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Payment Protection Insurance

Payment Protection

 

PPI is a range of insurance products to help consumers meet their payment obligations on outstanding financial commitments in the event of involuntary unemployment, accident, sickness (disability) or death.

 

 

Consumer Benefits

    Helps consumers meet payment obligations and maintain financial status and lifestyle; protects the relationship with the lender and helps avoid arrears and repossession.

Distributor Benefits

    Helps to manage their capital needs by reducing the frequency and severity of delinquency on loan portfolios; provides an additional stream of income and helps to differentiate the core loan offer.

Genworth offers a diverse range of PPI products:PPI Product Listing

Auto Loan Protector
  • Our Auto Loan Payment Protection helps customers to repay car loan if you are unable to work due to accident, sickness, disability or involuntary unemployment.
  • In these circumstances, we will meet the monthly repayments for up to 12 months or until the customer returns to work. In addition, there is typically a life cover that will pay off the outstanding balance in the case of death. No medical underwriting is required.

Commercial Loan Protector
  • Our Commercial Loan Payment Protector and Keyman Insurance products are designed to ensure a business can continue to function even if key members of the team have an accident, become sick or die.
  • It helps businesses to manage a period of instability without incurring financial penalties, fatal interruptions to cash flows or loss of reputation. It is available to cover up to 4 named individuals. Certain higher life benefits may require medical underwriting.

Mortgage Payment Protection
  • Our Mortgage Payment Protection product is designed to ease the financial burden of monthly mortgage repayments in the event of the homeowner being unable to work due to accident, sickness, disability or involuntary unemployment.
  • It provides reassurance and helps to safeguard a very important asset from the threat of repossession during difficult times. The level of cover can be tailored to suit customers' needs, with additional benefits available to cover mortgage related expenses and provide extra reassurance. No medical underwriting is required.

Personal Loan Protection
  • Our Personal Loan Payment Protection will help customers to repay personal loan if you are unable to work due to accident, sickness, disability or involuntary unemployment.
  • In these circumstances, we would pay the monthly repayments for up to 12 months or until you return to work. In addition, there is typically a life cover that would pay off the outstanding balance of the loan in the event of death. No medical underwriting is required.

Revolving Credit Payment Protection
  • Our Revolving Credit Payment Protection provides customers with assistance with credit card repayments and other credit arrangements (such as overdrafts) if you are unable to work due to accident, sickness, disability or involuntary unemployment.
  • Typically, this protection would pay a percentage of a customers outstanding card balance or overdraft limit on a monthly basis for up to 12 months or until you return to work. In addition, a life cover would pay off the outstanding balance in the event of death.

Customer Service
contact us Phone 020 8380 3000†
†Monday to Friday, 9am - 5pm
Important Information