Payment Protection covers your financial obligations that result from a Personal / Consumer Loan, an Auto Loan, a Leasing or the using of your credit or customer card.
Should you be temporarily totally disabled (be it due to accident or sickness) or should you loose involuntarily your employment (job), Payment Protection will take over your obligations of the monthly installments.
In case of Death or Permanent Total Disability Payment Protection covers the outstanding balance (open amount of credit, loan or lease).
Therefore:
Payment Protection protects you during times of financial hardship.
Payment Protection provides Peace of Mind – no financial worries for the insured’s family.