What
Happens if I Don’t Take Out PPI?
If
the loan company insists on payment protection insurance cover
to get the loan, you might want to consider whether you really
want to take the loan with that particular lender. Have a
think about the cost of the payment protection insurance and
the benefits that will be paid if you make a claim on the
insurance policy. Check whether insurance payments from a
PPI policy would affect the benefits that could be paid from
any other protection insurance that you might already have.
If
you don't take out PPI insurance, you should think about how
you would pay the mortgage, loan or credit/store card payments
if you were had an accident or were sick and were unable to
work or became unemployed.
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