Cheap loan protection can be found
- 3RD DECEMBER 2007
Despite the fact that there has been bad publicity surrounding cheap loan protection it is still an exceptionally worthwhile product to have as long as you have checked that it is suitable for your circumstances. You can do this by reading the key facts but historically these can be harder to get hold of than gold, unless you buy from a standalone provider.
The key facts hold the exclusions and these are what could mean loan payment protection insurance is not suitable. Typical exclusions include being of retirement age, self-employed, suffering an ongoing illness or if you only work part time. Providers can put in others so it is essential to have access to the full terms and conditions before making a decision.
If you want cheap loan protection then you have to take it out independently with a standalone specialist in payment protection. A specialist such as British Insurance is more ethical than the high street lender and will make sure you get the facts you need before buying, plus at the best price possible. British Insurance, for example can save you around 80% on the cover when compared to the high street lender.
Cheap loan protection from British Insurance could start to pay you an income to cover your loan repayments if you should become unable to work due to suffering from an illness, accident or unemployment. Cover starts once you have been off work for 30 or more days and would continue to give you a tax free income for up to 12 months.
Although payment protection has earned itself a bad name it is important to remember that it is not the actual product that is at fault but the way in which it is sold without the necessary information. Cheap loan protection cover from the award winning British Insurance comes with all the information needed for you to make an educated decision when choosing your policy.
