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Payment Protection Insurance
Payment protection Insurance will pay your monthly payments on any motor finance agreement, mortgage, or any type of loan if you become unemployed or cannot work due to accident or sickness.
What is Payment Protection Insurance?
A unique policy that allows you to protect your monthly loan/vehicle repayments against
- Accident
- Sickness
- Unemployment
Payment Protection Insurance provides cover that will help you to keep your vehicle by maintaining your monthly repayments during difficult times
Who can buy Payment Protection Insurance?
Payment Protection Insurance is offered to any private individual that is purchasing a car or some other form of finance in their own name.
Finance agreements that would qualify are
- Personal Contract Purchase (PCP)
- Hire Purchase
- Lease Purchase
- Personal Contract Hire
Payment Protection Insurance is not available to companies
Payment Protection insurance is available to you if you are self employed
Example:
| Original Cost of your car: | £20,000 |
|---|---|
| Deposit: | £2,000 |
| Amount of loan: | £18,000 |
| Period of loan: | 36 months |
| Your monthly repayment: | £500.00 |
12 Months later you are made redundant, have an accident or become ill and cannot work!.
Payment Protection Insurance will pay the driver of the car £500.00 per month so they can keep up the payments for their vehicle.
Maximum number of payments for Unemployment is 12 months
Maximum number of payments for Accident/Sickness is 12 months
Protect your investment and avoid financial worry... Buy Payment Protection Insurance online today
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Alexander Lauren Associates Ltd is
authorised and regulated by the Financial Services Authority. FSA Firm Reference No 310043
We are proud to be
Investors in People since 1999
If we are unable to settle your complaint with us, you may be able to refer your complaint to the Financial Ombudsman Service.
Further information is available at www.financial-ombudsman.org.uk