consumer protection act http://www.artwoo.com Returned search results for consumer protection act Copyright 2008 Sun, 23 Nov 2008 02:55:37 +0000 http://www.artwoo.com/rss/consumer+protection+act Is Loan Payment Protection Insurance A Good Buy? http://www.artwoo.com/article/is-loan-payment-protection-insurance-a-good-buy http://www.artwoo.com/article/is-loan-payment-protection-insurance-a-good-buy#comments Thu, 19 Jul 2007 19:21:13 +0000 loan payment protectionpayment protection insurancestreet lenderscarefullyloan protectionprotection policiesbritish insurance http://www.artwoo.com/article/is-loan-payment-protection-insurance-a-good-buy 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 and wisely. Sadly the industry has been blighted by the negative publicity surrounding with the high being the main culprits when it comes to selling over-priced, sometimes unsuitable, cover.

If you want to protect yourself with loan 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 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. Simon Burgess is Managing Director of the award-winning (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Loan Payment Protection Insurance Still Facing Problems http://www.artwoo.com/article/loan-payment-protection-insurance-still-facing-problems http://www.artwoo.com/article/loan-payment-protection-insurance-still-facing-problems#comments Tue, 15 Jan 2008 12:35:00 +0000 payment protection insuranceloan payment protectionstreet lendersloan repaymentsfsa officespecialist providerprofit maker http://www.artwoo.com/article/loan-payment-protection-insurance-still-facing-problems payment protection insurance (PPI) sector and set out guidelines which those selling the cover were to follow, over 4,000 cases of mis-selling are being investigated in 2007. While this fact alone is bad enough, the figure is twice that of the year before, giving consumers cause for concern when buying insurance.

It was hoped that mis-selling would cease following on from the FSA, Office of Fair Trading and Competition Commission investigations, but with the figure doubling it seems that much more has to be done if mis-selling is to end. The majority of mis-selling occurs with the high who sell the cover alongside their loans, putting huge profits ahead of the consumer's best interests. Loan protection is a huge which rakes in over =A34 billion a year and greedy high street lenders do not want to lose this profit margin.

A far better way to purchase loan payment protection insurance is to take out the cover with a standalone . Always make sure when taking out a loan or credit card that the cover has not been included because although this should be mentioned it has been known to have been included without the consumer being aware. A specialist provider will be more ethical and will make sure the consumer has access to the key facts of the cover and so known about the exclusions which could stop them from being eligible to claim. Common exclusions include if you only work part time, suffer a pre-existing illness, are of retirement age or are self-employed but there can be others.

Once you have checked the exclusions to determine if loan payment protection insurance would be suitable then cover could begin to provide you with a tax free income from between the 31st and 90th day of being out of work. If you continued to be out of work then the cover would provide you with an income to take care of your monthly for between 12 and 24 months. This would give you great peace of mind and help to keep you out of debt at the very least.

A change for the better is on the horizon with the introduction of comparison tables in March 2008. It is hoped that the comparison tables will lead to the family of protection policies being more transparent to the consumer and so are able to decide which product would be more suitable. This will be achieved by a series of questions which the consumer will answer and lead to the right payment protection product. Along with this information will be given regarding the exclusions and also the total cost of the protection which means the consumer is able to make an informed decision regarding the suitability of the product.

While the comparison charts are a step in the right direction when it comes to the consumer getting the right advice they cannot replace the advice and information an independent specialist provider can give. They also cannot change the fact that a standalone provider will offer the cheapest premiums for loan payment protection insurance which can save you hundreds of pounds on the cover. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Do You Know Where To Look For Cheap Mortgage Protection? http://www.artwoo.com/article/do-you-know-where-to-look-for-cheap-mortgage-protection http://www.artwoo.com/article/do-you-know-where-to-look-for-cheap-mortgage-protection#comments Wed, 09 Jan 2008 20:25:00 +0000 mortgage payment protection insurancemortgage payment protectionpayment protection insurancerepaying your mortgagemortgage protectionspecialist providerretirement age http://www.artwoo.com/article/do-you-know-where-to-look-for-cheap-mortgage-protection mortgage protection is possible to find but you do have to know where to look for it. Taking out mortgage protection alongside your borrowing can add hundreds more onto the cost of the cover than it needs to. A far better way to buy your protection is to go with a standalone . You can get quality cheap mortgage protection if you choose to buy the cover independently.

Another reason why you should take the cover with a specialist is the information regarding the exclusions that almost all specialists should make available. You have to read the key facts of mortgage protection before buying as this is where you will find the exclusions and terms and conditions which could mean a policy would not be suitable for your circumstances. It is also where you can find out how much the cover will cost in total.

The exclusions can vary from provider to provider but there are some that are common to all policies. If you work part time, are self-employed, suffer a pre-existing medical condition or you are of then you probably would not be eligible to claim. However do check the small print for additional exclusions relating to the provider.

If the insurance policy is suitable then it can give you the money needed each month to continue if you were to be off work due to suffering an accident, sickness or through unemployment. Cover would start to pay out anywhere between the 31st and 90th day and would then continue with a tax free income for between 12 and 24 months. You have to read the key facts to determine the terms and conditions of the policy you are considering taking out along with the exclusions as these vary depending on providers.

Cover has been mis-sold in the past and faith in payment protection products has waivered as a result. However, changes for the better which will be seen in March 2008 with the introduction of comparison tables and it is hoped these will begin to restore confidence in the product. The tables will be based on a series of questions, when answered correctly the consumer will know which cover is most suitable for their circumstances. The tables will also point out the exclusions in a policy and make sure the consumer understands how much the cover will cost in total. It is worth checking for eligibility of the cover as the State cannot be relied upon to provide you with the money needed to pay your mortgage. Even if you are eligible to receive help the financial assistance you are given might not be enough to save the roof over your head.

