Unemployment loans – Payment Protection Insurance

February 2024 Forums General discussion Unemployment loans – Payment Protection Insurance

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    alanjjohnstone
    Keymaster

    Labour describe them as like student loans but some say Milliband is guilty of  arguing for another spate of Payment Protection Insurance mis-selling scams

     You pay your NI stamp which gives you cradle to grave protection whenever it occurs not just when you have paid in enough – then you find that it doesn’t actually pay enough so you can now get a loan based on your contributions which you pay back when you get a job.
     

    Pay your stamp increased to include insurance premium, and when you are unemployed, you work free for your benefit payment and indenture yourself to the State with a loan you can’t ever repay.

    Am i missing something here?
     

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