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Return to Personal Loans HomeProtection
Can I protect my loan?
No one can be certain what lies ahead in life. That's why planning for the unexpected is so important. An effective way you can do this is by adding payment protection to your loan.
For a modest fee, you can ensure that your monthly repayments will be made for you should you be unable to work through disability, major illness or redundancy. In the event of your death, the loan may be paid in full.
This protection relieves any pressure that your family may feel and provides you with important reassurance.
What does Payment Protection Insurance Cover*?
You can borrow any amount up to £25,000, not just those in the examples above. All car loans come with one years free 'Motor Assist' breakdown cover provided by Mondial Assistance (separate Terms and Conditions apply). Remember, repayments are fixed making it easy to budget ahead and you can choose to take 2 months off from your repayments with our payment break option (months must be chosen prior to draw down of loan).
| Cover | How Long Covered |
| Disability(Accident & Sickness) | 12 months |
| Major illness | loan repaid in full |
| Death | loan repaid in full |
| Unemployment | 6 months |
Please note that there is an arrangement fee of £65. This will be added to the first month's payment.
Typical 9.0% APR for loans of £15,000.
*To make sure the Payment Protection Insurance is suitable for you, please read the full policy Terms and Conditions.
For full Terms and conditions, please refer to our Guide to Personal Banking - 126KB PDF Document.
© Bank of Ireland 2008