When taken out correctly cheap mortgage protection can give you a safety net and provide you with an income but you have to choose a policy very carefully. Choosing to take your cover with a specialist provider is the only way to get cheap mortgage protection and also be assured of having a quality product. As a specialist is more ethical and does not put profits ahead of the consumer you can buy with peace of mind that the policy is backed up by experience in selling payment protection products. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Income Protection Can Be Invaluable, But The Sector Is Still Confusing http://www.artwoo.com/article/income-protection-can-be-invaluable-but-the-sector-is-still-confusing http://www.artwoo.com/article/income-protection-can-be-invaluable-but-the-sector-is-still-confusing#comments Sat, 10 Nov 2007 20:34:58 +0000 income protectionpayment protectionoutgoingsoffice of fair tradingcircumstancesprotection policiesprotection products http://www.artwoo.com/article/income-protection-can-be-invaluable-but-the-sector-is-still-confusing Income protection is taken out to ensure that if you were to come out of work due to suffering an accident, through sickness or if you were to become unemployed by such as redundancy then you would still have an income with which to pay your essential .

Providing income protection is suitable for your it would begin to provide you with a tax free income to replace up to a certain amount of your lost income each month once you had been out of work for a certain length of time, which can be anything between 31 and 90 days of being out of work. Once the cover had started to payout then it would continue for between 12 and 24 months depending on the provider and it would make sure that you could pay your essential outgoings and so not make a huge difference to your lifestyle.

However just as will all the family of there are reasons which could stop you from claiming on a policy which means income protection might not be suitable for your circumstances. While exclusions can differ slightly between policies there are some that are common to all policies and these include being of retirement age, if you are self-employed, only in part time work or if you suffer from an ongoing illness at the time of taking out the policy. It is essential that you check the small print of a policy because this is where the exclusions can be found and they can make the difference between you being able to claim and being stuck with a policy that's useless.

The exclusions are just one of the many reasons why income protection and the rest of the family of are confusing and it is hoped that soon policies will be easier to understand. In 2005 the received a super complaint from the Citizens Advice which led to an investigation by the Financial Services Authority and the subsequent handing out fines for mis-selling of payment . The main reason for the mis-selling was a lack of information being given to the consumer and from the investigation it was stated that firms were to make huge improvements to their selling techniques. While changes have been made the latest news is that there is still very little progress been made in three out of the five key areas that needed to be improved, which means that payment protection of which income protection is one, is still confusing.

This might change in March 2008 with the introduction of comparison tables by the Financial Services Authority. The tables will ask a series of questions so that the consumer can determine which policy is suited to their needs along with laying out the exclusions and key facts and telling the consumer exactly how much the cover will cost. For now if you want income protection the safest and cheapest way to purchase it is by going to an independent specialist provider for your cover, a specialist will not only save you money on the premiums each month but also give you the advice you need to ensure that a policy is suitable for your circumstances. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Check Out Uk Mortgage Protection Insurance Before Buying http://www.artwoo.com/article/check-out-uk-mortgage-protection-insurance-before-buying http://www.artwoo.com/article/check-out-uk-mortgage-protection-insurance-before-buying#comments Tue, 20 Nov 2007 05:20:02 +0000 mortgage protection insurancemortgage payment protection insurancepayment protection insurancemortgage payment protectionuk mortgagespecialist provideroffice of fair trading http://www.artwoo.com/article/check-out-uk-mortgage-protection-insurance-before-buying mortgage protection insurance before you buy if you want to ensure that you have a policy to meet your needs and a quality product without paying over the odds for the cover. Historically, the high street lender will charge way over the odds for the cover when compared to the standalone . Over the term of your mortgage this can cost you literally thousands of pounds.

protection insurance can help you to continue repaying your mortgage if you lose your income through becoming unemployed; or suffering from an accident or an illness which keeps you off work for any length of time. Cover will usually begin to payout after a set period of time which can be anywhere between the 31st day and the 90th day after the event and would then continue for between 12 and 24 months which should be ample time to get well or find alternative employment.

You do have to realise that there are exclusions in all policies that can stop you from making a claim. Exclusions that are typical to most policies include if you are suffering from an ongoing illness at the time of taking out the cover, if you are self-employed, of retirement age or if you only work in a part time position. The exclusions should be mentioned at the time of taking out the policy but the high street lender can be lax here, however a standalone specialist provider tends to be more ethical - as payment protection insurance is their core business - and will always make this information available in plain English.

It is the lack of information that causes so many problems with the sector and the Financial Services highlighted this in 2005 when they began an investigation into the payment protection industry following a super complaint from the Citizens Advice to the . Several high street names received fines for unsavoury sales practices.

However in March 2008 it is hoped that a big change for the better will occur when the Financial Services Authority introduces new comparison tables which will make buying the product easier for the consumer. The table should make the product more transparent by asking the consumer a series of questions which will then point out which payment protection product is the most suitable for their needs along with highlighting the fact that there are exclusions in the policy and how much the cover will cost in total. Up to this point these have all been serious failings when it comes to selling payment protection products which have left the consumer confused about what they have actually bought and if it is suitable for their needs.

For the time being if you want the safety net that UK mortgage protection insurance can give then buy the cover independently from a standalone specialist provider who will not only be able to offer the cheapest premiums for the cover but also give you the advice you need to ensure a policy is right for your needs. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), insurance (MPPI) and loan payment protection insurance. ]]> Cheap Loan Protection Made Easier To Understand With The Introduction Of Comparative Tables http://www.artwoo.com/article/cheap-loan-protection-made-easier-to-understand-with-the-introduction-of-comparative-tables http://www.artwoo.com/article/cheap-loan-protection-made-easier-to-understand-with-the-introduction-of-comparative-tables#comments Tue, 13 Nov 2007 03:24:58 +0000 loan protectionloan payment protectionfull time workinvestigationloan repaymentsoffice of fair tradingsuffering http://www.artwoo.com/article/cheap-loan-protection-made-easier-to-understand-with-the-introduction-of-comparative-tables Loan payment protection can be a very valuable product to have in your corner if you are in , you meet the criteria set out in the policy and you have monthly to make each month. However the cover can be very expensive and finding cheap can be very hard unless you choose to buy the protection independently from a standalone specialist provider.

