loan protection insurance http://www.artwoo.com Returned search results for loan protection insurance Copyright 2008 Tue, 02 Dec 2008 16:37:09 +0000 http://www.artwoo.com/rss/loan+protection+insurance Loan Protection Insurance Can Help To Keep You Debt Free If You Should Lose Your Income http://www.artwoo.com/article/loan-protection-insurance-can-help-to-keep-you-debt-free-if-you-should-lose-your-income http://www.artwoo.com/article/loan-protection-insurance-can-help-to-keep-you-debt-free-if-you-should-lose-your-income#comments Fri, 14 Dec 2007 22:20:05 +0000 loan protection insurancemortgage payment protection insurancepayment protection insurancemortgage payment protectionloan payment protectionsimon burgessloan repayments http://www.artwoo.com/article/loan-protection-insurance-can-help-to-keep-you-debt-free-if-you-should-lose-your-income loan repayments to make each month and worry how you would continue to repay them if you should suddenly lose your income through having time off work due to accident, sickness or becoming unemployed, then is the solution.

A loan protection insurance policy would give you an income with which you could continue to meet your loan repayments each month after you had been out of work for a certain length of time. The waiting period for claiming depends on the provider and this can be from the 31st day of being out of work right up to the 90th day and the majority of policies are then backdated to day one. Once the policy has started then it would continue to give you a tax free income for up to 12 months and with some providers for up to 24 months.

All loan protection insurance policies do have reasons which can stop you from claiming against them and some of the usual include if you are suffering from an illness or have been within the last 2 years, if you are retired or if you only work in part time employment. It is essential that you do check the exclusions in any loan protection insurance policy you are interested in as exclusions can vary slightly from provider to provider.

Loan can help to stop you from getting into debt and the best way to purchase the cover is with a standalone provider who can not only offer you some of the cheapest premiums for the cover but also the advice that you need to be able to make an informed decision regarding the suitability of loan protection insurance for your circumstances before you buy the product. If you are in doubt over the policy's suitability then always be sure to take advantage of the specialist's expertise and ask questions. 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 insurance. ]]> Cheap Loan Protection Insurance Could Help Stop You From Getting Into Debt http://www.artwoo.com/article/cheap-loan-protection-insurance-could-help-stop-you-from-getting-into-debt http://www.artwoo.com/article/cheap-loan-protection-insurance-could-help-stop-you-from-getting-into-debt#comments Thu, 24 Jan 2008 03:25:01 +0000 loan protection insurancepayment protection insuranceloan payment protectionsimon burgessloan repaymentsinsurance premiumsgreat peace http://www.artwoo.com/article/cheap-loan-protection-insurance-could-help-stop-you-from-getting-into-debt loan protection insurance could help stop you from getting into debt providing that you understand the product and the exclusions that exist in all policies of this nature. The cover can be an expensive addition to a loan but it can also give of mind when purchased correctly and you can get loan protection insurance cheaply if you choose to buy it independently by shopping around.

Loan is also sold under the name of ASU insurance and can give you a tax free income each month with which to continue paying your monthly if you should come out of work after suffering an accident, sickness or due to unemployment of no fault of your own. The cover would begin to payout after you had been out of work for a set period of time which can be from the 31st day with some providers but as long as the 90th with others and once the cover has started it would then give you a tax free income each month you were out of work for up to 12 months and with some insurers up to 24 months.

Cheap loan protection insurance can be a valuable lifeline as even if you qualify for help from the State, the help you get might not be enough to allow you to continue paying your essential outgoings such as loan or credit card repayments. While it can give peace of mind and security it isn't suitable for all circumstances and the exclusions in the policies small print determine if it would be suitable for yours. Some common exclusions which can be found in all policies include only working part time, being retired, self-employed or having a pre-existing medical condition.

It is essential that you get your quotes from specialists in payment protection not only to get cheap loan protection but also to benefit from the experience that a specialist can give so that you can be sure a policy is suited to your needs. 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 insurance. ]]> Loan Protection Insurance - A Necessity Or A Rip-off? http://www.artwoo.com/article/loan-protection-insurance-a-necessity-or-a-rip-off http://www.artwoo.com/article/loan-protection-insurance-a-necessity-or-a-rip-off#comments Thu, 19 Jul 2007 01:21:14 +0000 loan protection insuranceincome payment protectionstreet lenderssimon burgessbankscoerceloan repayments http://www.artwoo.com/article/loan-protection-insurance-a-necessity-or-a-rip-off loan protection insurance industry then you could be left asking yourself "is loan protection insurance a necessity or is it nothing but a big rip-off?"

