Safeguard your monthly loan repayments with a loan insurance policy
- 15TH SEPTEMBER 2007
If you want to safeguard your monthly loan repayments against the possibility that you might find yourself unable to work and are worried about where you would find the money to carry on meetng your loan repayments, then you should look into taking out a loan insurance policy.
A loan insurance policy will give you a tax free income each month to ensure that you wouldn’t struggle to find money to carry on making your loan repayments if you lost your income through accident, prolonged sickness or involuntary unemployment. If you match the conditions set out in a typical policy’s terms and conditions then it would pay out after you had been out of work for around 30 days or more, be backdated to the day you first came out of work and continue to pay out for up to 12-24 months.
However in order for you to be sure a policy would suit your needs you first have to ensure that you have read the exclusions which could stop you from being eligible to claim. Some exclusions in most loan insurance policies include many of the common problems that keep people from work such as stress related illness and back problems, being self employed, only in part time work or being retired.
Finding the vital information to ensure that the cover is right for you can be like looking for a needle in a haystack unless you go with a specialist and ethical payment provider specialist such as British Insurance. Considered to be the “good guys” in the industry, British Insurance are headed by outspoken Managing Director, Simon Burgess. Simon has earned this nickname due to the way that he speaks openly when it comes to looking out for the consumers’ best interests and warning them of how the high street lenders rip off the consumer by charging high premiums for products which are of poor quality. Certainly he ahs a point - when compared to the high street products British Insurance sell for up to 80% less than high street quotes.
A loan insurance policy can give you peace of mind and will protect against the unknown but only when it suits your circumstances and the information and advice that British Insurance offer can help you to make the right choice.