A specialist can offer quality products for the lowest premiums and cheap loan protection taken out with them can save you up to 80% when compared with the high street lender. The Loan protection can give you an income to replace your lost one if you should come out of work after from an accident, through sickness or if you find yourself out of work by such as redundancy. Policies start after you have been out of work for a set period of time which can be anywhere between the 31st day and the 90th day and they continue paying out for up to 12 months although some providers will payout for up to 24 months.

The income you receive is tax free and will give you the money each month to make sure that you can continue to pay your loan repayments and so not get into debt. However you do have to make sure that a policy is suited to your circumstances because policies do have exclusions, while these can differ from policy to policy some of the most common exclusions include only being in part time work, suffering an ongoing illness at the time of taking out the policy and being of retirement age.

Cheap loan protection has come under fire since the began into the sector in 2005 when the found out that there had been wide spread mis-selling of policies. The Financial Services Authority began an investigation into the sector which resulted in several major high street names receiving fines and being asked to make the product easier to understand for the consumer at the time of selling. Following the investigation, which is still ongoing, the sector was referred to the Competition Commission who is conducting an in-depth review which is expected to reach conclusion by February 2009.

One of the most recent changes for the better when it comes to giving the consumer information at the time of taking out the policy, the Financial Services Authority announced that starting from March 2008 comparative tables are going to be introduced.The introduction of the tables will make it easier for the consumer to work out which type of cover is the most suitable for their needs based on a series of questions and not only covers payment protection but also highlights the fact that payment protection should be shopped around for.

Currently the payment protection specialists are one of the most cheapest ways of getting payment protection along with getting all the necessary information needed to make sure that you get a policy suitable for your needs. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> What Is The Fair Credit Reporting Act? http://www.artwoo.com/article/what-is-the-fair-credit-reporting-act http://www.artwoo.com/article/what-is-the-fair-credit-reporting-act#comments Sat, 26 Jan 2008 01:29:59 +0000 debt collection actconsumer credit informationdealing with debt collectorsfair debt collection actconsumer reporting agenciesfair debt collectionpersonnel insurance http://www.artwoo.com/article/what-is-the-fair-credit-reporting-act consumer credit information along with the Fair . This forms the base of consumer credit rights in the U.S. This act also sets up guidelines for debt collectors on how to conduct business rights of consumers involved with debt collectors.

These acts protect those in debt from being harassed from creditors and to allow debtors to receive true and fair discharged debt information on a credit report. These acts are set in place so that debtors are fairly treated when paying debts, or trying to purchase homes after bankruptcy.

You can find details on these protection acts online or at your local library. Knowing and understanding these acts can help you to protect yourself from creditors or other agencies taking advantage of your vulnerabilities. The set forth reasonable procedures for meeting the needs of commerce for consumer credit, personnel, insurance, and other information in a way which is fair and equitable to the consumer, in a way that offers confidentiality, accuracy, relevancy, and proper utilization of such information in accordance with the requirements of this act.

After a person files bankruptcy and debts are then discharged, a credit report can still show the bankruptcy but the debts that are discharged must show a balance owed at zero due to the FCRA or Fair Credit Reporting Act.

The banking system is dependent upon fair and accurate credit reporting. Without American federal laws such as the FCRA or the Fair Credit Reporting Act debtors and creditors could not be protected from fraud and dishonesty. This act regulates the collection dissemination and use of consumer credit information. Along with the Act, it forms the base for consumer credit rights in the United States.

Without such a law in place creditors could easily turn people away and decline every loan type. Also creditors could abuse client information without this act. If a person has filed bankruptcy and later try's to purchase a home, without the FCRA a client could easily be rejected for the home loan due to the bankruptcy debts being seen as still owed even if they were discharged. The Fair Credit Reporting Act makes credit reports show discharged debts as a zero balance.

This act has guidelines for debt collectors on how to conduct business and defines rights for consumers involved with debt collectors and prescribes penalties for violations of this act. Consumer protection is key to this law. There are other laws such as the Bankruptcy Abuse Prevention Consumer Protection Act of 2005 that aid in consumer protection. There is a solid protection in place for those dealing with debt, credit and bankruptcy. You can see more details about the FCRA on sites such as http://www.epic.org/privacy/financial/fcra.html or by searching for this information at your local library. Understanding this act can aid us in feeling more confident about the credit and banking system. Legal Helpers is a debt relief agency helping people to file for bankruptcy relief under the bankruptcy code. We're one of the largest consumer bankruptcy firms. Bankruptcy attorneys answer the phones six days a week and evenings. http://www.legalhelpers.com ]]> UK Loan Protection Insurance Can Give You Peace Of Mind And Security http://www.artwoo.com/article/uk-loan-protection-insurance-can-give-you-peace-of-mind-and-security http://www.artwoo.com/article/uk-loan-protection-insurance-can-give-you-peace-of-mind-and-security#comments Mon, 31 Dec 2007 02:25:01 +0000 loan protection insuranceloan repaymentsstreet lenderscheap loanscompetition commissioncomparison tablesindependent provider http://www.artwoo.com/article/uk-loan-protection-insurance-can-give-you-peace-of-mind-and-security loan protection insurance gives you an income each month so you are able to continue paying your and not get into debt if you were to come out of work through an accident, sickness or unemployment.

The cover will begin to payout from between the 31st and 90th day of being out of work and would then continue to provide you with a tax free income for between 12 and 24 months depending on the provider. It is essential that you do shop around for the cover because it varies greatly between providers; the exclusions vary as does the cost of the premiums. Buying the cover with an will mean that you get the cheapest premiums possible which can save you a lot of money and along with this they will give you the key facts so that you can determine if the policy is suitable.

Some of the most common exclusions include if you are self-employed, are retired, working part time or if you suffer from a pre-existing medical condition at the time of going for the cover. There can be additional conditions set out by the provider so it is imperative that you do read the small print.

