Brilliant View - PPI

Payment Protection Insurance (PPI) is offered to borrowers so that they can maintain repayments on their secured loan and avoid getting into debt if they have an accident, are sick or become unemployed.

 Brilliant Loans does not sell PPI and has never sold PPI, we allow brokers to find the PPI products that meet the needs of your clients. This gives both you and your client peace of mind that the right product has been sold.

Key points to watch out for with PPI

• With effect from 29th May 2009 Single Premium PPI has been effectively outlawed
• Regular premium PPI is still available. Brilliant Loans enables you the broker  to advise on the best policy for your client.
• Too many exclusions and only pay out under restrictive circumstances.
• Some policies only cover redundancy so are not suitable for the self-employed.
• The client may not be eligible for payments for up to six months after starting the policy.
• It can sometimes not apply for the full term of the loan.