Shane Craig, of income protection specialists Paymentcare.co.uk, says: “We are being bombarded with enquiries from all sectors, and the common theme is that people are finding the cover offered by high street lenders exorbitantly expensive. A growing number of applicants are telling us that they’ve always thought PPI to be a good thing but simply can’t afford the prices the high street lenders want to charge. But while workers want the safety net of knowing they can cover outgoings in the event of being made redundant, they do not want to pay through the nose – which is why we are taking a lot of business away from the high street.”
Income protection insurance: News update: September 2008