UK loan protection insurance is usually offered at the time of taking out the loan or credit card and is sometimes even pushed alongside the cover without making the consumer aware that there are conditions which could mean a policy would be useless. This was highlighted in 2005 when the Financial Services Authority began an investigation into the sector which resulted in fines being handed out to several well known names on the high street. The payment protection industry is also currently under review by the who recently announced that high are raking in as much as 80% from selling the cover alongside .

One change which will be seen for the better is the introduction of in March 2008, the tables will show the consumer how much the cover will cost and also make them aware that there are exclusions in all policies. The tables will also ask a series of questions which will then lead to the consumer being able to make the right decision regarding which type of payment protection would be the most suitable for their circumstances.

While some changes for the better have been made clearly many more still need to be made if the cover is to become more transparent. For now the only way to buy a quality product along with the key facts attached so you are able to make an informed decision as to whether UK loan protection insurance is suitable is if you stick with an independent specialist. Always be sure to read the small print with any policy that you are considering taking out as this is what led to the majority of mis-selling and a loss of faith in payment protection products. It is important to remember that it is not the products which are at fault but those selling them without the necessary experience which were to blame. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Credit Cards Protection For Purchases http://www.artwoo.com/article/credit-cards-protection-for-purchases http://www.artwoo.com/article/credit-cards-protection-for-purchases#comments Tue, 23 Sep 2008 23:43:32 +0000 trade description actconsumer credit actcredit card providersconsumer protection actbreach of contractoverseas supplierssale of goods act http://www.artwoo.com/article/credit-cards-protection-for-purchases
The other methods of payment in fact provide very little protection for the purchaser other than any specific contract that is in place or recognised laws such as the , and . These acts may well provide protection in different situations but very few people understand them enough to pursue a case using them.

So the specific protection offered by is an attractive option. This protection is not a free service that card companies have decided to offer, it is in fact a requirement of the which requires retailers and credit providers to be jointly responsible for faulty purchases. This applied only in the UK until the House of Lords ruled in 2007 that protection should also apply to purchases made overseas. The credit card companies fought quite hard over a 10 year period against the extension, but when it finally came it was welcomed by APACS, the Association for Payment Clearing Services.

So what does this protection actually cover? Well it means that should goods fail to arrive, get damaged in transit, arrive faulty or not function properly, then the purchaser can claim a refund from the credit card company. The cover extends to goods costing between £100 pounds and £30,000 pounds and even covers goods that have been paid for but not delivered after the supplier has gone bust. The extension of protection to cover overseas was seen as an important move to support the growth of internet transactions from .

For a consumer to be able to lodge a claim against their card company they must be in a situation where a has occurred and that is usually a clear occurrence if a payment for an item or service has been made and that item or service has not been delivered as described at the point of sale. The card companies are in a unique position to be able to fund this insurance because they charge suppliers for using their services, which would not be the case if payment was made using cash or by cheque for example.

The first port of call for a consumer with a problem should be the supplier themselves. In most cases complaints are resolved quickly but if a dispute arises such that the consumer is still not satisfied then they should gather evidence to prove the value of the loss incurred and present this to their credit card company for consideration.

As with any claim, companies often respond initially with a downbeat or negative reply. Sometimes that is enough to put some people off from following up their claim and card companies can escape many payouts by taking this approach. But consumers are advised not to take this kind of response personally and just to see it as a standard letter that card companies must issue to avoid accepting any responsibility before they have had chance to investigate claims thoroughly. It has been reported that sometimes consumers are told that they must initially get a court order against the supplier but that is not the case. The consumer can choose to claim either against the credit card company, the supplier or both.

Buyers should also be aware that the protection under section 75 of the Consumer Credit Act only applies to credit cards and not debit cards or charge cards such as American Express and Diners Club.

One area of complication that consumers should be wary of is the case where the company accepting the card payment is not the company providing the goods or service. In this situation claims can often become complicated and can fail.Michael Lennan writes about credit cards for a number of websites that cover the subject. Read more about standard credit cards and different charity credit cards here.]]> How Consumer Reports Can Help You http://www.artwoo.com/article/how-consumer-reports-can-help-you http://www.artwoo.com/article/how-consumer-reports-can-help-you#comments Wed, 26 Sep 2007 03:20:01 +0000 consumer reportconsumer reportssatisfied with your purchasefuel efficiencyfellow customersquality consumervaluable tool http://www.artwoo.com/article/how-consumer-reports-can-help-you satisfied with your purchase, or you are not. It would be easier if you could predict what the outcome would be before you decide to buy the item in question. And while you cannot see the future, a that you can use is the .

are documents authored by actual consumers or by independent outside parties. The foundation of the consumer report is that they are honest and impartial, so that the consumer report that you read gives you an accurate review of the product in question. For example, let's say that you are interested in buying a car. By reading a variety of reports, you can get an honest feel for whether or not the vehicle that you want to buy is right for you. Consumer reports for cars can compare and review all aspects of a car, from to safety. So, if there's a particular aspect of a car that interests you, you will be able to research it via the consumer report.

Another reason why consumer reports can help you is because they can be written either by independent experts or by people such as yourself. A consumer generated consumer report is helpful because it is written by someone like you, for someone like you. You will easily be able to understand and appreciate the pros and cons that are listed in a consumer report that was written by . A consumer report that's been written by an independent expert will feature detailed information and expert analysis on general and specific product information.

If possible, you should always read as many consumer reports as you possibly can. The more information you are able to gather, the better informed you will be. A combination of consumer reports written by independent authorities and regular purchasers should give you an accurate review of the product your interested in. Consumer reports are like your secret weapon in determining products to purchase, and products to avoid. Pat Flouster knows consumer reports http://www.consumer-reports.ca and their importance. Read a free consumer report today and get the info you need. Consumer report, a valuable resource to use. ]]> Finding That Elusive Cheap Loan Protection Insurance http://www.artwoo.com/article/finding-that-elusive-cheap-loan-protection-insurance http://www.artwoo.com/article/finding-that-elusive-cheap-loan-protection-insurance#comments Thu, 20 Dec 2007 05:25:07 +0000 loan protection insuranceloan repaymentsstreet lenderspart time employmentretirement agecitizens advicecheap loans http://www.artwoo.com/article/finding-that-elusive-cheap-loan-protection-insurance loan protection insurance can be found but you have to go online with an independent standalone provider of the cover rather than take it out at the same time as taking out borrowing. Very often loan protection is pushed by high alongside their so-called "cheap" loans for huge profits which earns them a staggering =A34 billion in profits a year. When sold this way very little information is often given out regarding the exclusions which has meant consumers have bought cover they could not claim against.

Loan protection insurance is taken out to insure against the possibility that sometime in the future you might come out of work due to suffering from an accident, sickness or through unemployment. If this is the case and you have large to make each month you could seriously be left struggling to find the money.

Providing you have read the terms and conditions of the policy, the cover would give you a tax free income after being out of work for a period of time. This period differs from provider to provider but can be between the 30th and 90th day. Cover would then last between 12 and 24 months which is usually more than enough time for you to get back on your feet and back to work.

All cheap loan protection insurance policies will have exclusions within them which means you might not be eligible to make a claim. There are some which are common to all policies and others are defined by the provider. Common exclusions include being in , suffering an ongoing illness, being of or if you are self-employed.

It is essential that you do check the terms and conditions because this is where you not only find the exclusions which can help you to determine if the cover is suitable but also the terms and conditions of the cover. Mis-selling of loan protection was highlighted in 2005 when the made a super complaint to the Office of Fair Trading (OFT). Following this the Financial Services Authority began an investigation which is still ongoing along with the OFT referring the sector to the Competition Commission.

While there has been some improvement in the sales practices, clearly many more changes for the better need to be made in the future. In March 2008 there will be the introduction of comparison table which it is hoped will make payment protection products more transparent. The table will ask a series of questions and from the answers consumers will be able to tell which of the payment protection products is most suited to their circumstances. Along with this they will highlight the exclusions which will make it easier for the consumer to see if they are eligible to claim and will tell the consumer how much the cover will cost.

Cheap loan protection insurance is hard to find with the high street lender but a specialist in payment protection will offer among the cheapest premiums for what could be a lifeline if you were to lose your income. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Loan Protection Can Work If You Take The Time To Understand A Policy http://www.artwoo.com/article/loan-protection-can-work-if-you-take-the-time-to-understand-a-policy http://www.artwoo.com/article/loan-protection-can-work-if-you-take-the-time-to-understand-a-policy#comments Thu, 08 Nov 2007 03:35:01 +0000 loan protectionpeace of mindpayment protection insuranceasu insuranceoffice of fair tradingsufferingrealise http://www.artwoo.com/article/loan-protection-can-work-if-you-take-the-time-to-understand-a-policy Loan protection, or as it is also known, can be taken out by those who have monthly loan repayments to make and who are in full time employment and worry that they might find themselves out of work due to from an accident, prolonged sickness or through such as unemployment.

Providing you have made sure that loan protection would be suitable for your needs then it would begin to payout after a pre-defined period of time of the policyholder being out of work continually which can be between 31 days and up to 90 days with some providers.

The majority of policies are backdated to day one and would then continue to give you a tax free income for up to 12 months and with some loan protection policies, for up to 24 months. You do have to make sure that a policy would be suitable for your circumstances as the cover isn't suitable for everyone but providing that it is then it could give you and help to keep you debt free. Some of the most common exclusions include only being in part time work, retired or suffering from an illness at the time of taking out the policy.

Loan protection has in the past caused confusion and while some changes for the better have risen, many more changes still need making. The majority of policies that are sold alongside the loan from the high street lender have been sold without the consumer being fully aware of what they are buying and don't a policy has exclusions within it or the total cost of the cover when added onto the loan.

In 2005 the Financial Services Authority began investigating the sector after a super complaint was made to the (OFT)_. Following this they handed out fines to several high street names before the OFT's referral of the sector to the Competition Commission. They are reviewing the loan protection and industry and are expected to reach their conclusion in February 2009.

If you want the protection and peace of mind that loan protection can bring then make sure you understand the product and what it is capable of doing and stick with standalone providers of loan protection and payment protection insurance for the cover. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Loan Protection Insurance Still Being Sold Incorrectly http://www.artwoo.com/article/loan-protection-insurance-still-being-sold-incorrectly http://www.artwoo.com/article/loan-protection-insurance-still-being-sold-incorrectly#comments Fri, 23 Nov 2007 08:15:02 +0000 loan protection insurancefinancial services authoritynote that thereoffice of fair tradingt claimcitizens advicetypical reasons http://www.artwoo.com/article/loan-protection-insurance-still-being-sold-incorrectly Loan protection insurance came under fire in 2005 when the began an investigation into the sector following a super complaint made to the by the . It was revealed that many changes needed to be made to the way the product was sold and although some positive changes have been made a recent review by the Financial Services Authority has revealed that firms are still not making the product easy for the consumer to understand and is still being sold incorrectly.

Loan protection insurance can give you a tax free income each month if you become out of and unable to work due to suffering from an accident, long term sickness or through unemployment such as redundancy. After you had been out of work for a set period of time which can be anywhere between one to three months' after the event, the insurance would provide you a tax free income for up to 12 months and with some policies for up to 24 months.

Do can be exclusions which could mean that the product isn't suitable for all circumstances so it is essential that these are pointed out at the time of buying. Some include being of retirement age, self-employed, only in part time work or if you have an ongoing illness at the time of taking out the policy.



