Protection Insurance

What is Paymentcare Loan Protector?
Depending upon the type and level of cover you have chosen, this policy can cover your loan repayments for up to 12 months per claim, if you become unable to work as a result of disability or unemployment. If you choose, this policy can also provide a lump sum payment in the event of your death or diagnosis of a terminal illness.

What are the features and benefits of Paymentcare Loan Protector?
You can choose from the following types of cover:
• Life, Terminal Illness, Unemployment & Disability
• Life, Terminal Illness & Disability
• Unemployment & Disability
• Disability only

Cover for Accident, Sickness (Disability), Involuntary Unemployment, Hospitalisation or Carer Cover in respect of your mortgage repayments and other regular monthly commitments:

Mortgage Protection: Cover available via this mortgage payment protection insurance policy is for the amount of the monthly mortgage repayment plus up to an additional 25% for other monthly commitments.

Mortgage Protection UK: Maximum mortgage payment protection benefit available via this mortgage payment protection insurance policy is £1500 per month or 75% of your normal monthly income, whichever is the lesser for Accident, Sickness (Disability) or Unemployment.

Mortgage Insurance: Maximum mortgage payment protection Benefit Period via this mortgage payment protection insurance policy is 12 months in any one claim period.

Mortgage Insurance UK: The first month’s mortgage payment protection benefit is paid after 30 days, back dated to Day One.

Mortgage Protection Insurance: All mortgage payment protection claims for Accident, Sickness (Disability) and Involuntary Unemployment paid via this mortgage payment protection insurance policy on a daily basis, monthly in arrears

Mortgage Protection Insurance UK: Two months Carer benefit paid via this mortgage payment protection insurance policy after 60 days and then on a daily basis monthly in arrears.

Mortgage Protection Cover: One months Hospitalisation benefit paid via this mortgage payment protection insurance policy after 7 days and then on a daily basis monthly in arrears from day 30.

Mortgage Protection Cover UK: There is a 3 month re-qualification period after each claim.

The need for Credit Card Payment Protection Insurance           

No one knows what the future will hold and if you become unemployed or need to look after a partner, spouse, parent or child full time or you were disabled due to an accident or sickness (Disability) you may not be able to meet your financial commitments. Over 70% of people will not qualify for Income Support and those who do will receive a small percentage of their normal income.

Some facts about credit card protection cover

 Cover in respect of your average monthly outstanding credit card balance(s):

Credit Card Protection —Minimum average monthly outstanding balance cover available is £1000.

Credit Card Protection —Maximum average monthly outstanding balance cover available is £10000 in total.

Credit Card Protection UK —10% of the selected average monthly outstanding balance cover is paid for up to a maximum of 12 months per claim.

Credit Card Payment Protection — One monthly benefit payable after 7 days hospitalisation and thereafter on a daily basis, monthly in arrears.

Credit Card Payment Protection UK — One monthly benefit payable after 14 days Accident & Sickness (Disability) and thereafter on a daily basis from day 31, monthly in arrears.

Credit Card Protection Insurance- — One monthly benefit payable after 30 days Unemployment and thereafter on a daily basis, monthly in arrears.

Credit Card Protection Insurance UK —Two months Carer benefit paid via this credit card payment protection insurance policy after 60 days and then on a daily basis monthly in arrears.

Credit Card Payment Protection Insurance — Life and Terminal Illness benefit paid on death or diagnosis of a Terminal Illness.

Credit Card Payment Protection Insurance —There is a 3 month re-qualification period after each claim.

This Credit card payment protection insurance provides protection in the event of Accident & Sickness (Disability), Involuntary Unemployment, Carer, Death, Terminal Illness and Hospitalisation.

 

January is a good opportunity to compare credit cards and take advantage of zero per cent interest offers, it has been claimed.

According to Paymentcare.co.uk, which provides independent payment protection insurance (PPI), over-burdened borrowers could benefit from a wealth of offers during this period.

However, consumers are also being warned that purchasing PPI from the same company which supplied the credit card can often cost more than it might from an independent provider.

And choosing a highly-priced PPI plan could counteract the benefits of a zero per cent credit card, maintains Paymentcare.co.uk.

In related news, the Financial Services Authority recently announced its plans to improve PPI sales standards.

It intends to ensure that consumers are informed fully and clearly about the optional cover, while being recommended a policy that is appropriate to their circumstances.

Customers should come away from the sale having been given the best possible chance of understanding that PPI is almost always optional," remarked Clive Briault, the FSA’s managing director of retail markets.