SCHÖNBÄCHLER (SCH) INVESTMENTS SÀRL 



Payment protection insurance (PPI) is insurance that will pay out a sum of money to help you cover your monthly repayments on mortgages, loans, credit/store cards or catalog payments if you are unable to work. This may be as a result of illness, accident, death or unemployment and will be covered on your policy.

Payment Protection Insurance (PPI) is a product that enables you to insure repayment of loans, mortgages, overdrafts, credit cards and store cards to protect against accident, sickness, involuntary unemployment, loss of life or default in the loan

Loan payment protection allows you to insure your  loan payments against any default 

You can apply for the Loan payment protection via:

Online             By phone using

Using our Online PPI form to submit your PPI complaint is an easy way to submit the form to us. It’ll take around 5 minutes to complete. You can’t save your progress, so you’ll need to complete it in one go.

Do you have to buy it?

 Many lenders offer this sort of policy when you apply for a loan. You need to weigh up the benefits against the cost of the cover. Under the Central Bank’s Consumer Protection Code lenders should quote for it separate to your loan and must use separate application forms for the loan and the insurance.

What does it cover?

Your insurance company will pay the monthly repayments (or a portion of them) for a fixed period of time. For credit cards, this insurance usually only covers the minimum repayment amount (2% to 5% of the full amount you owe) and may only apply for a limited period of time. Remember that the minimum repayment amount is not enough to reduce your balance quickly.

If you decide to take out PPI, make sure you check the following:

  • The policy conditions to see what is covered and what is excluded. If you suffer an illness that is not covered, the policy would not pay anything in the event of a claim. Some policies do not include redundancy cover, while others do.
  • What benefit would you receive? Many policies only cover a maximum of one year’s repayments and only cover a certain period of time. Cover for credit cards often only pay the minimum payment for a limited period of time.

Payment Protection Insurance Plus

  • How and when can I arrange Payment Protection Insurance Plus?

It is best to arrange Payment Protection Insurance Plus together with your credit agreementHowever, you can also call us at a later date or visit one of our branches directly in order to get some independent advice.

  • What is covered by Payment Protection Insurance Plus?

Payment Protection Insurance Plus protects you against involuntary unemployment, illness, accidents or if you are unfit to work.

  • Will I need to pay back the insurance proceeds?

No. The insurance proceeds which are paid out do not need to be paid back.

  • How much will I pay for Payment Protection Insurance Plus?

The premium for your Payment Protection Insurance Plus is charged on the basis of your monthly financing payment and the cash sum insured. You pay your insurance premium along with your monthly financing payment.

Sample calculation for Payment Protection Insurance Plus for a cash loan of CHF 25,000:
Monthly financing payment:
CHF 650.-
Payment Protection Insurance Plus:
CHF 75.90 (CHF 42.90 (6.6% of the financing payment) plus CHF 33 (6.6% of the insured cash sum of CHF 500))
Total monthly payment:
CHF 725.90

Can you cancel a PPI?

You can cancel PPI at any time. If you pay off your loan or hire-purchase agreement early, cancel your credit card or if you simply decide you no longer need this cover, ask your lender to cancel your direct debit and cancel the policy. If you paid the insurance ‘up front’ you may be entitled to a refund of the remaining term. Ask your lender about this.

Can your premium increase?

Yes. Check with your provider and ask about the circumstances that could lead to the increase.


  • Reasonable price

The insurance fee is 3% of the amount of monthly mortgage or small loan payment. For example, if your monthly loan payment is € 100, insurance payment is € 3.

  • Conclusion of the contract is easy and convenient

You can conclude the contract on the Internet. Your contract for loan payment protection insurance shall remain in force as long as your loan contract and shall automatically expire upon termination of the loan contract or until the loan duration