Payment Shield mortgage protection - very good service

Sazzyukrafc

Just wanted to say thanks after reading advice and posts on this forum we realised we were entitled to money from Payment Shield for our mortgage protection insurance.

We understood we had to have the insurance for so many months, but after reading another post on here I looked and we didn't!

My fiance has been out of work since autumn last year (construction industry) and we claimed back to day one.

From the claim going in, it took just over one week for Payment Shield to put a few thousand into our bank account.

I really do recommend Payment Shield if you're looking for mortgage protection, they've been so easy, friendly and quick to deal with. They did all the work, all we had to do was fill in one form.

Once again, thanks for this great forum, as we no longer have to worry about money

TEDDYRUKSPIN

Paymentshield are good as long as you abide to the rules. This actually applies to all other companies. Paymentshield are actually one of the biggest companies out there for MPPI.

Anyway, great news.....at least this insurance works. Too many people have slated this insurance as they don't understand how it works.

dunstonh

Paymentshield are rarely the cheapest. Often at the better end on MPPI/PPI but you will usually find someone cheaper but they do have a good reputation for claims. Its good to hear they did well for you.

jessbob

Paymentshield have been brill for me as well. Was made redundant in Feb this year, and their staff have been extremely helpful at all times.

RobGu

I am with Paymentshield and will be made redunant this month.
I know I am covered for the mortgage payment so no worries there.
My question is, if I receive from my employer a redunancy payment, will I need to tell Paymentshield and if so, will they insist I use that to pay my mortgage before the policy begins to pay the mortgage.
Many thanks

orourk

Hi,

I have had mortgage protection cover with payment shield for a few years and was made redundant at the end of April. At the time I didn't think I would need to use the cover but unfortunately I do so I submitted a claim.

I am still trying to sort out my claim now five months later. After having got forms completed from the job centre, my previous employer, sending copies of bank statements, redundancy letters, etc ... Paymentshield keep coming back saying they need yet more information. I have had to hassle my previous employer several times to satisfy these requests and all I find is that there is yet something else that needs answering.

I only ever get an update on things if I actually ring up their help line, and it is 5 - 10 days wait time between chase ups if they don't receive the required information, so it takes a ridiculous amount of time to get any progress. That plus their 'backlogs' of claims means that to get an email answer to one of their questions registered on the claim takes upwards of 3 - 4 weeks at a time.

The other comments on this thread are positive about this company but believe me, if you want piece of mind when you are unemployed, then you are better off saving the money yourself than relying on this company! :mad:

dheaton

I took out Paymentshield mortgage protection cover 7 years ago but now I need it they are refusing to pay out. I was recently part of a small, failing business and was terminated without pay as there was no money in the company. Paymentshield are now refusing to pay out, claiming I resigned or took voluntary redundancy, neither of which is true. Avoid this company as they do not provide the service you pay for.

dunstonh

dheaton wrote: »

I took out Paymentshield mortgage protection cover 7 years ago but now I need it they are refusing to pay out. I was recently part of a small, failing business and was terminated without pay as there was no money in the company. Paymentshield are now refusing to pay out, claiming I resigned or took voluntary redundancy, neither of which is true. Avoid this company as they do not provide the service you pay for.

That has nothing to do with Paymentshield. Every insurer would have taken the same approach. Being employed by a family member makes your ability to claim much harder.

Paymentshield would have written to the company owner/directors and their response sealed your fate.