It’s nearly a week since the law was changed to stop the sale of piggy back protection products on top of loans and mortgages. Anyone taking out a new loan or mortgage (is there anyone out there?) now has fourteen days before the lending company is allowed to contact them to sell PPI products.
This cooling off period was introduced a after Competition Commission report recommendation, to stop the misselling of protection products to desperate customers who would often accept these one off payment charges as they didn’t want to jeopardise the borrowing.
So with less than a week to go before phones start ringing in all those lucky houses who have managed to secure borrowing, InsuranceBlogger advises anyone to call bar those numbers and shop around on the Internet for much better deals on loan payment protection insurance and mortgage payment protection insurance.
There are many independent companies out there offering better protection cover for far cheaper premiums. They will also offer you products that will be more suitable to the risks of accident unemployment and sickness (ASU) which can cover your whole lifestyle rather than just a small portion of it should the worst happen.
One Such company is Personal Accident who offer a range of independent quality PPI and lifestyle insurance products.