heard of these companies?/brokers?

Wutang_2

I think it is really unwise to try to save a few pounds and risk your cover.

And

"everyone in this climate is out to make as much money as possible off the backs of porr people"

sorry, what?

Jason.rangou

Wutang wrote: »

I think it is really unwise to try to save a few pounds and risk your cover.

And

"everyone in this climate is out to make as much money as possible off the backs of porr people"

sorry, what?

I am not going to bite, my mistake I thought this was a money 'expert' forum. Thanks for the advice :T everyone.

dunstonh

Thanks for the reply, you don't work in customer relations for Payment Shield and/or Norwich Union do you? :rotfl:

Obviously not from my sig. However, I dont get hysterical about these things and understand what is going on and why.

To be honest with you the reason I said bloomin cheek is because everyone in this climate is out to make as much money as possible off the backs of porr people, not going to get into a big debate but you don't have to look far to see that happening all around us.

So, you dont think that unemployment is a greater risk than it was say 2 or 3 years ago?

If the insurance companies hadnt lowered their prices in the good years then you could have good reason to complain. However, prices dropped significantly in the good times. So, its only expected that they will rise in the bad.