unemployment insurance http://www.artwoo.com Returned search results for unemployment insurance Copyright 2008 Sat, 22 Nov 2008 07:38:39 +0000 http://www.artwoo.com/rss/unemployment+insurance Beware Of The High Street Lender When It Comes To Buying Unemployment Insurance http://www.artwoo.com/article/beware-of-the-high-street-lender-when-it-comes-to-buying-unemployment-insurance http://www.artwoo.com/article/beware-of-the-high-street-lender-when-it-comes-to-buying-unemployment-insurance#comments Wed, 25 Jul 2007 01:30:00 +0000 unemployment insurancespecialist providerfinancial lifelinesimon burgessbritish insuranceinsurance providerinsurance policy http://www.artwoo.com/article/beware-of-the-high-street-lender-when-it-comes-to-buying-unemployment-insurance Unemployment insurance can be a great asset to have in a world where nothing is certain. While you might right now be financially comfortable now, if you have taken on a loan or credit cards and were to suddenly find yourself out of work due to sickness, unemployment or an accident for any length of time then you could be left struggling to meet the monthly repayments.

Unemployment insurance is definitely worth considering and, even better, cheap unemployment insurance is worth buying. However, good value insurance can be hard to find and especially if you consider taking the insurance from the high street banks and lenders. In fact, you should beware of the high street lender when it comes to buying unemployment insurance as a high street lender is more likely to give you a quote which is way over the odds in comparison to a standalone provider.

A standalone provider can save you money on your premium but not only this; it is the safest way to ensure that you don't buy a policy that you cannot possibly claim on. The has the expertise when it comes to insurance such as this as very often they specialise in only this type. You don't buy your food from a garage or your car from a supermarket, you go to those in the know and no one knows more about unemployment insurance than a specialist unemployment .

A good quality cheap unemployment can pay out for up to a period of 12-24 months after you come out of work for a specified amount of time and it can be a . If you are suffering an illness or are unemployed, then you don't want the added stress of worrying about when the next loan repayment is due and how you are going to pay it. Shop around for cover and go to a specialist to get the peace of mind you deserve, whilst making great savings. 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. ]]> 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. ]]> Unemployment Income Protection Insurance Tips http://www.artwoo.com/article/unemployment-income-protection-insurance-tips http://www.artwoo.com/article/unemployment-income-protection-insurance-tips#comments Thu, 31 Jul 2008 08:08:27 +0000 income protection insuranceindependent paymentprotection specialistoutgoingsmortgage paymentpeace of mindexclusions http://www.artwoo.com/article/unemployment-income-protection-insurance-tips income protection insurance is to not confuse this product with one of a similar name. Income payment protection and income protection insurance are two separate products.

Income payment protection pays in the short term and cover unemployment along with accident and sickness. Income protection insurance would just cover accident and sickness, not unemployment and it pays out over the longer term which could be up to the age of retirement. So when looking for protection for your income against unemployment then it is income payment protection that you need to buy.

Another tip that will save you a great deal of money is to buy your policy from an . High street lender usually offer policies but they charge huge premiums which boosts up the loan or mortgage considerably.

You do have to know what is included in unemployment income protection as all providers will add in . These have to be checked against your circumstances so that you know you would be eligible to claim against the policy. Once you have then you can look at when the cover would begin to provide you with an income and when it would end as this differs with providers. Usually cover would start somewhere between days 30 and 90 of unemployment and some providers backdate the policy to the first day of unemployment. You would then be able to relax and concentrate on finding work while replying on the policy for between 12 months and 24 months.

Unemployment income protection insurance is taken to ensure that you would have something to rely on if you lost your own income. The income it provided you with would be the sum that you insured when applying for the policy and it would be tax-free. You would be able to use the money to pay a wide range of that needed keeping up with each month. One of the most important of these outgoings would be your . Your policy would provide you with that you are not going to get into arrears. Getting into mortgage arrears and not being able to catch up means that the lender will repossess your home through the courts and a judge will set an eviction date.

You could also see yourself appearing in court if you cannot keep up with loan and credit card repayments. If you get behind on these then you would at the least earn yourself a bad credit rating. This could make getting any kind of credit very hard in the future as all lenders take your credit file into account. Depending on the amount you owe your lender could take you court to claim what you owe through possessions and this means a judge will send bailiffs to your home.

