Insurance Cover for Contracts with Recurring Monthly Payments
Insurance cover for gas and electricity bills, telephone bills, contributions to savings schemes and insurance policy premiums.
Payment Protection Insurance can be used to cover all regularly recurring payment obligations. This includes for example gas and electricity bills, telephone bills, contributions to savings schemes and insurance policy premiums.
The insured risks include unemployment and incapacity to work. Because the loss of income when drawing sickness and unemployment benefits can be considerable, it is precisely these costs that are covered most urgently, thus relieving the pressure on the household budget.
The concept of payment protection cover is mostly connected with a specific core product (e.g. an insurance contract), however can also stand alone (i.e. independently of a core product). In this case the agreed insured sum will be paid out.