Reply To: Payment Protection Plans

#9072
Anonymous
Guest

This is covered quite extensively in the Guidance Manual:

3.558 A claimant may take out an insurance policy to insure against the risk of being unable to

* make mortgage payments on their home, for example because of illness or unemployment
* repay loans, hire purchase or other credit agreements

“HB Sch 4 Para 28
CTB Sch 4 Para 29”

3.559 Payments received from these insurance policies will be disregarded as income provided the policy was taken out to insure against the risk of being unable to maintain repayments

* in respect of loans secured on the claimant’s home, and
* under hire purchase or other credit agreements