Cheap payment protection is available to all
- 6TH DECEMBER 2007
If you know where to look then cheap payment protection is available to everyone, you just have to know your options when it comes to taking out the cover and do not take it with the loan but instead choose to buy the cover independently.
Although the majority of the high street lenders will almost force their loan cover onto you at the time of taking out the borrowing, this is not the best way to get cheap cover. High street lenders hike up the cost of cheap loans by selling payment protection for huge premiums. Cover bought this way is often of inferior quality when compared to standalone specialists such as British Insurance and can cost you up to 80% more than had you chosen to go with an independent provider.
Cheap payment protection and a quality product backed by experience in selling this type of cover are only available from the likes of British Insurance. Knowing the product and what it is and is not capable of doing is a must if you do not want to be mis-sold the cover and an ethical specialist will ensure you have access to the exclusions. It is these which determine the product’s suitability.
Typical exclusions include retirement, self-employment, working part time and any ongoing illness.
Cheap payment protection from British Insurance can give you peace of mind and a monthly income from day 31 of being out of work due to suffering an accident, illness or redundancy. The cover would continue for up to 12 months if needed but other providers may ask you are off work for anything up to 90 days before the cover commences.
Sadly the majority of people that take out the cover do so alongside their loan and then find when they need to claim they cannot, due to the exclusions. Stick with ethical specialists British Insurance if you want to be sure you get the key facts and are able to make an informed decision when buying cheap payment protection.
