The payment protection insurance covers the monthly instalments in case of incapacity for work or involuntary unemployment after a waiting period of three months. In case of incapacity for work the insurance covers your monthly instalments for as long as the loanee is incapacitated, up to 24 months. In case of involuntary unemployment up to twelve instalments are covered, provided that the loanee was employed for more than one year and had an open-end contract. In case of death the insurance takes over all of the outstanding instalments.