 TITLE: What Is a Payment Protection Plan? CONTENT: Downsides of a Payment Protection Plan\n--------------------------------------\nPayment protection plans can help some consumers, but they're not for everyone. Keep these potential downsides in mind before you sign up for one:\n*   Many payment plans have conditions and exclusions. For example, it might not be available in your state, or the specific hardship you want protection from might not be covered by your lender. For example, payment protection plans often won't protect you if you lose government benefits such as Social Security or pensions.\n*   The payment plans are extra products you have to add on; you can't get the benefits if you don't add on and pay for this extra protection. This also means you may pay for this service and never end up needing it or even be able to qualify for using it.\n*   Disability and life insurance plans may do a better job of covering your needs and protecting you financially. END