There have been widespread investigations into the payment protection sector with complaints of mis-selling of the cover and price inflated premiums. While this is true, it is some of the major companies selling the product that are at fault not the actual policies themselves. The biggest problem is with the high and . While they might be fully trained to offer loans and credit cards and can you a great deal on these, when it comes to selling the protection for them, in a lot of cases, they tend to tell you very little and you in to buying their cover without fully explaining it. For this reason - and for greed - many consumers have found they weren't able to claim on a policy due to the hidden exclusions within the policy.

Loan protection can be considered a necessity if you consider the fact of how you would continue to make your monthly if you should come out of work due to an accident, unemployment or sickness. Without the policy you could be struggling and indeed get behind on your repayments, whereas if you have the cover then after you have been out for work for a specified period of time the cover will give you an income to ensure you can continue with the repayments.

The answer to the question is really all about where you choose to take the cover from. If you take it from the high street lenders and banks without first investigating other options, then yes you could be ripped-off. However, if you buy it the sensible way by researching the marketplace first and going with an independent provider, then it should be classed as a necessity. is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost insurance (PPI), mortgage payment protection insurance (MPPI) and loan payment protection insurance. ]]> Protect Against The Unknown With Unemployment Insurance http://www.artwoo.com/article/protect-against-the-unknown-with-unemployment-insurance http://www.artwoo.com/article/protect-against-the-unknown-with-unemployment-insurance#comments Mon, 29 Oct 2007 02:30:00 +0000 mortgage payment protectionpayment protection insuranceloan payment protectionunemployment insuranceincome protection insurancemortgage repaymentsloan repayments http://www.artwoo.com/article/protect-against-the-unknown-with-unemployment-insurance unemployment insurance can be a great asset to have in case you should find yourself without an income due to coming out of work through accident, sickness or unemployment.

Unemployment insurance consists of policies that will give you an income so that you can carry on paying your essential outgoings such as your mortgage, and day to day living expenses. The family of policies consist of , and . All unemployment insurance policies have exclusions in them which could mean that they wouldn't be suitable for your circumstances and these are found within the small print. The most usual exclusions which would prevent you from claiming are if you are retired, self-employed, suffer from an illness at the time of applying for the policy or if you are only in part time employment.

The cost of unemployment insurance premiums does vary but if you go with a specialist in payment protection insurance then you will get the premiums much cheaper along with the key facts and information you need to make sure that the product is right for your circumstances.

If you want to protect your then mortgage payment protection could give you an income after you have been out of work for a pre-defined period of time which can vary between 31 days and 90 days of being out of work continually. The cover would then continue to provide you with a tax free income for up to 12 months and with some providers for up to 24 months which means you have peace of mind and security while you recover and get back to work.

If you want to carry on paying your loan repayments then loan payment protection gives the same income to pay your loan repayments and make sure you don't get into debt and income protection will give you the money to carry on paying your essential outgoings.

Unemployment insurance can be a lifeline and it can work if you ensure that you would be eligible to claim. 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. ]]> 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. ]]> Are You Paying Too Much For Your Loan Insurance? http://www.artwoo.com/article/are-you-paying-too-much-for-your-loan-insurance http://www.artwoo.com/article/are-you-paying-too-much-for-your-loan-insurance#comments Mon, 04 Sep 2006 16:27:07 +0000 loan insuranceinvoluntary unemploymentpayment protection insurancepeace of mindaddpriceloan payments http://www.artwoo.com/article/are-you-paying-too-much-for-your-loan-insurance loan insurance to protect your payments should you be unable to keep up with them due to illness or unemployment. However, many of the loan insurance policies on offer cover you for very little and are extremely expensive. If you want to find out what you should be paying for loan insurance and what to avoid then this article can help you to decide.

What is loan insurance?

Loan insurance is often known as or PPI. This type of insurance covers you if you cannot make your because of an accident, illness or .

How much does it cost?

The of loan insurance can vary greatly, but is usually ed as an extra to your payments each month. Although the payment figure might look small, if you add it to the total loan amount and then add interest the number can seem much more.

Hidden costs

Although a loan might seem cheap, when payment protection is added the loan price can increase significantly. For instance, the amount you pay back on a £5000 loan over 5 years can increase by over £1,500 when loan insurance is added. Often, loan insurance is added without you knowing about it, which means you are paying for something you didn't even ask for.

The benefits

Despite its high cost, there are some benefits to loan insurance. It can give you the that if something should happen to you then your payments are covered for up to a year. This means that you won't be in financial difficulty or risk default if you are ill or injured. If this sort of security is important to you then loan insurance is probably a good idea.

Lack of cover

Although it can give you peace of mind that you will be covered, loan insurance has extremely limited coverage. For example, if you are self employed it is unlikely that the unemployment clauses will cover you unless your business has ceased trading. Before getting any loan insurance you should check that you are covered for the things that are important to you, otherwise the policy is not worthwhile.

Alternatives

There are some alternatives to loan insurance that are usually cheaper. Firstly, you can usually get the same sort of loan insurance cover independently from your loan provider. The price of this insurance is usually much lower than the price offered by your insurance company. Also, some of the clauses of the loan insurance may already be covered under other insurance policies that you have. Loan insurance can be worthwhile, but unless you are covered and can get the insurance for a good price then it is usually not worth having. However, if you shop around and know exactly what you need to be covered for, you can find insurance that will cover you in the event that you cannot keep up with your loan repayments. Peter Kenny is a writer for creditcards-gb For additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.thriftyscot.co.uk/Insurance/ ]]> UK Loan Protection Insurance Can Protect Your Repayments If You Should Come Out Of Work http://www.artwoo.com/article/uk-loan-protection-insurance-can-protect-your-repayments-if-you-should-come-out-of-work http://www.artwoo.com/article/uk-loan-protection-insurance-can-protect-your-repayments-if-you-should-come-out-of-work#comments Fri, 02 Nov 2007 19:30:01 +0000 loan protection insuranceuk loanloan repaymentsinsurance policiesoffice of fair tradingcircumstancesfinancial services authority http://www.artwoo.com/article/uk-loan-protection-insurance-can-protect-your-repayments-if-you-should-come-out-of-work loan repayments to make then you could be left with a serious struggle of where to find the money if you were to come out of work due to an accident, sickness or through unemployment such as redundancy. UK can help to protect your loan repayments if you should come out of work, but it does have to be given some very serious consideration as it isn't a suitable product for all due to the exclusions within it.

protection insurance would begin to payout once you had been out of work for a defined period of time and this can vary from provider to provider. Cover can begin to payout from the 31st day of being out of work but it can be as much as the 90th day. However the majority of UK loan protection are backdated to day one. Once the policy has kicked in it would continue to give you the money to meet your loan repayments and keep you out of debt for up to 12 months and with some providers for up to 24 months.

There are exclusions in all UK loan protection insurance policies that could mean the cover wouldn't be suitable for your circumstances and these are usually found in the small print of a policy. It is essential that you read the small print and the key facts and if you go with a standalone provider you are more than likely given access to these. Some of the most common reasons which could stop you from making a claim on your UK loan protection insurance include suffering from an illness at the time of taking out the policy, being of retirement age or only being in part time work.

UK loan protection insurance has been in the spotlight for all the wrong reasons when the began investigating the sector in 2005 following a super complaint by the Citizens Advice to the . Fines were handed out to several high street names and then the sector was referred to the Competition Commission. They are currently conducting an in-depth review of the sector which is expected to reach conclusion in February 2009.

While still being under the watchful eye of the FSA the recent investigation which has focused on mystery shopping has revealed that some UK loan protection insurance cover is still being sold without being understood and the FSA will hand out fines now to the Chief Executives of those firms found to not have the consumer's best interest at heart.

For now if you want UK loan protection insurance then stick with a standalone provider to make sure that you get the cheapest premiums and the correct advice needed to ensure that the product 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. ]]> Loan Protection Insurance a Godsend Against a Loss of Income http://www.artwoo.com/article/loan-protection-insurance-a-godsend-against-a-loss-of-income http://www.artwoo.com/article/loan-protection-insurance-a-godsend-against-a-loss-of-income#comments Wed, 10 Sep 2008 00:36:28 +0000 loan protection insurancestreet lendersobtaining creditindependent providerarrearsgodsendloan credit http://www.artwoo.com/article/loan-protection-insurance-a-godsend-against-a-loss-of-income Loan protection insurance is a if you are unable to work or suffer an illness or an accident that means you cannot work. It would also be there for you if you should become a victim of unemployment due to such as being made redundant. In any of these cases it would mean that without an income coming into the home you would not have the money to continue meeting your loan/credit card repayments. As a result you would fall into and have to come to an agreement with the lender to catch up. If you cannot then you are faced with the consequences which differ depending on the type of loan you took out and how much you owe.

If you have taken out a secured loan then of course your home is at risk of being repossessed by the lender if you cannot come to an agreement with them to catch up on the arrears. Unsecured loan arrears could result in the lender taking you to court to seek your possessions to pay off the lender. All loan arrears will mean that your credit file is affected and this can stop you from of any kind in the future as you are seen as a huge risk.

Usually when you take on a borrowing the lender will try to get you to take out loan protection insurance for the payments. However in the majority of cases this is anything but a cheap way to protect the money you are borrowing. Usually the cost of insurance will be high and in some cases the lender will add in the cost to cover the entire loan over the period you have taken it and then add on interest on top of it. This can is some cases boost up the loan by almost half again and suddenly the loan is not cheap anymore. High do this because payment protection brings in around £4 billion each year which helps them to recover what is lost by offering loans with cheap rates of interest.

You do have another option when taking out loan protection insurance and that is to take it out with a standalone payment protection provider. An will only sell payment protection products and they offer much cheaper monthly premiums. The premium will be based on the amount of the loan that you wish to cover each month and your age when applying for a policy. Age based premiums of course mean the younger you are the cheaper you will get the protection for.

Loan protection insurance would start to pay an income to the policyholder after the period of time stated in the terms of the policy. Usually providers ask you defer from making a claim until between the 30th and the 90th day of being unemployed or incapacitated. Once you have put in a claim and have begun getting an income you would then continue to receive it for either 12 monthly payments or 24 payments, at one each month and then the cover would cease.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan protection insurance.]]> Protect Your Finances Against Coming Out Of Work Due To Redundancy With Redundancy Insurance http://www.artwoo.com/article/protect-your-finances-against-coming-out-of-work-due-to-redundancy-with-redundancy-insurance http://www.artwoo.com/article/protect-your-finances-against-coming-out-of-work-due-to-redundancy-with-redundancy-insurance#comments Sun, 04 Nov 2007 03:15:01 +0000 mortgage payment protectionredundancy insurancemortgage payment protection insurancemortgage repaymentspayment protection insuranceincome protection insuranceloan payment protection http://www.artwoo.com/article/protect-your-finances-against-coming-out-of-work-due-to-redundancy-with-redundancy-insurance mortgage repayments and the cost of everyday living. If you want to insure against this possibility then you can take out in the form of , or . You can take out a policy just to protect against coming out of work through redundancy or you can take out additional protection to cover accident, sickness and unemployment together.

(MPPI) would give you an income to make sure that you could continue to repay your mortgage repayments and so make sure that you would not lose the roof over your head by getting behind on your mortgage repayments. Loan insurance would give you the money to continue meeting your loan repayments and not get into debt and income protection would ensure that you had enough money to continue with your lifestyle and pay your essential outgoings.

There is a waiting period before you can claim on all redundancy insurance policies and this will vary from provider to provider and can be anywhere between the 31st day and 90th day of being continually out of work. Some redundancy insurance policies are backdated to the first day of becoming out of work and would then continue to payout for every month you continued to be out of work for up to 12 months, though some policies offer cover for up to 24 months.

You do have to make sure that a redundancy insurance policy would be suitable for your needs as there are exclusions which can stop you from being eligible to make a claim and these include only being in part time employment, being of retirement age, suffering from a pre-existing medical condition at the time of taking out the policy.

A standalone provider is the best place to get quotes for the redundancy insurance cover. They not only offer some of the cheapest premiums but also give advice that is needed so that you can ensure a policy would be suitable for your circumstances before you buy. 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 Insurance Covers Your Repayments http://www.artwoo.com/article/loan-payment-protection-insurance-covers-your-repayments http://www.artwoo.com/article/loan-payment-protection-insurance-covers-your-repayments#comments Thu, 24 Jul 2008 19:01:21 +0000 county court judgementloan payment protectionpayment protection insuranceloan repaymentsbailiffsindependent providerinsurance policy http://www.artwoo.com/article/loan-payment-protection-insurance-covers-your-repayments loan payment protection is taken out to ensure that if you find yourself without an income due to being made redundant or if you become sick or have an accident that means you are unable to work you would still be able to pay your repayments. These payments can include your loan or credit card outgoings up to so much of your payment each month.

When taking on a loan you are usually offered protection for it. However when adding it onto the cost of the policy, the lender could then add interest on top of it. This means that you are paying interest not only on the amount you want to borrow but also on the protection for the loan. In some cases this can also double the cost of what was once a cheap loan. You will also be paying part of the £4 billion each month that payment protection brings in for the high street lender in profits.

Standalone policies taken from an will offer the cheapest premiums for your protection. In some cases the amount you are able to save will be as much as 80%. You will also be presented with advice and information which will allow you to decide if loan payment protection is suitable for your circumstances and what the protection entails. Knowing as much about the product you are considering taking on is essential if you are to get the best deal.

Loan should be considered essential as if you get behind on your you will at the least earn yourself a bad mark on your credit rating. Your credit rating is what determines how big a risk you are when it comes to repaying. If you have a bad rating due to missed repayments then it is very unlikely that you will be given any type of credit in the future. In the worst case you could see yourself having to go to court and this could lead to you gaining a . You could also see the judge sending to your home to take your possessions to sell so that the lender can get back what you owe.

It is important to check the terms and conditions of any loan payment protection insurance policy that you are considering taking out as the terms of it will differ depending on the provider. Some providers would add in very few exclusions while others can add in many and these have to be checked against your circumstances if you are to be eligible to make a claim. You also have to check for how long you would have to wait before you would be able to claim and how long the policy would payout. Providers can ask you wait for 30 days before paying out but some can put a deferment period of around 90 days. Some providers will payout on the policy for a period of 12 months while others could offer 24 monthly repayments.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan payment protection.]]> Loan Protection Insurance Maintains Your Credit Status http://www.artwoo.com/article/loan-protection-insurance-maintains-your-credit-status http://www.artwoo.com/article/loan-protection-insurance-maintains-your-credit-status#comments Tue, 29 Jul 2008 01:15:35 +0000 loan protection insuranceloan repaymentsstreet lendersprotection policiesincapacityexclusionsdebt loan http://www.artwoo.com/article/loan-protection-insurance-maintains-your-credit-status loan protection insurance can do is to help you maintain your credit status. It does this by providing you with an income each month so that you are able to pay your if you lose your income. Cover would protect against a loss of income due to unemployment, accident or sickness and would stop you from getting into debt.

Loan protection insurance is often added into the loan when you borrow, however in the majority of cases this can boost the loan up considerably. Sometimes lenders will decide how much the protection is over the entire period of the loan and then add this onto the cost of the loan before putting interest on top of it all. At the same time some high will provide inadequate information so you are unable to check if a policy is suitable for your circumstances. It is the that have caused problems in the past with payment or rather the lack of information about them.

The exclusions are what determine if you can claim on the cover so checking them against your circumstances is essential. The amount of exclusions in a policy is again dependent on the provider and some will add in more than others. All ethical standalone providers will ensure that the terms and conditions along with the exclusions are listed on their website so you have access to them. After you have done this and know that a policy is suitable you can then look into what the protection offers. Some providers will backdate the benefit to the first day of unemployment or of so look for this in the terms and conditions also.

You also need to find out when the protection would begin. Some providers will allow you to put in a claim from the 30th day while others might state that you have to wait as long as 90 days. Your policy could continue paying out for a 12 month period while other providers might offer 24 monthly payments. The cost of the policy will be determined by your age and the amount that you wish to cover. The majority of providers will quote so much for every £100 of your loan repayment you want to cover, up to a certain amount each month.

Covering your loan and credit card outgoings with loan protection insurance is one sure way of stopping you from getting into debt. If you were to lose your income your choices would be limited for where you would get the money needed to keep on top of your outgoings. You could of course turn to savings, but depending on how long you were unemployed or incapacitated these could be inadequate. You might also give some thought to applying for State benefits. However you would have to meet strict requirements and this could be another let down. Loan payment protection insurance on the other hand would be a sure thing providing you checked the terms before hand.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan protection.]]> Loan Payment Protection Insurance Still Under Investigation By The Fsa http://www.artwoo.com/article/loan-payment-protection-insurance-still-under-investigation-by-the-fsa http://www.artwoo.com/article/loan-payment-protection-insurance-still-under-investigation-by-the-fsa#comments Sun, 16 Dec 2007 20:14:57 +0000 payment protection insuranceloan payment protectioninvoluntary redundancyloan repaymentsstreet lenderspart time workcitizens advice http://www.artwoo.com/article/loan-payment-protection-insurance-still-under-investigation-by-the-fsa payment protection insurance can give you an income with which to continue meeting your monthly each month if you were to find yourself out of work due to suffering from an accident, long term sickness or unemployment by way of . While it can be a safety net the cover isn't suitable for all circumstances and if you want it to do the job it's designed to do then you have to understand the product and the exclusions within a policy.

The exclusions within insurance are what can stop you from being able to claim on a policy and determines whether the cover is suitable for your circumstances. Some of the most typical exclusions are being in , retired or having suffered from an illness within the last 2 years that is the reason for you being off work when you claim. You do have to check the key facts and small print of loan payment protection insurance policies as they can differ from provider to provider.

Once you have determined the suitability of loan payment protection insurance then it would begin to payout a tax free income once you have been out of work for a period of time stated at the onset of the policy which can be anything from 31 days to 90 days. Once the cover has kicked in then it would continue to give you an income for up to 12 months and with some providers for up to 24 months.

Loan payment protection insurance isn't without complications and it has seen problems which were highlighted in 2005 after the Office of Fair Trading received a super complaint from the and an investigation by the Financial Services Authority resulted in several high receiving fines for mis-selling policies. Currently in the hands of the Competition Commission who are conducting an in-depth inquiry into the sector which is expected to end in February 2009, the sector is still also under the eye of the FSA. The latest fines to be handed out have been personal fines to Chief Executives of firms after the latest round of investigations revealed that payment protection is still confusing to consumers, with the high street providers and banks not always making it easy to understand when selling.



For now stick with standalone providers for loan payment protection insurance to make sure you get the advice and information you need along with the cheapest premiums. 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 Cover Still Associated With Problems http://www.artwoo.com/article/loan-cover-still-associated-with-problems http://www.artwoo.com/article/loan-cover-still-associated-with-problems#comments Thu, 17 Jan 2008 04:30:01 +0000 mortgage payment protection insurancepayment protection insurancemortgage payment protectionway of mysterysimon burgessmystery shoppersloan repayments http://www.artwoo.com/article/loan-cover-still-associated-with-problems
When taken out with your circumstances in mind loan cover can give you a tax free income which would begin to payout once you had been out of work for a certain length of time which can be anywhere between the 31st day and the 90th day. The cover would then continue to provide you with an income which would allow you to continue paying your and avoid getting into debt. You would receive a payout for up to 12 months and some providers will extend this to 24 months which gives you more than enough time to get back on your feet again.

While some changes for the better have been seen since the FSA`s investigation into the loan cover and payment protection sector - fines were handed out after the latest investigation by shoppers - there is still a long way to go yet. One of the biggest problems is the lack of information given regarding the product such as the exclusions and how much the cover would cost over the lifetime of the loan. The Financial Services Authority some well known financial organisations are going to receive personal fines if they continue not to have the consumer's best interests at heart.

For now the safest way to buy loan cover is with a standalone provider of loan cover. Not only will you get some of the cheapest premiums but also the information you need to make sure that a policy is suitable for your needs. is Managing Director of the award-winning British Insurance (http://www.britishinsurance.com), a specialist provider of low cost income (PPI), insurance (MPPI) and loan payment protection insurance. ]]> Loan Insurance Explained in Simple Terms http://www.artwoo.com/article/loan-insurance-explained-in-simple-terms http://www.artwoo.com/article/loan-insurance-explained-in-simple-terms#comments Wed, 10 Sep 2008 00:29:20 +0000 independent paymentstreet lendersloan insuranceprotection specialistpolicyholderloan creditlength of time http://www.artwoo.com/article/loan-insurance-explained-in-simple-terms Loan insurance is often extremely complicated which in the past has caused many problems and consumers being sold cover they cannot possibly hope to make a claim against. A lack of information is the main problem and as long as consumers understand what they are taking on a policy can protect them. It would provide the with an income, tax-free which was the sum they insured against when they took out the cover.

Buying a policy from a specialist payment protection provider as opposed to just adding the protection in at the time of borrowing is essential. This way you will get cover far cheaper as high charge way over the odds for the protection. They have been known to work out the protection for the you take the loan over and then add this in before adding interest on top of it. This means that not only are you paying interest on the amount you are borrowing but also on the protection itself. Sometimes this means that the cost of the cheap loan can almost double.

If you get a quote for loan insurance with an then you are quoted based on age and the amount of your loan that you want to protect. This is the figure that you would receive each month to pay your commitments. All payment protection providers will allow you to protect up to a certain amount of your loan/credit card outgoing each month.

Loan insurance would payout your income after a certain length of unemployment or of being incapacitated. This is set out in the terms and conditions as is the length of time it would payout once you had made a claim against the policy. Usually providers will state either a period of 30 and up to 90 days and then you are able to put in your claim. When it comes to paying out the policy can usually be taken to receive a payment each month for 12 months or providers might offer 24 monthly payments. After this period of time the cover would simply cease. However in the majority of cases this would be more than enough to have made a recovery or to have found work again.

If you have not got loan insurance behind you then you would have to suffer the consequences of defaulting on the loan. Secured loans on your home would mean that you are at risk of having it repossessed if you cannot catch up on the arrears while maintaining the loan repayments. If you have taken out an unsecured loan then the lender could take you to court and you could earn a County Court Judgement against yourself. In all cases your credit rating would be affected and this could mean that lenders will not allow you to borrow in the future. If you are approved for a loan you might have to pay a high rate of interest. For just a small premium each month all of this can be avoided.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan insurance.]]> Choices For Buying Loan Protection Insurance http://www.artwoo.com/article/choices-for-buying-loan-protection-insurance http://www.artwoo.com/article/choices-for-buying-loan-protection-insurance#comments Tue, 29 Jul 2008 02:08:27 +0000 county court judgementloan protection insurancemortgage repaymentsuphill struggleobtaining creditbailiffsloan credit http://www.artwoo.com/article/choices-for-buying-loan-protection-insurance loan protection insurance and to know about the differences. The vast majority of policies are sold alongside the loan when taking it out, however you can also choose to buy a policy at a later date after taking the loan. By choosing to shop for a protection policy yourself you can make around 80% savings on the cost of the premiums.

Loan protection insurance is a policy that is taken out to insure against the fact that you might lose your income. A loss of income can come about due to you suffering an accident or an illness which meant you were unable to work. A policy would also include you being made unemployed through reasons not of your own such as redundancy. The cover would payout an income that was tax-free which would allow you the luxury of being able to continue meeting your loan/credit card repayments using the money you insured for when taking out the policy.

If you were to lose your income and have substantial loan or credit card repayments to make then life could become an if you wanted to remain debt free. It is important to keep out of debt as at the very least you would see your credit rating destroyed. If this happens then for sometime in the future you could have many problems of any kind and a bad credit file can take a long time to repair. In the worst cases of debt the lender could take you to court and this means that you could have a against you and have come into your home to take your possession to sell to recover what you owe. For a small premium you can guard against any of this happening by keeping up with your as though you were still working.

If you have the protection added into the cost of the loan then the lender could add interest on top of it and this could almost double the cost of the borrowing. Another downside to taking out protection this way is that often little information is given regarding exclusions and the other terms and conditions of the policy.

Taking out the protection with a standalone provider you will be given access to all the information on their website which would allow you to ensure a policy would be suitable. When choosing a policy there are many things that need taking onto account besides the exclusions, you need to know if cover would be backdated and when and for how long it would payout. All of these can differ with independent payment protection specialists.

Some providers offer a loan protection insurance policy with the conditions that you wait for the 30th day before claiming. With others it could be as long as the 90th day. Some will continue paying out for 12 months and with other providers payment could last for 24 months.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan protection insurance.]]> Playing It Safe With Uk Mortgage Payment Protection Insurance http://www.artwoo.com/article/playing-it-safe-with-uk-mortgage-payment-protection-insurance http://www.artwoo.com/article/playing-it-safe-with-uk-mortgage-payment-protection-insurance#comments Sun, 28 Oct 2007 15:30:00 +0000 mortgage payment protectionmortgage payment protection insurancepayment protection insuranceuk mortgagemortgage repaymentsmortgage industryloan payment protection http://www.artwoo.com/article/playing-it-safe-with-uk-mortgage-payment-protection-insurance mortgage payment protection insurance is one of the best things to happen to the in the last few years. However, high street banks and lenders recognised an opportunity to make a profit when they saw one, and this often clouds the general public's judgement of the product. Many dismiss UK before probing into it as far as they should to see what it ca actually do for them.

payment protection insurance is a protective policy that will pay out for up to 24 months' if an individual is sick, injured as the result of an accident or involuntarily unemployed. All three situations would result in an individual being unable to work for a period of time and thus would jeopardise the financial security of a household in the ensuing months, if not years. It would certainly mean that it would be a struggle to keep up with .

UK mortgage payment protection insurance will pay the mortgage and related bills, such as home and contents insurance, for the period of time laid out in the terms and conditions of the policy. Anybody over the age of 18 and up to the age of 64 is eligible for UK mortgage payment protection insurance as long as they work over sixteen hours a week. This ensures that the majority of main wage earners are completely covered, and it is often them paying the mortgage and related bills.

There are many advantages and benefits to having UK mortgage payment protection insurance. It is an essential product these days and is most definitely worth its weight in gold to those who need it. Even if you hope that you will never need to use it, UK mortgage payment protection insurance is worth investing in just in case. 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 insurance. ]]> Loan Cover Can Give You Peace Of Mind When Bought Correctly http://www.artwoo.com/article/loan-cover-can-give-you-peace-of-mind-when-bought-correctly http://www.artwoo.com/article/loan-cover-can-give-you-peace-of-mind-when-bought-correctly#comments Sat, 21 Jul 2007 23:29:59 +0000 targetbeen found guiltyloan payment protectionpayment protection insuranceloan repaymentsstreet lendersoffice of fair trading http://www.artwoo.com/article/loan-cover-can-give-you-peace-of-mind-when-bought-correctly loan repayments comfortably while you are working, have you considered the possibility that should you come out of work for any reason, how you would carry on servicing your monthly commitments? There is an insurance specifically designed for this, it is called loan cover or insurance, and it will pay out a monthly sum if you find yourself out of work due to long term sickness, an accident or unforeseen unemployment.

When taken out correctly the loan cover will give you and your family the peace of mind that if the unexpected should happen - and it could in a world where the phrase "a job for life" no longer exists - you would at least have an income enabling you to carry on paying your loan repayments each month. However, where you choose to take the insurance from will depend on the cost of your premium for the loan cover and also the quality of the product. The dearest loan cover premiums you will undoubtedly be quoted for are with the high and banks. But, shop around and go with an independent specialist provider, and you should pay less.

The difference between the two can be quite astonishing and the amount you could save could be in the thousands over the term of the loan, so it really is worthwhile shopping around for cover rather than accepting the cover offered by your loan provider.

The quality of the product can also differ and recently the high street lenders and banks have been the of investigations into the sector by the Financial Services Authority and the after it was found there has been wide mis-selling of payment protection. However it is mostly the big high street names that have of this and of course this is another excellent reason why you should go independently. So if you want the peace of mind that loan cover can provide then shop around for your cover =96 it's the only way to make sure you get a quality product while getting the cheapest premiums. 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. ]]> Consider Loan Payment Protection Insurance http://www.artwoo.com/article/consider-loan-payment-protection-insurance http://www.artwoo.com/article/consider-loan-payment-protection-insurance#comments Thu, 28 Aug 2008 22:29:40 +0000 payment protection insuranceloan payment protectionloan repaymentsdeferment periodprotection specialistscitizens advicelenders http://www.artwoo.com/article/consider-loan-payment-protection-insurance payment protection insurance and taken out a policy. The reason being, you would then have an income to fall back on with which to continue paying your along with your credit card repayments. The income you received would be tax-free and enough to allow you to be able to continue meeting the repayments while you look for work or concentrate on making a recovery and getting back to work again.

insurance works by you taking out the insurance for a premium. If you go with a standalone specialist who offers payment protection this is the cheapest way to get cover. However, when borrowing, the high street lender will try to get you to take out the protection in the loan. Occasionally will add in the cost of the protection over the period you take out the loan for and then add interest on top. This can boost up what was once a cheap loan considerably and in some cases has been known to almost boost up the cost by almost half again. This was high lighted in 2005 when the Office of Fair Trading received a super complaint from the . Along with high cost little information in some cases was provided which led to those who could not benefit from a policy bought cover.

Standalone providers will take your age and the amount you wish to protect and then give you a quote for the premium for loan payment protection insurance. If you take out a policy that is age based this means you are able to make the biggest savings. The amount that you insure for is the amount you would receive back if and when you had to put a claim in.

Some payment will offer a policy that runs for 12 monthly payments and then expires, others could offer 24 monthly payments before expiring. There is always a before the protection would begin. With some providers this will be 30 days and with others it could be as much as 90 days. Some providers could also backdate the policy to the first day of you becoming unemployed or of being incapacitated.

Loan payment protection insurance should be considered by all who take on borrowing whether they borrow by taking out loans or on credit cards. If you cannot manage to keep up with your repayments then at the very least you will see a decline in your credit rating. If this happens then borrowing in the future becomes very hard. All lenders will look at your credit history and missed payments means there will be a mark on your file. Lenders are reluctant to approve loans if you have defaulted on a previous loan. In the worst case scenario the lender could take you to court and you could have a County Court Judgement against you. Even worse a judge could rule that bailiffs come to your home and take your possessions to sell to repay the lender. All of this could easily be avoided by taking out a policy for a small premium each month.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan payment protection insurance.]]> Income Protection Insurance Supplies a Replacement Income http://www.artwoo.com/article/income-protection-insurance-supplies-a-replacement-income http://www.artwoo.com/article/income-protection-insurance-supplies-a-replacement-income#comments Tue, 29 Jul 2008 01:22:30 +0000 income protection insurancepayment protection insuranceretirement ageoutgoingsstreet namesexclusions12 months http://www.artwoo.com/article/income-protection-insurance-supplies-a-replacement-income income protection insurance and the other is income payment protection. Both are different despite similarities so you have to make sure that you are taking out the right one for your circumstances before going ahead and signing up for the policy.

Income protection would supply you with a replacement income if you were to suffer an illness or an accident that meant you could not work. The policy would payout a replacement so that you were able to keep up with all your essential each month. It would begin after the time stated in the terms and conditions of the policy which can be some considerable time. However it would provide you with an income once it had started to payout for anywhere up to the age of retirement if you were unable to return to work.

Income payment protection would also provide you with an income to replace your lost one but it would also payout if you should become unemployed due to such as being made redundant. It would also provide you with your income much sooner than income protection insurance would. The majority of providers state in their terms and conditions somewhere between days 30 and 90. However it would not payout until . Policies usually provide you with your income for between and 24 month, again this is set out by the individual provider.

You would have to check the terms and conditions of policies as each provider offers different terms and also different . Some providers will add in only a few exclusions while others could put in a great deal more. These have to be compared against your circumstances so that you would know whether a policy would be suitable before you take it on.

Income is often offered when you take out a loan or credit card with the high street lender. This has been a cause for concern after the 2005 investigation which revealed that several well known high had mis-sold policies to those who could not hope to claim against the policy. This included individuals who were retired or who were not in full time work. Policies are also known to be very expensive and in some cases added into the borrowing and then have interest added in on top. This of course boosts up which was once a cheap loan considerably.

Income protection insurance and loan payment protection are both valuable forms of protection in their own right, but it is essential to be able to distinguish between them. The best way of gaining the information needed and to take out the policy is with a standalone payment protection specialist. In some cases you are able to make savings of up to 80% on your loan payment protection policy with an independent payment protection specialist. Always check over the terms thoroughly before signing up for your policy and you will have something to fall back on which would allow you to be able to maintain all your repayments.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of income protection insurance.]]>