PPI for fixed term contract employees

melou

Hello,

I was wondering if anyone might be able to help me with the following...

I am about to leave permanent employment to go onto fixed term contract for the forseeable future (potentially becoming self employed in the next 12 months)

I have PPI on both my credit cards but will no longer be covered by them for employment as per the t's & c's. Although they will still cover me for illness etc.

So, firstly, is there any point me having PPI at all? Secondly, should I stay with my current credit card company provider? And finally, if I change to a different PPI provider do you have any reccomendations?

Thank you all so much!

Melou

ArchieB_2

PPI on Credit Cards is terribly poor value for money and unless you have big balances they are pretty useless. As you are clearly in a state of change it is hard to suggest what you should do other than buy a stand alone AS only policy (some will cover contract workers after 12 months/1 renewal or if you have a 6month contract that has been renewed a couple of times for example).

I would consider a stand alone AS policy until you know your circumstances and then seek advice through an IFA regarding PHI or go straight to an IFA.

Astaroth

I would disagree with ArchieB (for once) - personally I dont like any PPI cover but from my experience (which admittidaly is from one insurance company though many different brands and T&Cs) credit card and overdraft cover were amoung the best as the T&Cs were such that you could continue spending on both the card and/ or the overdraft and the insurer would continue to pay off the debt.

My knowledge of long term insurance is fairly weak though so cannot comment on PHI/ AS etc as an alternative.