Mortgage Insurance ukHypothekenversicherung Great Britain
Installment insurance (PPI), sometimes also known as accident, health and unemployment insurance (ASU). It is possible that you have taken out this insurance with a private borrower or your own bank account. This will help you maintain your repayment of your loans by disbursing a fixed amount for up to 12 or 24 month. Temporary insurance for protecting one' s earnings (STIP).
The insurance covers part of your earnings for a certain amount of money (usually 12 or 24 months). Do not confuse this with other personal insurance schemes, which usually do not provide a return if you loose your jobs. You may not have realized in the past that you already have this coverage due to the way your cash flow insurance policy was purchased.
Check with your creditor to see if your mortgage, your mortgage or your debit cards are insured. Learn more under Do you need an Installment Insurance (PPI)? For more information see Do you need a short-term personal insurance (STIP)? Although you may have paid the premium for many years, if you need to take out some policy, you only need to do so for a limited time - usually one year.
Installment insurance (or mortgage repayment insurance) usually only insures your loans or mortgage payments, but not your earnings. Though some mortgage payout guidelines disburse an additional amount to help with other bills. What's more, some mortgage payout guidelines do not cover the cost of paying out a single additional amount. Temporary insurance provides a portion of your earnings (usually 50% or 60%) instead of being linked to repayment of debts.
A lot of contracts do not immediately disburse themselves - there is almost always a shortfall of about three month before the beginning of paying. You should, however, make a claim as soon as you loose your employment. Do the same if you cancel voluntarily - the insurance company normally does not disburse. When you do, please review your account thoroughly as you are not covered by many of our secure online billing practices.