Personal loan payment protection insurance
THE DAILY EXPRESS - 4TH MAY 2005
Personal loan payment protection insurance is big business but with high street lenders till reluctant to drop the price of their cover, borrowers wanted to protect their loans if they are unable to keep up payments need to look around for the cheapest cover.
Broker Burgesses, this week launches a monthly loan protection policy that offers a comparable level of cover to the established lenders but at a much lower cost. On a £10,000 loan arranged over five years, Burgesses’ premiums, at £14.85 a month, would deliver a saving of £1,500 over the terms compared to the banks’ own typical cover.
A further advantage is that Burgesses’ borrowers pay monthly premiums rather than being obliged to borrow the total premium up front and then being charged interest on it for the life of the loan.