Unemployment income protection insurance can put a stop to all of this and much more. It would allow you to be able to continue meeting all essential bills that go out each month and which keep your home running. It would also mean that you would be able to continue living your current lifestyle and not have to make many changes.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of unemployment income protection insurance.]]> Why Consider Mortgage Unemployment Insurance? http://www.artwoo.com/article/why-consider-mortgage-unemployment-insurance http://www.artwoo.com/article/why-consider-mortgage-unemployment-insurance#comments Thu, 20 Nov 2008 00:57:29 +0000 http://www.artwoo.com/article/why-consider-mortgage-unemployment-insurance With 2008 becoming the year of the 'credit crunch' and literally hundreds of thousands of people in the UK subsequently losing their jobs to redundancy, mortgage unemployment insurance is something that anyone who has a mortgage must have least considered.

And even in times when the economy is stable, redundancy is still a very real threat, so the idea of still being able to continue maintaining your mortgage repayments, even though you have lost your income due to involuntary redundancy, is invaluable. And, quite simply, this is what mortgage unemployment insurance does.

Should you be made unemployed through no fault of your own (and this does not mean should you get fired or dismissed due to misconduct or you elect to take voluntary redundancy) then the mortgage unemployment insurance - also known as mortgage payment protection insurance, or MPPI - will start to pay a tax free benefit. This monthly benefit can be used towards meeting your mortgage commitment every month as well as related costs such as life, critical illness and home insurance premiums, up to a provider's set limits.

By having this benefit, you will be able to still service your mortgage debt and not worry about getting in to arrears or even, in the worst case scenario, having your home repossessed. At a stressful time, having at least some of the financial worry taken away will mean you can focus on getting alternative employment and not be under pressure worrying how to pay your mortgage.

A typical mortgage unemployment insurance policy will start to provide an income from 30 to 90 days after you are made unemployed. This varies on the individual policy terms and conditions, as does the length of time you can receive the benefits (which can be for up to 12 to 24 months, or when you find new employment, whichever is the sooner).

How much you receive will have been agreed at the time you took out the mortgage payment protection insurance cover and this will be reflected in the premiums you will pay which will be x amount for every £100 worth of protection you require. By shopping around for your mortgage payment cover, you can often find it an affordable price, particularly among the independent brokers.

Also, for an additional fee, you can add on accident and sickness cover to the policy (that is why you may sometimes hear it called by the term Accident, Sickness and Unemployment Insurance - or ASU for short). That means that should you lose your income due to involuntary unemployment or due to recovering from an accident or a prolonged illness, the policy will start to pay out the benefit to give you financial assistance at a difficult time.

When choosing your mortgage unemployment insurance, do check that the terms and conditions very carefully, especially for any exclusions which would render the insurance useless. Typical exclusions will include the policyholder being in part time employment or of retirement age. If you are unsure as to whether you would be eligible to claim on your insurance, speak to your broker.Sean Horton is a Director of Enhanced Wealth who offer competitive mortgage insurance cover for mortgage repayment insurance and mortgage unemployment insurance]]> Income Insurance Protection Against Unemployment is Valuable http://www.artwoo.com/article/income-insurance-protection-against-unemployment-is-valuable http://www.artwoo.com/article/income-insurance-protection-against-unemployment-is-valuable#comments Wed, 30 Jul 2008 15:08:29 +0000 mortgage repaymentsstate benefitincome insurancecontinuous daysinsurance protectionfinding the moneyincapacity http://www.artwoo.com/article/income-insurance-protection-against-unemployment-is-valuable Income insurance protection against unemployment is an extremely valuable form of protection to have and rely on. With no ones job being safe thought has to be given as to how you would be able to manage if you lost your income. While some individuals rely on savings or benefit from the State to get them by, many times they are let down by the fact that savings run out before you get back to work or find work, and you might not be eligible to claim .

While there are exclusions that have to be checked with income if you go with an ethical standalone provider they add in just a few. You do have to check the terms and conditions of any cover you are comparing along with the cost of the insurance as exclusions vary depending on the provider and premiums vary.

Providers usually offer policies that would pay out an income tax-free after between 30 and 90 of unemployment or . Some will backdate the policy to the first day of incapacity of unemployment but you have to check the terms and conditions of the cover to find this out. You would then be able to benefit for between 12 and 24 months again depending on the provider, however after this period of time the policy would then cease. Usually this is ample time to have found another position or to have made a full recovery and be able to go back to work.

You would be able to keep on top of your with the money you received each month. This would mean that you would not get into arrears with your mortgage and have to worry about to catch up. If you were not able to catch up on the arrears then you would find the lender taking you to court and this could mean that the lender will repossess your home. You would then have to leave everything you had built up over the years.

