Payment protection insurance
Insurance cover arranged by the borrower to protect against inability
to meet mortgage payments due to sickness disability or unemployment owing to
As such this cover would be more appropriately called accident, sickness and
redundancy insurance due to the fact that unemployment cover is generally
restricted to events that are entirely beyond the control of the insured person.
Typical exclusions include being sacked or voluntary redundancy. The accident
and sickness cover will also be subject to restrictions such as any act of self
inflicted injury or any injury related to the use of alcohol or drugs.