With unemployment rate at a 7 year low, people are becoming acutely aware of the impact on their lives if they lose their jobs and are unable to pay their mortgage.

According to the Association of British Insurers (ABI), one million workers a year find themselves unable to work due to serious injury or illness. Designed with tailorable cover in mind, this product is ideal for brokers who wish to help their clients protect themselves if the unfortunate event of unemployment occurs.

Payment Protection insurance cover details

What’s covered
  • Common cover options are:
    • Accident & sickness only
    • Accident, sickness & employment
    • Unemployment only
  • Pre-existing conditions under certain circumstances
What’s not covered
  • Voluntary redundancy.
  • Some high risk occupations.
Optional cover
  • Hospitalisation and carer cover.
Ways to trade
  • Schemes – Build your business by offering bespoke personal lines insurance which meets your customers’ exact needs.

Explore the Payment Protection insurance market

Market information
  • The self-employed are less likely to have a day off for sickness than those employed by a firm.1
  • In 2014, sickness absences were lowest in London in comparison to the rest of the UK.2
  • Some 2.6 million in the UK are on incapacity benefit, and of these, 1 million have been claiming for a decade.3

1, 2: http://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/labourprodu..., 3: http://www.dailymail.co.uk/news/article-1332622/UK-tops-chart-number-you...