We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Payment insurance - what to do?
Gosia
Posts: 579 Forumite
Hi
My boyfriend is worried that he may be made redundant. The likelyhood is actually very slim but nevertheless he's concerned.
He's thinking of taking out payment insurance for credit card and loan debt.
The question is:
(a) After having taken out the payment (repayment) protection insurance, is there a certain time that must have expired before he's eligible to claim (that's of course if he were made redundant).
(b) Should he be taking the insurance out with the individual credit card companies (who charge quite a lot for this type of thing) or is there any insurance providers who do combined insurance for this sort of thing.
Many thanks in advance
My boyfriend is worried that he may be made redundant. The likelyhood is actually very slim but nevertheless he's concerned.
He's thinking of taking out payment insurance for credit card and loan debt.
The question is:
(a) After having taken out the payment (repayment) protection insurance, is there a certain time that must have expired before he's eligible to claim (that's of course if he were made redundant).
(b) Should he be taking the insurance out with the individual credit card companies (who charge quite a lot for this type of thing) or is there any insurance providers who do combined insurance for this sort of thing.
Many thanks in advance
0
Comments
-
(a) yes - some 60 days + 90 days + 120 days
(b) and I wouldn't take it with a company who charge more. (+ check terms)Hi, we’ve had to remove your signature. If you’re not sure why please read the forum rules or email the forum team if you’re still unsure - MSE ForumTeam0 -
He will probably find that standalone unemployment cover is the more cost effective option than going for PPI on loans and credit cards.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards