Debt Consolidation Loan

Good Policies For Loan repayment

Commission on selling these loan protection policies can be as high as 75% of the premium. Income protection can be bought from a number of suppliers online. But check that it covers your requirements and that you have declared any pre-existing conditions. If you don’t, the insurer will refuse to pay out on any illness related to the pre-existing conditions.

You shouldn’t have to pay more than £3.50 a month for each £100 a month of loan repayment cover. A good policy will cover the loan repayments for up to two years, and will offer ‘back to day one’ cover once a claim has been accepted.

Burgesses, one of the market leaders in this type of cover, has launched a monthly loan protection policy that is far cheaper than those offered by most lenders - in some cases, Burgesses claims, as much as 80% cheaper. It offers back to day one cover instead of a usual 60-day excess. It can be cancelled at anytime by the borrower. Full details online at www.britishprotection.com.

Source : CityWire.co.uk - London,England,UK