Cover your loan with loan payment protection insurance
- 11TH SEPTEMBER 2007
If you want the protection and peace of mind that a loan payment protection insurance policy can bring then it is essential that you shop round and get several quotes from independent payment protection specialists.
Covering your monthly loan repayments by taking out loan payment protection or ASU insurance as it is sometimes called, means that if you should come out of work due to an accident, sickness or through unemployment then you would have a regular monthly income with which to meet your loan repayments.
A policy could start to pay out after you have been out of work for 30 days or more and give you a tax free income so you don’t have to struggle each month or worry. The majority of loan payment protection insurance policies are back dated to the day you come out of work and continue to pay out for up to 12 months and in some cases with some providers for up to 24 months. Cover can be taken to either protect against coming out of work due to accident, sickness and unemployment, accident and sickness only or unemployment only and this ensures that you get the policy best suited to your needs.
However there are exclusions within all loan payment protection insurance policies and this could stop you from claiming successfully on a policy. Therefore it is essential that the exclusions are explained to you fully before you purchase the policy. Luckily if you go with a standalone provider such as the ethical British Insurance you will be given all the facts and information regarding the product before you purchase it which means you can ensure that a policy is in your best interests.
British Insurance offers among the lowest premiums for their policies which saves you a small fortune when compared to the high street lender. Their products have won best buy awards and have been advertised on TV and in National newspapers are headed by a very outspoken, when it comes to the consumers rights, Managing Director, Simon Burgess. Backed by a competent team who prides themselves on putting the consumer’s best interest first behind making huge profits British Insurance is the place to visit if you want the cheapest quotes for your loan payment protection insurance while buying a quality and reliable product.