Of course your income insurance protection against unemployment will allow you to keep up with other requirements that you have to make each month including any loan or credit card outgoings. Getting behind into debt means that you would at the very least see your credit rating being affected. As all lenders take your credit rating into account when choosing to give you credit or not this means that obtaining credit could be very hard and in the worst case the lender could take you to court. This would mean that you could gain a County Court Judgement against you.

Taking out your income insurance protection against unemployment with a specialist in payment protection is the cheapest way to get your policy. It is also the best way to obtain all the information needed for you to be able to understand what you are taking on. Do not get income payment protection confused with income protection insurance as while both policies are similar, income protection insurance pays out in the long term and does not cover unemployment.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of income insurance protection unemployment.]]> Accident Sickness Unemployment Insurance or ASU Insurance http://www.artwoo.com/article/accident-sickness-unemployment-insurance-or-asu-insurance http://www.artwoo.com/article/accident-sickness-unemployment-insurance-or-asu-insurance#comments Thu, 31 Jul 2008 07:43:27 +0000 accident sickness unemployment insurancemortgage payment protectionmortgage repaymentsloan repaymentsmortgage protectionoutgoingsloan protection http://www.artwoo.com/article/accident-sickness-unemployment-insurance-or-asu-insurance accident sickness unemployment insurance is termed ASU insurance. As the name would suggest it would protect against becoming unable to work after suffering an illness or accident and protect against unemployment by such as being made redundant.

There are different policies for different types of situations. would cover the repayments of the mortgage. would be able to protect any loan and credit card repayments you had to make. Income payment protection would allow you to continue paying your essential each month.

All policies would have the same basic rules. You pay a premium each month decided by your age and the amount you wish to protect each month. In the case of you can also choose whether just to cover against unemployment only or incapacity only to keep down the cost. Age based policies means that the younger generation can take now afford to protect their borrowings each month.

There are certain exclusions to be found in the small print of all payment protection cover. These have to be checked if you are to be certain that you would be able to claim on the cover. Once you have then you can check to see when the cover would begin and end. Payment protection usually starts to provide an income between the 30th and 90th day and would continue between 12 and 24 months. Some providers will also backdate to the first day of you being unable to work or of being unemployed.

Accident sickness unemployment insurance is essential if you have a mortgage to keep up with. By failing to maintain the repayments of the mortgage you are breaking the contract you signed and as such the lender can choose to repossess your home. While they do not do this if at all possible, not being able to agree with the lender on how you would catch up on what you owe, while at the same time missing more of your means the lender will repossess. If you were to get behind on and into debt then you could get a County Court Judgement against you and at the very least your credit rating would be affected and you would still have to make an agreement to repay the loan.

When you take out the loan or mortgage with the lender they will try to get you to take out accident sickness unemployment insurance. They charge way over the odds for the protection and bring in around £4 billion each year solely in profits from tagging on the insurance. Along with this often very little information is given regarding the policy you are taking on and in some cases in the past this has led to consumers taking out cover that they could not hope to claim against. There have been many problems with payment protection in the past but it can be a very worthwhile policy to have. It is also important to remember that the product does work providing you check to make sure it is right for your needs.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of accident sickness unemployment insurance.]]> Accident Sickness Unemployment Insurance For Peace of Mind Against Income Loss http://www.artwoo.com/article/accident-sickness-unemployment-insurance-for-peace-of-mind-against-income-loss http://www.artwoo.com/article/accident-sickness-unemployment-insurance-for-peace-of-mind-against-income-loss#comments Fri, 12 Sep 2008 12:15:35 +0000 accident sickness unemployment insurancemortgage payment protectionloan payment protectionloan repaymentsbad credit ratingbailiffsinsurance policy http://www.artwoo.com/article/accident-sickness-unemployment-insurance-for-peace-of-mind-against-income-loss bailiffs come to the home to take your possessions. In all cases your credit rating would be affected and this means borrowing in the future could be very hard. can be taken out to safeguard against a loss of income and it makes life a lot easier.

You are able to take out an accident sickness unemployment for your needs. You can choose to take mortgage cover, loan and credit cards insurance or insure you income with income payment protection. All policies would work in the same way, you would have to be unable to work or unemployed for a fixed amount of time. Providers usually offer policies that would payout after a period of between the 30th day and up to day 90. Some would backdate the payment to the first day of you being made redundant or of becoming incapacitated. After commencement you would have a period of time in which to find work or recover and get back to work. This is usually either a 12 monthly policy or 24 payments, at one each month.

