What is PPI?

Ever thought what would happen if you were to suffer a serious injury due to an accident? Struck ill? Or suddenly finding yourself unemployed? If planning for the future Payment Protection Insurance could be appropriate for you. PPI can help with the repayments of debts due to loans or credit cards.

For anyone, an unplanned loss of earnings can have drastic effects on their well being and one of the most stressful feelings is a debt hanging over your head that you can not seem to pay back any time soon. Not only does Payment Protection enable you to be more financially stable, mentally it can lift a big burden from your shoulders.

‘It won’t happen to me’ is the very attitude some people may adapt but in our current financial situation it may well end up being you! It is more important than ever to plan for the future, a recent survey conducted highlighted that 2 million people aged between 20 and 65 have been out of work for periods stretching longer than 6 months!

Payment Protection Insurance (PPI) also known as Accident Sickness and Unemployment cover (ASU) has had its critics of late, as people have been quoted as paying a lot more than their actual loan requires. There are even adverts from some companies criticising and claiming that it is sold without the buyer knowing, so in the current climate it is not getting a good press.

Who is PPI for?

PPI is for anyone who is currently in employment and running a home. It can really be a lifesaver for anyone who is buying or renting a home equally, salary loss can affect both of these equally!

So why take out PPI?

So why chose PPI?

So with the number of people without this cover 4 out of every 5, it may be an insurance that needs serious thought and consideration.

If you are looking to claim PPI insurance back you will require the services of a dedicated solicitor. Visit Donns PPI claims. Donns can help recalim PPI.

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