payment protection ?

skippergonzo

I just applied to top up a fairly small amount on a b of i loan i have
and the payment protection is 50 euro a month that's 600 euro pa for 5 yrs
is there any alternative to protecting these payments with another company
as it seems very expensive to me ?
any info greatly appreciated:)

tenchi-fan

skippergonzo wrote: »

I just applied to top up a fairly small amount on a b of i loan i have
and the payment protection is 50 euro a month that's 600 euro pa for 5 yrs
is there any alternative to protecting these payments with another company
as it seems very expensive to me ?
any info greatly appreciated:)

how exactly are the payments protected?
If you lose your job?
Or if you become ill?
As usual with these policies, make sure to read the fine print.

There may be better options which could offer a lot more and would be tax deductible, such as an income protection policy with another life assurer.

skippergonzo

14000 total car loan
i wouldnt mind if it was life assurance /mortgage protection whatever but this is just in case you get sick etc it got me out of a hole years ago due to illness so i feel i need it but it was a yes or no question but its bloody expensive so i was considering any alternative arrangement i could find

Ogham

Surely they can't force you to take out payment protection?
There is a big thing in the UK now where companies are being forced to pay back payment protection premiums because they wer missold.
It's usually too expensive for the cover it provides.