For the cheapest payment protection insurance shop around
- 25TH SEPTEMBER 2007
If you want the cheapest payment protection insurance quote then shopping around and going independently for the cover is the only way to get a quality product along with making savings on your policy.
Payment protection insurance is an umbrella term which is used for mortgage payment protection, income protection and loan payment protection insurance. All of these will pay out a fixed tax free income if you were to find yourself out of work due to having an accident, prolonged sickness or unemployment. However you can choose whether to take the cover for just accident and sickness; or, unemployment only; or for all three - accident, sickness and unemployment - together.
Payment protection cover will begin to pay out after you have been out for work for 30-90 days depending on your policy terms and conditions and will continue to pay out for up to 12 months (and with some insurers for up to 24 months). All policies do have exclusions within them which mean that you might not be able to make a claim under your payment protection cover and this is why it’s essential that you buy the protection from an independent specialist provider such as British Insurance.
A payment protection insurance specialist such as British Insurance will ensure that you are given the information you need regarding the exclusions and the key facts, which means that you are able to decide for yourself if a policy is suitable for your circumstances before you buy the product.
Typical exclusions in most payment protection policies include being self-employed, retired, only in part time employment or suffering from a pre-existing medical condition. The actual exclusions will vary among the providers and also the amount of information that you are given regarding the policy before you buy it. Luckily British Insurance gives you all the information that you need in order for you to make the right decision regarding the policy's suitability along with the cheapest payment protection quote.
