If you are concerned about your health or job security then taking some form of Payment Protection Insurance (PPI) may provide peace of mind. PPI is also known as Accident,Sicknessand Unemployment(ASU) insurance.
In exchange for a monthly premium,PPI pays you a set amount of money to cover some or all of your costs ifyou are unable to work either because you have been made redundant (no good if you are sacked) and/or because you are unable to work due to ill heath.
Never buy PPI with another financial product
Whatever you do EveryInvestor advises that you do not accept PPIbundled with a loan or any other financial product. Only ever take this insurance outfrom an independent provider as a standalone product. Most online loan quotes automatically include the price of a costly PPI policy. Always recalculate for a quote without PPI. Then, if you want the PPI, compare our best buy provider's policy and price. You will be pleased that you did.
If you are self-employed then most unemployment payment protection policies are useless for you. It is unlikely that you will be eligible to claim. Always check the details of this insurance very carefully to avoid wasting money.