One of the many problems associated with the mis-selling of loan protection insurance and which led to several firms receiving fines from the Financial Services Authority early 2007 for was not making the product clear at the time of selling, poor selling techniques led to the product being mis-sold and people holding policies they couldn' against. The majority of policies are bought alongside the loan at the time the loan is taken out with the high street lender but buying the cover this way can add hundreds more onto the cost than it needs too. Loan protection insurance can be bought independently of the loan and this is the best way to make huge savings on the premiums for what could be essential cover and give great peace of mind.

The standalone specialist provider of loan protection insurance will always make sure that the consumer has access to the vital information and key facts that is needed to be able to make an informed decision regarding the products suitability. One of the biggest changes for the better is to come in March 2008 with the introduction of comparison charts, comparison charts will make purchasing the correct product easier for consumers as they will answer a series of questions which will then lead the to the correct payment protection product. Along with this the charts will show how much in total the cover will cost, point out the exclusions within them and help the consumer to get the best deal.

It is important to remember that it isn't the product itself that is to blame for the problems surrounding payment protection but those who have poor selling techniques such as the high street lenders. A standalone specialist will know their products inside out and as such be able to give you the essential advice needed for you to make the right choice regarding the suitability of loan protection insurance. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Around Half Of The 20 Million Loan Insurance And Mortgage Insurance Policies In The UK Could Have Been Mis-sold http://www.artwoo.com/article/around-half-of-the-20-million-loan-insurance-and-mortgage-insurance-policies-in-the-uk-could-have-been-mis-sold http://www.artwoo.com/article/around-half-of-the-20-million-loan-insurance-and-mortgage-insurance-policies-in-the-uk-could-have-been-mis-sold#comments Fri, 04 Jan 2008 00:20:02 +0000 payment protection insuranceloan payment protectionfinancial lifelinestreet lendersloan insurancemortgage insuranceloan protection http://www.artwoo.com/article/around-half-of-the-20-million-loan-insurance-and-mortgage-insurance-policies-in-the-uk-could-have-been-mis-sold loan insurance and policies in the UK and it is thought that around half of these could have been mis-sold. The mis-selling scandal came to the public's attention in 2005 when it both the Office of Fair Trading and the Financial Services Authority started investigations in to the sector. Fines were subsequently handed out to several well known high and providers of (PPI).

The majority of those who received fines were high street lenders who were pushing the cover alongside a loan or credit card while giving out very little information regarding the exclusions. This meant the consumer was buying a product they did not understand.

However, it is important to realize that it is the poor selling techniques and lack of knowledge those selling insurance that have caused the problems with loan cover and not the actual policy itself. When bought correctly with the exclusions in mind can work the way it is designed to do and can give a to those with a lost income.

The Financial Services Authority set out guidelines and recommendations for providers to follow which it was hoped would put an end to the mis-selling. While some have followed these guidelines, the Financial Services Authority (FSA) announced that they have investigated over 4,000 cases of mis-selling in 2007 which was double the amount of the year previous. This clearly means that much more has to be done if faith in the products is to be restored.

Providing a policy is suitable for your circumstances then the cover would begin to payout once you had been out of work for a pre-determined amount of time which is usually between 31 and 90 days. Once the policy has begun to payout then it would continue to do so for between 12 and 24 months again depending on the provider. Loan insurance can be a very valuable lifeline to have because getting behind on the repayments means at the very least earning yourself a bad credit rating which can take years to remedy.

You do need to look out for the exclusions within the cover. Some of the most common exclusions include working part time employment, suffering an illness which is ongoing or if you are of retirement age. There can be others depending on the provider so it is essential that you do read the key facts of the policy before you buy it.

One of the changes in the pipeline when it comes to the way that all payment protection insurance policies are sold is the introduction of comparison tables by the FSA. The tables will highlight the exclusions in a policy and will also tell the consumer how much the cover would cost. To help the consumer choose between which type of payment protection insurance would be most suitable for their needs there will be a serious of questions which will lead to the correct solution and the individual getting the cover which best suits their circumstances. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Uk Mortgage Insurance Is Worthwhile Taking Out http://www.artwoo.com/article/uk-mortgage-insurance-is-worthwhile-taking-out http://www.artwoo.com/article/uk-mortgage-insurance-is-worthwhile-taking-out#comments Mon, 24 Dec 2007 05:15:01 +0000 mortgage insurance policystreet lenderspart time workcompetition commissionmortgage protectionuk mortgageprotection policies http://www.artwoo.com/article/uk-mortgage-insurance-is-worthwhile-taking-out UK mortgage insurance is worthwhile taking out to guard against the possibility that you might find yourself out of work sometime in the future should you have an accident, suffer illness or become involuntarily unemployed. However the cover is not suitable for all circumstances due to the exclusions within the policy.

While the exclusions can differ and you should compare them along with the quotes, there are some common ones. Being retired, self-employed, suffering an ongoing illness or only being in could mean that you would be ineligible to make a claim against the UK . It is the exclusions which were behind the majority of mis-selling when in 2005 the Financial Services Authority began investigating the sector. As a result several well known names on the high street were given fines and then the sector was referred to the by the Office of Fair Trading.



While changes for the better have been made, the Competition Commission announced in late 2007 that high are still charging high premiums for UK mortgage insurance and loan payment insurance, and raking in up to 80% in profits. Along with this one of the latest firms to receive a fine was a mortgage lender. Not only did the company receive a fine but the Financial Services Authority handed out a personal fine to the Chief Executive. The Financial Services Authority say they will continue to crack down on firms who are mis-selling and loan protection so more Chief Executives should be prepared to put their hands in their pockets.

One of the biggest changes that will go towards making payment protection more transparent for the consumer is the introduction of comparison tables in March 2008; a series of questions will help lead the consumer to choose the right protection policy. Along with this they will highlight the exclusions which can be found in all payment and make the consumer aware of how much the cover will cost in total. All of these have caused severe problems in the payment protection sector with very little advice being given on policies and what is given being filled with technical jargon which the consumer does not understand.

