Is payment protection insurance ever a good idea?
Proper income protection insurance is a great idea. Ask yourself what would happen if you were off work for a long period or possibly unable to work at all, where would the income you earn now come from? Benefits, family, friends, savings? The problem with PPI is it was sold mostly by banks to people without making sure it was suitable, met their needs. The products were generally poor quality, rarely paid benefits and were about 70% commission. Financial advisers will give you proper advice on proper products. Hope this helps. | 12.01.12 @ 11:05