For the cheapest loan insurance quote shop around
- 7TH NOVEMBER 2007
Just as with any product you are going to buy, you can get the best deal if you shop around and compare prices. And when it comes to getting the cheapest loan insurance quote possible then you should do the same.
However do not shop around on the high street for the quotes, as taking out cover with the high street lender can cost you up to 80% more than had you got a loan insurance quote from a standalone specialist such as the ethical British Insurance.
British Insurance are a specialist payment protection provider who only sell products related to payment protection, which are loan insurance, payment protection and income protection. In the case of loan insurance it could give you an income once you have been out of work after suffering an accident, sickness or unemployment. These payments will run for a defined period of time, this can be anywhere between the 30th day as with British Insurance and the 90th day of being out of work with other providers and would then continue giving you a lump sum for between 12 and 24 months.
The money you get each month is tax free and can make the difference between you struggling to find the money each month to continue meeting your loan or credit card repayments and risk getting into debt or easing the worry and recuperating knowing your monthly income will cover your loan repayments.
You do have to take the advice of a specialist and all ethical specialists will give you the key facts and make you aware that there are certain conditions that could make you ineligible to claim along with offering the cheapest loan insurance quote. Common exclusions include being in part time work, suffering an existing medical condition, being self-employed or retired but always check the small print because there can be more depending on the provider.
If you want the cheapest loan insurance quote then shop around for the quotes but you will not find a better quality product for cheaper premiums than a policy offered by ethical payment protection specialist British Insurance.
