Payment Protection

Protect your loan with optional Personal Loan Payment Protection Insurance

If you’re taking out a Personal Loan, you can help protect your loan with optional Personal Loan Payment Protection Insurance. The underwriters of the insurance are Aviva Insurance Limited in respect of the accident or sickness, unemployment and carer cover; and Aviva Life & Pensions UK Limited in respect of the life cover.

This provides cover for your monthly repayments if you are unable to work due to accident, sickness, involuntary unemployment, or if you leave work to become a carer for a member of your immediate family. It also provides life cover to repay the outstanding loan balance in the event of your death.
This cover doesn’t just take care of your loan repayments but includes a free and confidential ‘back to work’ service that includes tailored unemployment advice and where appropriate, a rehabilitation service for accident and sickness claims.

Personal Loan Payment Protection Insurance is optional and does not affect the likelihood of being accepted for your loan. If you are making a joint loan application, only the first named applicant can apply for Personal Loan Payment Protection.

Why choose Personal Loan Payment Protection Insurance?

• Cover – if you are unable to work for 30 days or more in a row, you could receive a monthly benefit that covers your loan repayments.
• Duration of payments – we could make these payments for up to 12 months for unemployment, carer and accident and sickness claims
• Life cover – if you die we’ll pay the outstanding balance of your Personal Loan at the date of your death, up to a maximum of £30,000. If you have more than one loan with Santander UK plc and Payment Protection Insurance protects each loan, the maximum life benefit payable for all loan accounts will not exceed £30,000.
• Back to work – as part of our unemployment cover we’ll provide independent, confidential advice to help you get into work including job searching support, CV writing and interview techniques
• Back on your feet – for accident and sickness claims we offer a rehabilitation service with access to a specialist website, clinically run helplines and, where appropriate, arrangement of suitable treatment

For more information on Personal Loan Payment Protection Insurance, please read the policy summary and policy document . You should read the policy summary before you apply so that you understand the eligibility conditions and exclusions, and what happens if your circumstances change or, you cancel your insurance.  The policy document contains the full terms and conditions and you will receive this if you take out the insurance.

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How do I apply?
You can only apply for optional Personal Loan Payment Protection Insurance when you submit your Personal Loan application.