Income Protection Inst

Nat07

Hi

I took out an Income Protection Insurance in 2007 with Aviva and I cancelled this in 2014 as with all the hype over PPI, I looked into what was paying for and it was to cover payment of mortgage if became ill and couldn’t afford mortgage payments but my conditions of employment meant I would get 6 months full pay and 6 months half so I didn’t feel I needed it.

My question is, is this PPI? I know it’s not called Payment Protection Insurance (PPI) but Income Protection Insurance but is it the same thing? I’ve read that PPI is additional payment under the heading insurance made to cover sickness/redundancy for a mortgage/loan so is this PPI.

Please help!?

Bermonia

No it is not PPI, it is a standalone policy which provides valuable cover in addition and in excess to your existing benefits.

dunstonh

I took out an Income Protection Insurance in 2007 with Aviva and I cancelled this in 2014 as with all the hype over PPI,

Did you cancel your home insurance or car insurance as well?

My question is, is this PPI?

No.

I know it’s not called Payment Protection Insurance (PPI) but Income Protection Insurance but is it the same thing?

No. It's PHI, not PPI. A different product type that has very little in common with PPI. PHI is the best form of income protection and most people have a finanical need for it.

Nasqueron

Even if it was PPI and you somehow could prove you didn't need it (6 months full / 6 months half on a 25 year mortgage is obviously not enough - if you were sick for a year, how would you pay your bills for the second 6 months with half the income?) then closing it in 2014 means your complaint can be time barred and they could refuse to look at it.