PPI - Ever a good idea?

CLAPTON

presumably before you took out this 22k loan you already owed £22k on various cards etc...did you feel the need then to have PPI (as the amount owed was the same and the consequences of sickness/redundancy would be the same?)


have you read the small print for PPI. does the particular mix of risk / benefit suit you...would you have chosen that mix if it hadn't been presented as a package.
does your job offer any of these benefits anyway..sick pay of six months etc.etc.
is your job secure..are you likely to be made redundant and if so could you easily get a new job?
does the PPI pay off the debt or merely the monthly payments for a limited time...if only the payments what would you do after that time?

if you do decide you want it and you can afford it , can you get it cheaper elsewhere (i would guess almost certainly yes)

there is a fairly general agreement that many of these policies either dont pay out at all or pay much less that you are expecting.

sanfrancisco

Most of them will only pay out for a year as well AND will not pay out for the first three months. Total Bulls**t.

My advice, knuckle down and pay the debt off, then you won't have to worry.