Loan payment protection insurance
From as little as £1.80 per £100 of benefit per month, you can get an instant, online quotation for an insurance policy designed to provide an income to help meet your monthly commitments on your mortgage, loan or credit card repayments, when you are unable to work through accident, sickness or unemployment.
The policy pays out the insured amount, and it is up to you how you allocate it across the range of financial commitments that you are responsible for.
The UK is experiencing an increasing reliance on personal loans, credit card and bank loans, and there is no sign of this changing for the foreseeable future.
Loan payment insurance has been sold extensively in the UK primarily by the major banks and lending institutions that have included it as part of the loan package. In a significant number of cases the loan insurance has been sold without proper reference to the eligibility of the individual, resulting in void claims and major repercussions that have involved the Financial Services Authority.
Personal loan insurance policies to cover against unemployment does not have to be expensive, especially if you are prepared to shop around. The Financial Services Authority is currently working on trying to get firms who sell payment protection insurance (PPI) to "treat customers fairly". This was initiated after it was revealed that many loan insurance policies were being sold automatically, as part of the loan sales process, and without checking eligibility or affordability.
Hopefully this has now been brought to an end, and the vulnerable consumer can now shop around for loan insurance without hindrance or high pressure sales techniques, and to this end this web site enables anyone who wants a quote to instantly get figures and apply online at their leisure, without pressure.
The quotation facility above will take you to an online, instant, age related, loan insurance quotation system where you can get a quote and apply online for loan insurance to protect against accident, sickness and unemployment.