Loan protection insurance cover can be a safety net
- 10TH OCTOBER 2007
If you want the safety net that loan protection insurance cover can bring then you have to choose to buy the cover independently as this is the best way of getting the information that you need to make sure that a policy would be suitable for your particular circumstances.
Some generic reasons which stop you from making a claim include if you are only in part time work, are retired or if you have suffered from a pre-existing illness within the last 2 years. These are just some of the common reasons and there are others and this is why one of the most ethical standalone specialists of loan protection insurance cover, British Insurance, insists you read the small print of any policy you are interested in purchasing.
British Insurance have been selling loan protection insurance cover for years’ and as they only deal in payment protection insurance products they know the products inside out and can pass this experience onto the consumer with their award winning products.
Loan protection insurance cover from British Insurance will usually pay you a monthly tax free sum after the 30th day of being out of work due to suffering from an accident, sickness or unemployment and will continue to give you peace of mind for up to 12 months. Policies from other providers can take as long as 90 days to begin paying you, so you have to check the key facts of a policy along with the small print and exclusions.
Loan protection insurance can be a safety net but only if you take the advice of a specialist and avoid the high premiums that are charged by the high street lender. High street lenders often offer inferior products for high premiums and give very little information regarding the cover at the time of selling, which gives anything but the peace of mind that the policy should.
