Payment Protection Insurance

willowanne

I aim to take out PPI for my existing loan and I'm trying to wade through the small print. It says something about ceasing employment due to third parties. I just wondered if I would be covered if I had to leave my job to look after my children, currently being cared for by my partner, if he were to leave me. I couldn't afford childcare for both of them (they're under nursery school age)so would be forced to leave my job. Is this kind of thing covered does anyone know or will i just have to trawl through the small print for different companies?

dunstonh

very unlikely that would be covered as it is a choice to leave.

Xbigman

Every affordable PPI policy I've seen only covers *you*. IE *You* are sick or made redundant.
You'll find third party intervention (IE family members problems) are always excluded. Which is unfortunately what you are looking for.
Keep looking but don't hold out much hope.
Regards


X

Debt_Free_Chick

I just wondered if I would be covered if I had to leave my job to look after my children, currently being cared for by my partner, if he were to leave me. I couldn't afford childcare for both of them (they're under nursery school age)so would be forced to leave my job.

I've been wracking my brains trying to think of something but I think it would ultimately come down to an informal maintenance agreement or support from the CSA. Neither is likely to cover the cost of childcare, though. You could insure your partner for death. For sickness, though, income protection only covers him for loss of earnings from paid employment .... so that wouldn't work.

I'm fairly sure that the type of policy you want doesn't exist, but it might be worth calling a few brokers to see if they know of anything. You don't have to use them, but it could be useful research.

Regards