Payment Protection Insurance
What is PPI?
Payment Protection Insurance (PPI) protects you for the repayment of your loan obligations to the financier if you suffer an insured event.
The policy cover options are specific to your source of income at the time of entering into a credit contract. The benefits are payable directly to the financier.
The main risk with having finance is if something happens to your ability to earn money. PPI protects you, your family and your credit rating if the worst happens
With only a minimum stand down period and generous cover for up to 60 months, PPI helps you manage financially when unexpected events occur
ACC only pay up to a maximum of 80% of your income – How would your household react to an instant 20% pay cut?
What are the cover options?
Employee
Insured Events:
Death, Terminal Illness, Accident,
Illness, Disability, Hospitalisation,
Carer, Redundancy, Suspension, Bankruptcy
Everyday Essential
Insured Events:
Death, Terminal Illness, Hospitalisation, Bankruptcy, Permanent Disability
Self-Employed
Insured Events:
Death, Terminal Illness, Accident, Illness, Disability, Hospitalisation, Carer, Bankruptcy, Business Interruption
What are the benefits?
Peace of mind for the unexpected
No medical examination is required to take out a policy
Pre-existing medical conditions are covered if no treatment advice in 6 months prior to the policy start date
Redundancy benefit of up to 12 months
15 day cooling off period
Protects your household income for other purposes and your credit rating
In the event of death, your family does not have your vehicle debt and possible repossession to deal with.
This is a summary only - please contact us to step you through the Autosure PPI policy book for full terms, exclusions, conditions and benefits.