Of course your biggest worry would be your mortgage. Failing to keep up with the mortgage could mean that the lender would take you to court and you could lose your home to repossession. With you would not have this worry as you would be able to pay on time without a problem.

If have to be met each month then could be taken. This would allow you to meet them and so not earn a . Your credit rating is essential as all lender look at it when deciding whether to give you a loan or not. A bad rating could mean you pay higher rates of interest, even if you are approved.

Income payment protection would cover all you essential outgoings as you insure up to a certain amount of your own income each month. With the money you received you would be able to pay your mortgage, loan repayments and all other household bills each month.

All forms of accident sickness unemployment insurance are cheaper when taken out with a standalone provider. A standalone provider would charge premiums which are based on the amount you wish to protect each month and your age. In the case of mortgage payment protection the level of cover would also be taken into account. You could take out protection against accident sickness and unemployment together. However you can also just take unemployment cover or just incapacity cover if this is what you need. As the policy would be based on your age when applying the younger you choose to take out insurance, the cheaper the policy would become.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of accident sickness unemployment insurance.]]> Income Insurance Protection Against Unemployment and Incapacity Worth Considering http://www.artwoo.com/article/income-insurance-protection-against-unemployment-and-incapacity-worth-considering http://www.artwoo.com/article/income-insurance-protection-against-unemployment-and-incapacity-worth-considering#comments Fri, 12 Sep 2008 12:36:34 +0000 loan repaymentsmortgage lenderspoor credit ratingincome insurancebeing made redundantinsurance protectionmortgage payment http://www.artwoo.com/article/income-insurance-protection-against-unemployment-and-incapacity-worth-considering being made redundant. One way of protecting this is to take out protection against unemployment and incapacity.

Income against unemployment and incapacity means that you would have an income to replace your own and this would be tax-free. You would have to wait for a period of time before you are able to put in a claim on the policy and then it would payout for a certain period of time. Usually you would have to wait around 30 to 90 days and then you could put in the claim. Following commencement of payout it would then continue for between a period of 12/24 months and after this time it would stop. However usually this is ample time for you to have made a recovery or to have found work again.

With the policy there would be no worrying about how you would meet your when it was due. You would be able to continue meeting the payment and ensure that you are not going to fall into arrears and so risk losing your home to the mortgage lender. will usually try and help you reach an agreement by catching up on the arrears while at the same time paying the mortgage. However without a regular income there would be not way you could make such an agreement and if you continued to fall behind the lender would start repossession proceedings.

You would also be able to meet any or those of credit cards with the income the policy supplied. Again keeping up with these is essential as at the very least you would have your credit rating affected. A would mean that you could find it very hard to get approved for credit in the future as this is what all lenders take into account. If you have had your credit rating affected by missed payments on loans or credit cards then it is highly unlikely that your loan application would be looked on favourably.

Income insurance protection against unemployment and incapacity should not be confused with a very similar named product which is income protection insurance. This policy would provide you with an income but it would not protect you against unemployment caused by such as being made redundant. There would be a longer period of deferment but the cover would payout for a lot longer period than income payment protection would. In fact once the policy had started to payout it would then continue to do so for up to the age of retirement it need be. You would have to look into what both policies offered to decide which would be the most suitable for your needs before taking it out. An ethical provider will supply you with all the information you need on their website so you can make the right choice.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of income insurance protection unemployment.]]> Staying Prepared With Unemployment Insurance http://www.artwoo.com/article/staying-prepared-with-unemployment-insurance http://www.artwoo.com/article/staying-prepared-with-unemployment-insurance#comments Fri, 08 Dec 2006 14:27:04 +0000 unemployment insurance planmaximum benefitminimum benefitwagessocial insurance programunemployement insuranceunemployed workers http://www.artwoo.com/article/staying-prepared-with-unemployment-insurance social insurance program that provides temporary benefits to , and imposes payroll taxes on covered employers. It was created in response to the Great Depression, when millions lost their jobs. It was legalized in 1935 as a part of the Social Security Act.

Benefits of :

Unemployment insurance replaces a part of your income when you lose your job, for no fault of your own. If your employer has laid you off, then you are potentially eligible to collect the benefits for at least 26 weeks, until you are recalled, find another job or leave the workforce. In general, the amount of benefit is based on the percentage of earning of an individual, over a recent period of 52 weeks. Many unemployed workers are also provided 50 to 60 percent of their previous , but this would depend on the state they live in. Each state in the US works on a different , while the federal law determines the guidelines of each program. This insurance makes sure that the purchasing power of the citizen is maintained. The money for providing these benefits comes from the tax that is imposed on the employers. No contribution comes from the wages of employees. Some States may provide additional benefits for some specific purposes.

