4 Good Reasons Why You Need Payment Protection Insurance

4 Good Reasons Why You Need Payment Protection Insurance

Being creditworthy is something everyone should strive for. This provides great help when you require a loan or need a mortgage to secure a home. However, you need to be able to pay your loans and pay the required amount in time.

Failure to observe the required agreement will warrant greater consequences for your actions. The payment protection insurance, on the other hand, provides a way out for you. Circumstances may occur that may render you unable to pay your loan at the required date, by which the insurance company give you the amount to pay, and you, therefore, remain safe.


What is covered?

Entering into every contract requires agreements between two persons. Based on your agreement, you will secure the policy that best suits your needs and that which will adequately cover your needs. Items covered include sicknesses or disabilities, unexpected redundancy, accidents or even death. All this depends on your policy. Most policies don’t cover existing conditions, the first three months and some illnesses are also not covered. Be careful to adequately read the policy document before entering into any agreement negligently.

So, why do you need payment protection insurance? I’ve come up with 4 good reasons:


1. To protect yourself against unforeseen contingencies

Accidents are impossible to predict. You could be well now yet you don’t know what will happen next. To protect yourself against unforeseen contingencies that may leave you and your family struggling, taking an insurance cover for your payments is somehow advisable. This reduces your worries and gives you peace of mind as you undertake your business.

2. Your loan is payable over long periods of time

Sometimes one may forget of their obligations, more so where they have been experiencing stress over some time, or have been so occupied, and one ends up forgetting the payment. Taking an insurance cover will always cover your loan expense upon claiming, the good thing being, on claiming, the money can only be used to repay the loan.


3. You need not worry about your items being confiscated

In case you have quite a large mortgage to repay, taking cover will be an appropriate decision. Instances may occur, such as unexpected redundancy that may make you unable to repay the mortgage for quite some time. But if you had the cover you need not worry about your items being confiscated to repay your loan as it’s well taken care of.

4. You are paying the loan alone

In some cases, spouses or partners may agree to jointly take a loan, and both contribute to its repayment. In case one lacks the money one time, the other can easily cover the expense. In instances where you alone are paying the loan, it’s advisable to take a cover for your loan payments.


Choosing a PPI policy

Before taking the mortgage, you must evaluate the means of income that can be used to repay the loan. This includes savings or other monthly incomes you receive. If it happens you are not able to adequately pay the loan amount, consider taking a loan protection insurance for future insurance.

When you make the decision to protect you and your family from any unexpected outcome of default payment by taking a cover, it is always advisable to consider a few thing such as:

  • The features of the PPI policy
  • The length of payout
  • The amount of payout

The time allowance a PPI claim can take to complete mostly depend on the complexity of the policies involved. Fill up the form and send it back to them as soon possible so that they’ll be able to process the claim immediately. This could take around 8 to 16 weeks.

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Junie Rutkevich

Game Developer of iXL Digital

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Last Updated on September 20, 2018

How to Stay Calm and Cool When You Are Extremely Stressful

How to Stay Calm and Cool When You Are Extremely Stressful

Being in a hurry all the time drains your energy. Your work and routine life make you feel overwhelmed. Getting caught up in things beyond your control stresses you out…

If you’d like to stay calm and cool in stressful situations, put the following 8 steps into practice:

1. Breathe

The next time you’re faced with a stressful situation that makes you want to hurry, stop what you’re doing for one minute and perform the following steps:

  • Take five deep breaths in and out (your belly should come forward with each inhale).
  • Imagine all that stress leaving your body with each exhale.
  • Smile. Fake it if you have to. It’s pretty hard to stay grumpy with a goofy grin on your face.

Feel free to repeat the above steps every few hours at work or home if you need to.

2. Loosen up

After your breathing session, perform a quick body scan to identify any areas that are tight or tense. Clenched jaw? Rounded shoulders? Anything else that isn’t at ease?

Gently touch or massage any of your body parts that are under tension to encourage total relaxation. It might help to imagine you’re in a place that calms you: a beach, hot tub, or nature trail, for example.


3. Chew slowly

Slow down at the dinner table if you want to learn to be patient and lose weight. Shoveling your food down as fast as you can is a surefire way to eat more than you need to (and find yourself with a bellyache).

Be a mindful eater who pays attention to the taste, texture, and aroma of every dish. Chew slowly while you try to guess all of the ingredients that were used to prepare your dish.

Chewing slowly will also reduce those dreadful late-night cravings that sneak up on you after work.

4. Let go

Cliche as it sounds, it’s very effective.

The thing that seems like the end of the world right now?

It’s not. Promise.


Stressing and worrying about the situation you’re in won’t do any good because you’re already in it, so just let it go.

Letting go isn’t easy, so here’s a guide to help you:

21 Things To Do When You Find It Hard To Let Go

5. Enjoy the journey

Focusing on the end result can quickly become exhausting. Chasing a bold, audacious goal that’s going to require a lot of time and patience? Split it into several mini-goals so you’ll have several causes for celebration.

Stop focusing on the negative thoughts. Giving yourself consistent positive feedback will help you grow patience, stay encouraged, and find more joy in the process of achieving your goals.

6. Look at the big picture

The next time you find your stress level skyrocketing, take a deep breath, and ask yourself:


Will this matter to me…

  • Next week?
  • Next month?
  • Next year?
  • In 10 years?

Hint: No, it won’t.

I bet most of the stuff that stresses you wouldn’t matter the next week, maybe not even the next day.

Stop agonizing over things you can’t control because you’re only hurting yourself.

7. Stop demanding perfection of yourself

You’re not perfect and that’s okay. Show me a person who claims to be perfect and I’ll show you a dirty liar.

Demanding perfection of yourself (or anybody else) will only stress you out because it just isn’t possible.


8. Practice patience every day

Below are a few easy ways you can practice patience every day, increasing your ability to remain calm and cool in times of stress:

  • The next time you go to the grocery store, get in the longest line.
  • Instead of going through the drive-thru at your bank, go inside.
  • Take a long walk through a secluded park or trail.

Final thoughts

Staying calm in stressful situations is possible, all you need is some daily practice.

Taking deep breaths and eat mindfully are some simple ways to train your brain to be more patient. But changing the way you think of a situation and staying positive are most important in keeping cool whenever you feel overwhelmed and stressful.

Featured photo credit: Brooke Cagle via

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