The calculations are only a guide and should not be taken as actual figures
The payment protection insurance policy pays your loan or hires purchase agreement repayments if you are unable to work because of sickness, an accident or unemployment. It will also provide benefit in the event of your death.
Eligibility for payment protection is covered under the policy of each finance company.
Payment protection insurance is a standard add-on feature for many large loans such as car loans and other large bill obligations that could become a true nightmare should a disability or death occurs. This plan can offer a true measure of security for those who have grave reservations about how a large debt would be paid should a disaster strike. Any person with a small savings reservoir or someone heavily in debt would be a prime candidate for such a safety-net plan. Making sure that a plan is sound and customer friendly remains the responsibility of the buyer.
Reminder: The calculations are only a guide and should not be taken as actual figures