
		HOME \| Membership Websites \| SMM Solutions \| CRM Solutions \| Online Training Systems \| Publishing \| Clients \| Guarantee \| Log In

Is Loan Payment Protection Insurance A Good Buy?

Submitted by Eliza Hickman | RSS Feed | Add Comment | Bookmark Me!

Loan payment protection insurance can be a great buy and it can provide a valuable safety net on which to fall should you find yourself out of work due to an accident, long term sickness or unemployment. The cover can provide you with a tax-free monthly income which enables you to pay your commitments without worry while you get back to work. The period of time you are usually covered for is typically up to 12 months, though with some policies it is up to 24 months, which is usually more than enough time for you to get back on your feet.

However the policy is only a good buy if you choose it carefully and wisely. Sadly the industry has been blighted by the negative publicity surrounding loan protection with the high street lenders being the main culprits when it comes to selling over-priced, sometimes unsuitable, cover.

If you want to protect yourself with loan payment protection insurance then you should shop around and go to a standalone provider. A specialist who only deals in payment protection will be able to offer you the cheapest premiums along with giving you the best advice regarding the policy. One of the biggest findings by the Financial Services Authority’s recent investigation into the sector was that policies were being mis-sold with the consumer having no hope of claiming on it should they actually come out of work. The majority of times the reason why the policy had been mis-sold was due to the exclusions within the policy which the consumer wasn’t aware of. High street lenders have very little knowledge when it comes to selling protection policies and this is why it is always safer to buy from an independent provider.

So, is loan payment protection a good buy? Yes it can certainly can be, but only by looking carefully at what the policy offers and determining if it is suitable for your needs.


Contact Us Support and Sales

LinkedIn Recommendation:

Jason Stanard - President - GreatCircle Studios - Teo is not only a professional a joy to work with he is also very knowledgeable in his field. I would highly recommend Teo and NetTeams. Sincerely, Jason Stanard, President GreatCircle Studios - February 5, 2009, Jason was Teo's client

Featured [publicity] Articles:

Net-Teams - Helping Businesses Prosper With Custom CRM, SMM and Online Training - Net-Teams, Inc. (NTI) is a technology and marketing firm and offers access to a core set of system t...

The Benefits Of A Membership Program For Your Website - Building membership through your website allows you to automate the acquisition of prospects and cus...

eWorkshop Hosting - The More Effective Way to Build Your Business with Online Ed - More and more companies are using eWorkshops to reach out to customers, prospects and employees. An ...

eWorkshop Publishing From Net-Teams - As many people are discovering, self-publishing is a time consuming venture, which takes time away f...

What is Social Media Management And Why Is It So Critical? - Whether or not you have a customer relationship management (CRM) system in place, there is one key r...

Related Tags (related articles): publicity (221), Income Protection Insurance (10), Mortgage Protection Insurance (10), MPPI (10), PPI (703)