Income Protection Insurance

Eileen1

Can anyone tell me if there's a difference between Payment Protection Insurance and Income Protection Insurance please?

[Deleted User]

Yes. Income protection provides an income (or part thereof). PPI makes repayments on a specific debt.

SonOf

Eileen1 wrote: »

Can anyone tell me if there's a difference between Payment Protection Insurance and Income Protection Insurance please?

Yes there is. Indeed, they are covered under different parts of the FCA rule book. Income protection tends to be issued by friendly societies and Life assurance companies. PPI tends to be issued by General Insurance companies.

Indeed, they are very different products.

Eileen1

Thank you. So it's not something you could claim back like PPI then?

SonOf

Eileen1 wrote: »

Thank you. So it's not something you could claim back like PPI then?

No its not. Nor is car insurance, house insurance, life assurance and most other insurances.