What are the benefits of Personal Account Protection?
- Up to five years’ purchase protection against fire, theft and accidental damage on most items you buy from us;
- We will cover your catalogue payments if you are unable to work due to accident, sickness or unemployment. Alternatively if you currently don’t work we will pay double your outstanding balance if you go into hospital for seven days or more.
- Your outstanding balance paid off if you die or are diagnosed with a critical illness;
- An extra £5000 lump sum paid to your estate if you die because of an accident;
- 24-hour free legal helpline.
Don’t want to protect your catalogue purchases?
- Take out our Account Protection Plan and you will receive all the benefits above excluding the five years purchase protection.
Am I eligible?
- If you are aged between 18 and 79, live in the UK and have a personal account with us.
How much will it cost me?
Personal Account Protection costs 2% of your outstanding balance each statement
- For example, the monthly cost of payment protection insurance for every £100 outstanding covered is £2. For a typical balance of £71.00, it will cost you £1.43.
- The monthly cost of payment protection insurance for every £100 of monthly benefit is £8.30
Account Protection costs 1.98% of your outstanding balance each statement
- For example, the monthly cost of payment protection insurance for every £100 outstanding covered is £1.98. For a typical balance of £71.00, it will cost you £1.41.
- The monthly cost of payment protection insurance for every £100 of monthly benefit is £8.31
How do I apply?
- In order to sign up; logon to ‘My Account’ and click on the ‘Protect your Personal Account’ banner.
- Follow the process through by selecting your employment status and considering the benefits of both options.
- Or call us on 0871 231 2000 and ask to speak to the insurance administration department.
This payment protection insurance is optional. There are other providers of payment protection insurance and other products designed to protect you against loss of income. For impartial information about insurance, please visit the website at www.moneyadviceservice.org.uk.