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Please help. Is home protection insurance PPI?
deaniesuckles
Posts: 1 Newbie
Hi please help.
I have a policy which I was advised I had to have when I took out a mortgage back in 1997.It's called a Home Protection Plan and I have premium protection benifit. I'm not sure if this is just life cover or critical illness as well. Is this this the same as PPI?
The mortgage broker said I had to take this out or I would get the mortgage and still have this running presently
I have a policy which I was advised I had to have when I took out a mortgage back in 1997.It's called a Home Protection Plan and I have premium protection benifit. I'm not sure if this is just life cover or critical illness as well. Is this this the same as PPI?
The mortgage broker said I had to take this out or I would get the mortgage and still have this running presently
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Comments
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I'm not sure if this is just life cover or critical illness as well. Is this this the same as PPI?
No. Life assurance is Life assurance. Life assurance plus CIC is life assurance plus CIC. PPI is PPI.The mortgage broker said I had to take this out or I would get the mortgage and still have this running presently
A number of lenders still had life assurance as mandatory in 1997. However, even if it wasnt, this is 8 years prior to regulation.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Home protection plan is also another name for buildings and contentsI am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
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