MPPI Advice Please

candypop

HI

I currently have a mortgage (redundancy cover) with paymentshield which has increased twice in the last 6 months from £23 to £36. :mad: I also have separate sickness and disability cover on my mortgage with bright grey at £35 per month. I have been on iprotect's website and they have quoted redundancy and sickness/disability cover with for £34 a month. This maybe a stupid question but should I cancel both my current policies and take out this new one.

Cautious_Investor_3

Hi

Be really careful here that the benefits of the new plan match what you have at the moment.

I may be wrong but I suspect that the Bright Grey policy will pay an income if you are off work due to illness or accident until you either return to work or you hit a certain age as specified in the policy document, generally between 55 and 65. The sickness cover that runs alongside unemployment cover generally only pays out for a mximum of 12 or 24 months.

Check the wording carefully before you decide to change.

The Cautious Investor

dunstonh

I seem to recall that the Iprotect product is not as comprehensive.

As CI says above, the Bright Grey policy is not likely to be PPI but PHI. That typically trumps PPI in terms of coverage except for unemployment.

I currently have a mortgage (redundancy cover) with paymentshield which has increased twice in the last 6 months from £23 to £36. :mad:

Paymentshield are not known to look at the low budget market like Iprotect do. Paymentshield have a much better reputation on claims and quality. I am not saying theirs is the best but you do know what you are getting with them. The same cannot be said for many of these internet based PPI companies (who created the whole problem with PPI premium changes and refunds to begin with).