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PPI and JSA?
Darkhorse1969
Posts: 1 Newbie
I am in full-time employment with no foreseeable job loss, and about to buy a car on 5 years finance.
I am considering taking out separate PPI to cover my repayments in the event of job loss. :think:
However, it seems that with all the PPI type policies I can find on comparison sites they don't pay the lender direct but are instead 'unemployment insurance' and would pay direct to me.
In this case, would the insurance payout be counted as income for the purposes of Income based JobSeekers Allowance and therefore deducted from my JSA? Because if so, obviously there is no point in taking out the cover because if it was deducted I still wouldn't be able to ensure that my car payments were made if I found myself out of work for a period of time. :question:
I am considering taking out separate PPI to cover my repayments in the event of job loss. :think:
However, it seems that with all the PPI type policies I can find on comparison sites they don't pay the lender direct but are instead 'unemployment insurance' and would pay direct to me.
In this case, would the insurance payout be counted as income for the purposes of Income based JobSeekers Allowance and therefore deducted from my JSA? Because if so, obviously there is no point in taking out the cover because if it was deducted I still wouldn't be able to ensure that my car payments were made if I found myself out of work for a period of time. :question:
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