Many financial companies offer plans with small monthly fees that are built around helping you in case of unexpected future events that could cause financial concerns. These redundancy payment protection insurance plans are typically formed to help pay your monthly mortgage payments, but some lenders offer protection plans for other monthly commitments, or in many cases your credit card lender will offer a protection plan for your card. You always want to be leary about any plan that causes you money, and although most of these protection plans are worth the small fee, some lenders will overcharge your or mis-represent the plan where you purchase a plan that may already be offered.