Buying UK mortgage insurance from an independent specialist provider will get you the cheapest premiums and the best advice and access to the key facts. The advice comes in easy to understand plain English, cover can begin to payout from between the 31st and 90th day depending on the provider and would then continue for between 12 and 24 months again depending on providers so you must read the terms and conditions.

UK mortgage insurance may be surrounded by controversy but providing it is suitable for your circumstances it can make the difference between losing the roof over your head and keeping it and of course it gives you peace of mind so you are able to recover from illness or find another job if you are made redundant. The State cannot be relied upon to give you the money needed each month to meet your mortgage repayments which has left many facing repossession through not having a back-up plan. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Loan Payment Protection Can Be A Valuable Asset http://www.artwoo.com/article/loan-payment-protection-can-be-a-valuable-asset http://www.artwoo.com/article/loan-payment-protection-can-be-a-valuable-asset#comments Sun, 30 Mar 2008 13:29:59 +0000 loan protection insuranceloan payment protectionpayment protection insuranceloan repaymentsstreet lendersloan commitmentspolicy loan http://www.artwoo.com/article/loan-payment-protection-can-be-a-valuable-asset loan repayments to make each month then it could be wise to take out to cover the possibility that you might find yourself unable to work. If you should have an accident, suffer an illness or become unemployed through such as redundancy then a policy would provide a monthly tax free sum to cover your monthly .

can work but you have to ensure that you check the terms and conditions of a policy before rushing into taking it out. There are exclusions which are to be found in all loan cover and there are also ones that can be added by particular providers. Those individuals who are working on a part time basis, who are self-employed, suffer a pre-existing medical condition or who are retired would probably find a policy not suitable. Reading the wording of any policy is essential as the terms and conditions can vary as can the amount you pay for the cover.

The premiums charged will be based on how old you are at the time of applying and the amount of your loan repayments. Historically, a standalone provider will always offer cheaper loan protection insurance than the high street lender.

Consumers should note that while cover is usually offered at the time of borrowing this can be very costly. High are thought to make around =A34 billion in profits when selling cover. However this is not quite clear and the Competition Commission are going to do everything in their power to force lenders to open their books and reveal their profits.

In 2005 several high street names received fines when the Office of Fair Trading received a super complaint from the Citizens Advice. Fines were handed out for mis-selling which focused on the poor advice given to the consumer at the time of taking out a policy. Loan payment protection was sold to individuals who could not possibly hope to claim against the cover.

In March 2008 it is hoped that the introduction of comparison tables will lead to making loan insurance more transparent. The tables will highlight how much a policy will cost, show the exclusions and help the consumer to choose the right type of cover. Until then an independent provider can be relied upon to provide the answers to any questions you might have regarding the cover. They provide FAQs and of course give the essential information needed for the consumer to make an informed decision regarding the suitability of a policy.

When taken out with your circumstances in mind loan payment protection insurance can provide you with a tax free income with which to continue meeting the repayments for your loan each month. Once you had been unable to work for a period of between 30 and 90 days the policy would start and the majority are backdated to day one. Cover would then continue providing peace of mind and security for between 12 and 24 months dependent on the terms of the provider. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Is Loan Protection Nothing But A Rip-off? http://www.artwoo.com/article/is-loan-protection-nothing-but-a-rip-off http://www.artwoo.com/article/is-loan-protection-nothing-but-a-rip-off#comments Sat, 08 Dec 2007 23:35:00 +0000 ppi productspayment protection insuranceloan payment protectiont claimretirement agepart time workindependent specialist http://www.artwoo.com/article/is-loan-protection-nothing-but-a-rip-off payment protection insurance (PPI) products. Many consumers were not being told how much the cover would cost in total, weren't given any information about the exclusions which are in all policies and were being charged high premiums for inadequate cover or cover they couldn' against.

When bought incorrectly, the cover can indeed be nothing more than an expensive waste of money particularly if it is taken out alongside the loan with the lender at the time of securing the loan. However, going with an can save you hundreds of pounds.

can when taken out with your circumstances in mind begin to give you an income which is tax free from between the 31st day and the 90th that you are out of work if you have suffered from an accident, an illness or if you have been made unemployed. It would then continue to give you security for between 12 and 24 months depending on the policy. The terms and conditions are always set out in the key facts along with the exclusions which can vary but there are some that are the same in all policies such as if you are in only in , if you are self-employed, suffering from a pre-existing medical condition or of .

The biggest problems associated with the payment protection sector has been a lack of knowledge regarding the products at the time of taking out the policy with very little if any information being given by the lender as to how much the total amount of cover will cost, the exclusions in a policy and that the consumer has the option of shopping around for the cover to get the cheapest premiums. The majority of loan cover bought is sold alongside the loan at the time of taking it out and it is these firms that received fines from the Financial Services Authority during the investigation. The problem with buying loan protection from the high street lender is that they have little experience in the product and selling it as opposed to the standalone specialist in payment protection who know the product inside out and pass their expertise onto the consumer.

The exclusions should be made clear at the time of buying the policy and presented in an easy to understand format instead of the technical jargon that is associated with policies. Fortunately the majority of standalone specialists will give you access to the information needed because they don't put the huge profits that the high street lender puts ahead of what's in the consumers best interest. Always make good use of the expertise that the specialist can provide so that you will not be let down in your time of need but instead have the security that loan protection should give. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Automotive Consumer Reports http://www.artwoo.com/article/automotive-consumer-reports http://www.artwoo.com/article/automotive-consumer-reports#comments Thu, 27 Sep 2007 04:15:02 +0000 consumer reportsconsumer reportbest betgas mileagecomprehendinformation gatheringpros and cons http://www.artwoo.com/article/automotive-consumer-reports information gathering procedures can help you make an informed decision on the car you wish to buy. You want to do everything possible to prevent yourself from spending your hard-earned dollars on a lemon of an automobile. Because of your diligence to knowledge, there are many routes available for you to choose to get the information you need. You can ask people about the car in question, for example. However, most people, when they are looking for a car to buy, use s to get the information they need.

Consumer reports are valuable sources of automotive purchasing information. A detailed consumer report can give you honest and accurate reviews on such important vehicular information such as , braking ability, steering control and traction. Unless you are an automotive expert, or have the capacity to test out a wide range of vehicles that you are interested in buying, the consumer report is your to get the unfiltered and precise information that you need to have.

Another reason why consumer reports are helpful is because they are often written by trusted third party sources. In some cases, consumer reports are actually created by people who have purchased and driven the car in question. This is of prime benefit because it gives you your own personal perspective on the car and its attributes. A customer generated consumer report is written by someone like yourself, so that someone like yourself can easily read, follow and it. Layman information is of absolute importance when it comes to reading an automotive consumer report.

Some consumer reports are written by automotive or vehicular experts. These are people who understand detailed aspects of the car that you're interested in. They are able to break down the of the car in great length and present the information in an easy to read consumer report. Pat Flouster reviews automotive consumer reports. Find a free consumer report on your car today! Read a http://www.consumer-reports.ca before you buy your car. ]]> Income Protection Insurance Could Give You A Replacement Income http://www.artwoo.com/article/income-protection-insurance-could-give-you-a-replacement-income http://www.artwoo.com/article/income-protection-insurance-could-give-you-a-replacement-income#comments Sat, 12 Jan 2008 17:20:00 +0000 income protection insurancecitizens advicecontinuous periodcompetition commissionoutgoingsinsurance policieswatchful eye http://www.artwoo.com/article/income-protection-insurance-could-give-you-a-replacement-income Income protection insurance could give you a replacement income with which to continue repaying your essential and give you security.

The majority of income protection would begin to pay out once you had been off work for a which can be anywhere between 31 and 90 days after the event and depending on the provider. The amount of time that a policy will pay can also vary but it is usually somewhere between 12 and 24 months, again dependant on the provider.

Buying cover from a standalone provider is the best way to secure yourself the cheapest premiums for the cover and the cost can vary tremendously. It is essential to check the small print or key facts of the policy before you buy because this is what will allow you to decide if income protection insurance is right for your circumstances.

While providers can add in exclusions there are some that are typcail to most policies. If you are in self-employment, retired, only working part time or suffering a pre-existing medical condition then a policy would not be in your best interests. By shopping with a specialist for the cover you will be given access to the key facts and exclusions which makes determining if you would be eligible easier.

In the past income protection insurance has and in fact still does give cause for concern. This came about after the made a super complaint to the Office of Fair Trading. Following this an investigation by the Financial Services Authority (FSA) began which resulted in several high street names being given fines. The began a review of the sector which is still ongoing and the FSA continue to keep the sector under their .

Recently the FSA announced that while some changes have been made to the way that cover is sold, many firms are still not following guidelines properly. Just recently a mortgage firm was fined and not only was the company fined but also the Chief Executive, who was handed a personal fine. Clearly many more changes still need to be made to make the products more transparent to the consumer and it is hoped this will be seen in March 2008. Comparison tables will appear which should make choosing such as income protection insurance easier. The tables will ask a series of questions which will lead to the consumer being able to tell which product would be in their best interest and also tell the about exclusions and how much the cover will cost.

For now the safest option you can take when it comes to buying income protection insurance is to stick with a standalone specialist for your cover and be sure that your policy will come with the key facts needed and is backed up by experience in selling protection cover of quality. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Banks Making Huge Profits From Payment Protection http://www.artwoo.com/article/banks-making-huge-profits-from-payment-protection http://www.artwoo.com/article/banks-making-huge-profits-from-payment-protection#comments Sat, 22 Dec 2007 01:20:01 +0000 payment protection insurancepart time employmentinsurance sectortypical reasonscompetition commissionspecialist providerindependent specialist http://www.artwoo.com/article/banks-making-huge-profits-from-payment-protection Competition Commission has been conducting an in-depth review of the sector after a referral from the Office of Fair Trading, and following on from the Financial Services Authority who began investigation in 2005. There have been many problems within the sector including high premiums being charged for the cover and just recently the Competition Commission announced that banks are raking in 80% of the premiums that they charge for payment protection in profits.

As a result of this the Competition Commission are exercising their legal rights by forcing the sector to reveal the profits made from the cover. With consumers paying out over =A34 billion for payment protection cover last year alone banks are reluctant to reveal how much of this is profit.

Payment protection is sold alongside borrowing such as loans and credit cards when consumers take out the borrowing. It has even been known to have been included in with the cost of the loan without the consumer being aware. Not only is the cover very expensive when taken out this way but very little information is given regarding the key facts and exclusions which exist in all payment protection insurance policies.

Some which could stop a person from claiming on a policy include being retired, self-employed, suffering an illness which is pre-existing or if you only work in . While these are the most common there can be others set out by providers so reading the small print is essential.

Taking your payment protection alongside your loan or credit card with the high street lender means you will be paying up to five times more for the cover than if you have gone with an independent . 50% to 80% commission rates looked at by the Commission were found to be typical on the selling of payment protection with the high street lender, and 40% to 65% when it came to selling mortgage protection. While some changes for the better have been seen since the Financial Services Authority handed out fines with the latest being a mortgage firm, much more needs to be done when it comes to the way the high street lender "rips-off" the consumer.

When taken with an provider, payment protection insurance can give you an income once you have been out of work for a certain period of time due to an accident, sickness or unemployment. The waiting period can be anywhere between 31 and 90 days dependant on the provider and can last between 12 and 24 months. The income you get each month is tax free and can stop you from getting behind on your credit card or loan repayments.

An independent specialist will not only be able to save you money on your payment protection but also make sure that you have access to the key facts and exclusions in a policy which could mean you would be ineligible to make a claim. A lack of this information is what led to the investigation and the mis-selling scandal in the first instance. Hopefully changes will be made for the better in the future and payment insurance will become affordable to all individuals but for now buying the cover from a specialist is the best option. Simon Burgess is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income payment protection insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]>