Insurance
Payment protection insurance
Payment protection policies are normally offered to you if you take out a loan, mortgage or credit card. These policies are designed to help you meet commitments if you are unable to work due to illness or redundancy. However, most of these policies exclude pre-existing medical conditions. These types of policies are available to protect most forms of personal credit, including mortgages, personal loans and credit card repayments.
These policies are often difficult to claim under, especially on medical grounds, for people with diabetes. While they do have their place they are commonly sold as part of the finance package and often people do not understand that they have purchased the policy.
This class of policies has recently been referred by the Office of Fair Trading (OFT) to the Competition Commission. As always we recommend that you carefully read the policy wording including the exclusions and make sure you are fully aware of the cover provided.
For further details or to get a quote on any insurance policies referred to in this leaflet, including travel insurance, call Diabetes UK Insurance Services on 0800 731 7431 or visit the website www.diabetes.org.uk/services