Payment Protection

Payment Protection Insurance (PPI) is designed to protect an insured's monthly financial repayments. Repayments are typically linked to a specific debt during periods of disability as a result of sickness or disability, involuntary unemployment or redundancy – what is known as an Accident, Sickness and Unemployment (ASU) policy. Typically PPI would include options to provide life and/or critical illness cover.

Disability (Accident and Sickness) Disability cover pays the relevant repayment during the period of disability as a result of accident or sickness.

Unemployment Unemployment cover pays the relevant repayment during a period of involuntary unemployment or redundancy.

Life Life cover pays off the settlement figure or outstanding balance at the date of the life assured’s death.

Critical Illness Critical illness cover pays off the settlement figure or outstanding balance at the date of the life assured being diagnosed with a critical illness (such as a heart attack, stroke or cancer) which prevents them from returning to work.

For more information on these and other products, please contact Ed O’Regan.