Your options when it comes to loan protection cover
- 10TH AUGUST 2007
Loan protection cover can be a lifeline if you should find yourself out of work due to an accident, prolonged sickness or involuntary unemployment. If you have a good policy then it will pay out after you have been out of work for 30 days and, with some policies will be back dated to day one of your claim.
It will ensure you get a fixed, tax-free monthly income for up to 12-24 months depending on who your provider is, to cover the monthly cost of your loan and credit card repayments.
This will stop any potential problems that could occur should you default on your credit repayments such as a heavy interest charges and negative credit scoring.
However not all loan protection cover is the same. How much you are charged for it and the quality of the product will depend on where and who you choose to purchase it from. If you look online with an independent, standalone specialist provider for your loan protection cover, such as the ethical British Insurance, who is one of the cheapest specialist providers around, then you can save yourself around 80% on premiums when compared to the high street lender.
British Insurance is a standalone and award-winning specialist provider who is headed by consumer champion Simon Burgess. They are the “good guys” in the sector and Simon has proven this time and time again when he has spoken openly about how the high street banks and lenders “rip-off” the consumer by putting huge profits they make on loan protection cover ahead of the consumers’ best interests.
So when it comes to buying loan protection cover as your lifeline, then visit British Insurance, who can not only give you among the cheapest instant online quote for the cover but honest and free advice on the suitability of loan protection cover.
