Can you have two PPI's???

hairclip_2

Hi All, just a quick question.
Is it possible to have two Payment Protection Policies on the go at the same time. I have a joint policy with the wife which covers both of us; paying 125% of my monthly share or her monthly share of the mortage in the event of unemployment for a period of 12 months. However, can I take out a second insurance which would give me extra income in the event of a redundancy? In addition would this affect the level of pay out from my first policy? :cool:

di3004

hairclip wrote: »

Hi All, just a quick question.
Is it possible to have two Payment Protection Policies on the go at the same time. I have a joint policy with the wife which covers both of us; paying 125% of my monthly share or her monthly share of the mortage in the event of unemployment for a period of 12 months. However, can I take out a second insurance which would give me extra income in the event of a redundancy? In addition would this affect the level of pay out from my first policy? :cool:

Hi there

I can't see why not hun.

You could take a separate cover with a lower cost policy, maybe you could check here for more info:
http://www.moneysavingexpert.com/insurance/

There is a list of insurances on that link which should give you more of an idea.

Maybe others will post on this as well, good luck with this and make sure its the cover you want to cover for your requirements.;)

Credit-Crunched

hairclip wrote: »

Hi All, just a quick question.
Is it possible to have two Payment Protection Policies on the go at the same time. I have a joint policy with the wife which covers both of us; paying 125% of my monthly share or her monthly share of the mortage in the event of unemployment for a period of 12 months. However, can I take out a second insurance which would give me extra income in the event of a redundancy? In addition would this affect the level of pay out from my first policy? :cool:

Sadly not, the new insurance policy woudl take into account income from the previous policy

di3004

Credit-Crunched wrote: »

Sadly not, the new insurance policy woudl take into account income from the previous policy

Hi Credit-Crunched, hope your well.;)

Glad you came along and confirmed this, thank you.;)

Credit-Crunched

di3004 wrote: »

Hi Credit-Crunched, hope your well.;)

Glad you came along and confirmed this, thank you.;)

No worries, not on much now as i have been lucky enough to secure employment!!"

di3004

Credit-Crunched wrote: »

No worries, not on much now as i have been lucky enough to secure employment!!"

Good for you.:T :T
That is great news, well done.:beer: