PPI on Mortgages and Life Assurance?

LuisaBennett

Hi, I'm just wondering if it's actually important to keep any Payment Protection cover on things like life assurance policies and mortgages? I've notice that I am paying 91p per month for protection on my life assurance policy, but having spoken to the company it actually seems that I do need it? What do other people think?

[Deleted User]

As long as the insurance covers you for the possible claimable events you expect it to and is suited to your personal circumstances, it's really your own choice.

To say anything else would constitute financial advice.....

dunstonh

I'm just wondering if it's actually important to keep any Payment Protection cover on things like life assurance policies and mortgages?

You cant get PPI on life assurance. You can on mortgages.

I've notice that I am paying 91p per month for protection on my life assurance policy, but having spoken to the company it actually seems that I do need it?

That is more likely to be waiver of contribution. That is not PPI. However, as you say, it is a benefit that can be valuable.

This is one of the problems with mass campaigns, the good side of things often gets drowned out by the bad. Loan and credit card PPI was typically wasteful. MPPI on the other hand could be valuable.