10:13 24 April 2013
Many people believe they will never need to take advantage of something like Payment Protection Insurance, so they typically opt out of those programmes offered by various companies. In many cases, this might be correct. It only takes one flooded job market, or struggling business laying-off employees to throw everything off-kilter.
Preparation is one of the best ways to ride out economic hurdles and unexpected issues like unemployment. Those who are already unemployed won’t be covered if they try to obtain Payment Protection Insurance. It’s too late then, which is why in this case preparation and planning is critical.
Self-employed people, and contract workers may not be able to collect benefits from Payment Protection Insurance, but they should check with the individual companies to see what the policy is.
These are a few of the benefits when you opt into a Payment Protection Insurance (PPI) plan:
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