mortgage payment protection insurance

carlos1963

hello ,im after some advice about the ppi .ive cancelled my current policy -(they want £31 amonth for the next 12 months). planning to get a cheaper deal- of which there are many!!.reading through some of the terms i got the impression that if i recieved redundancy payment the policy would NOT kick in. Or am i reading it wrongly?. any info appreciated
regards carl

dunstonh

planning to get a cheaper deal- of which there are many!!

although do note that PPI has a horrendous claims pay out rate and many of these new internet based ones tend to be lower quality.

reading through some of the terms i got the impression that if i recieved redundancy payment the policy would NOT kick in. Or am i reading it wrongly?

Its quite possible that some have that clause. Some (most) won't though. However, if you want to pay less than expect the cheaper ones to have more clauses or options to reduce the cover.