Loan payment protection insurance can help to keep you out of debt
- 7TH OCTOBER 2007
If you were to lose your income after coming out of work due to suffering from an accident, sickness or through unemployment such as redundancy then you would have the worry about how you would meet your loan repayments each month to keep yourself from getting into debt. Loan payment protection insurance is the solution.
Loan payment protection insurance can be taken out alongside the loan from the high street lender but taking the cover this way can add hundreds more onto the cost of the loan than it needs to should you have chosen to buy the cover independently from a specialist provider. One such specialist provider is British Insurance; they can offer among the cheapest premiums around and also back up their loan payment protection insurance policies with free advice and experience.
The company is headed by Simon Burgess who is very passionate about the way the high street banks and lenders “exploit” their customers with overpriced, often unsuitable loan payment protection insurance. The high street banks and lenders have been found guilty of selling inferior cover for huge profits while putting the consumer last.
Simon is considered to be one of the “good guys” in the sector and can not only help you to save up to 80% on loan payment protection insurance but will make sure that you have the advice you need to ensure the product’s suitability for your circumstances. Simon warns that there are exclusions which can stop you from making a claim and some of the most common reasons include being retired, self-employed, suffering from an illness at the time of taking out the policy. British Insurance will give you the key facts and vital information regarding a policy so that you can make an informed decision.
Providing a loan payment protection insurance policy would be suitable for your needs then it would begin to payout a tax free income after you have been out of work for 30 days with British Insurance but some providers can delay payout until the 90th day of being out of work. The policy would then continue to give you an income for up to 12 months and with some providers for up to 24 months which gives great peace of mind and security. Loan payment protection insurance can do the job it’s designed to do and give you and help you to stay out of debt and a standalone specialist is the best way to go.
