Loan payment cover can ease the stress of unemployment
- 10TH OCTOBER 2007
If you should be unlucky enough to find yourself unable to work due to suffering from an accident, sickness or down to unemployment such as by redundancy, then you could find yourself getting into debt if you don’t have the money to carry on meeting your loan repayments. Getting into debt would bring great stress into an already difficult situation, but you can insure against it if your circumstances allow it by taking out loan payment cover.
Loan payment cover can be taken out alongside the loan but this can add a lot more onto the cost of the borrowing than had you decided to take the cover out independently from a standalone and ethical payment protection specialist. One such specialist who is always on the consumer’s side and doesn’t put huge profits ahead of the consumer’s best interest is British Insurance. Headed by Simon Burgess who is always campaigning for the consumer and who speaks openly when it comes to the way that the high street lender “rips-off” the consumer, Simon urges individuals to shop around for the best and cheapest premiums. British Insurance can save you around 80% on loan payment cover and also give you the essential key facts so that you make sure a policy would be suitable for your needs.
Loan payment cover can give you a tax free payout each month once you have been out of work for a pre-defined period of time which can be anything between 31 days and 90 days and will then continue for up to 12 months and in with some providers for up to 24 months. Check to make sure that you eligible to claim because if you are working part time, are retired, or suffer from a pre-existing medical condition then a policy might not be in your best interests. British insurance will do anything they can to make the consumer is aware of the exclusions within a loan payment cover policy and that you should shop around and get several quotes for the cover.
