Summary:

Payment protection plans have not enjoyed a good press. Now the Post Office has entered the market with their new PPI Product.

Payment Protection Insurance. It's in the post. Page 2

Author: Dot Piper

The cost of PPI can escalate the overall cost of your loan. The Bank

Private Medical Insurance. Finding The Right Policy for You: An excellent introduction to medical insurance
Options for Cheap Health Insurance: A useful read if youre thinking about health or medical insurance.
Medical Insurance. NHS Consultants go private!: NHS Hospital Consultants support the case for private medical insurance. This article explains.
Expensive health insurance? Ways to cut the cost.: The cost of health insurance has risen sharply. Re-assess your needs and there may be healthy savings to be made.
Health Insurance and Their Different Types: A brief intro to the topic of health insurance
Protecting Your Health With Private Medical Insurance: Discusses some of the things you need to think about.

Life Insurance News

of Scotland figures work out to an APR of 22.7% when PPI is included. This is worked out on a loan of £10,000 borrowed over 5 years. The normal amount repaid, including interest, would be just over £11,650, but with PPI it would rocket to just over £16,100. This is in line with the bigger banks.

The Office of Fair Trading is currently investigating the marketing of the PPI. In 2005 the Financial Services Authority were severely critical regarding possible mis-selling after it became apparent that many companies were failing their customers in that they omitted to take reasonable steps to ensure the correct policies were sold to them.

The Post Office hopes to address some of these points and is { cheap secured loans } entering the PPI market with a new stand-alone Lifestyle Protection policy. It claims to offer a better standard of cover than is generally offered by lenders and is certainly looking very competitive when it comes to premiums. The product is not { cheap mortgages } tied in with Post Office products and offers cover for all loans, from whatever source. A plus point is that payments are back-dated to the first day of the incapacity, whereas with most policies this only begins after the first month. However, it may be less appropriate for higher earners due to a ceiling on benefit of 60% of gross monthly income. As always, compare the small print! The policy is underwritten by Axa.

The Lifestyle Protection rate per £100 worth of cover is £4.50. Compare this to the big five banks average of £26.58 and the Post Office is obviously worthy of consideration.

However, even with the Post Office's new scheme, { mortgage quotes } the internet remains the most competitive when it comes to PPI's. Cover can be had for £4 per £100 cover and an internet broker will search through a choice of schemes in order to choose the one to suit your own personal circumstances.