Eligibility For Insurance Benefits:

The state law determines the eligibility, amount, and the length of time the benefits will be available to an individual. The amount of benefit depends on the kind of work that you have performed. Your recent work record for a period of 12 months is known as the base year. The claim for unemployment insurance will be based on this base year. In Oregon, 104 dollars per week is the . The a worker can receive is 445 dollars per week. If your wages are 8,112 dollars during the qualifying period, you can become eligible for benefits for 26 weeks. In case of lower qualifying wages, however, you will receive just one third of the amount.

If you want to file a claim for unemployment insurance you need to contact the State Unemployment Insurance agency as soon as possible. You can also file it on the Internet or by telephone. You will receive your first benefit check within two to three weeks of filing the claim. Some states have a waiting period of one week. It is important to give all the information about your former employment when you file the claim, to ensure that the process is not delayed.

The eligibility for collecting additional benefits starts after an unemployed worker has exhausted other unemployment insurance benefits. The State agency can offer you advice on your eligibility for these additional benefits.

Reasons for Disqualification:

If your reason for staying out of a job is because of something other than the lack of work opportunities, then the State agency will determine if you are eligible for the benefits or not. In case of a disqualification, you can file an appeal within an established period. Your employer can also file a counter appeal if he/she disputes the genuineness of your eligibility.

Therefore, if you are eligible for unemployment insurance, then get in touch with the State Unemployment Insurance agency as soon as possible to be able to overcome the financial crisis that results from being unemployed. Joe Kenny writes for the UK personal finance sites http://www.ukpersonalloanstore.co.uk and also http://www.cardguide.co.uk ]]> Staying Prepared With Unemployment Insurance http://www.artwoo.com/article/staying-prepared-with-unemployment-insurance http://www.artwoo.com/article/staying-prepared-with-unemployment-insurance#comments Fri, 08 Dec 2006 12:27:06 +0000 unemployment insurance planmaximum benefitminimum benefitwagessocial insurance programunemployement insuranceunemployed workers http://www.artwoo.com/article/staying-prepared-with-unemployment-insurance social insurance program that provides temporary benefits to , and imposes payroll taxes on covered employers. It was created in response to the Great Depression, when millions lost their jobs. It was legalized in 1935 as a part of the Social Security Act.

Benefits of :

Unemployment insurance replaces a part of your income when you lose your job, for no fault of your own. If your employer has laid you off, then you are potentially eligible to collect the benefits for at least 26 weeks, until you are recalled, find another job or leave the workforce. In general, the amount of benefit is based on the percentage of earning of an individual, over a recent period of 52 weeks. Many unemployed workers are also provided 50 to 60 percent of their previous , but this would depend on the state they live in. Each state in the US works on a different , while the federal law determines the guidelines of each program. This insurance makes sure that the purchasing power of the citizen is maintained. The money for providing these benefits comes from the tax that is imposed on the employers. No contribution comes from the wages of employees. Some States may provide additional benefits for some specific purposes.

Eligibility For Insurance Benefits:

The state law determines the eligibility, amount, and the length of time the benefits will be available to an individual. The amount of benefit depends on the kind of work that you have performed. Your recent work record for a period of 12 months is known as the base year. The claim for unemployment insurance will be based on this base year. In Oregon, 104 dollars per week is the . The a worker can receive is 445 dollars per week. If your wages are 8,112 dollars during the qualifying period, you can become eligible for benefits for 26 weeks. In case of lower qualifying wages, however, you will receive just one third of the amount.

If you want to file a claim for unemployment insurance you need to contact the State Unemployment Insurance agency as soon as possible. You can also file it on the Internet or by telephone. You will receive your first benefit check within two to three weeks of filing the claim. Some states have a waiting period of one week. It is important to give all the information about your former employment when you file the claim, to ensure that the process is not delayed.

The eligibility for collecting additional benefits starts after an unemployed worker has exhausted other unemployment insurance benefits. The State agency can offer you advice on your eligibility for these additional benefits.

Reasons for Disqualification:

If your reason for staying out of a job is because of something other than the lack of work opportunities, then the State agency will determine if you are eligible for the benefits or not. In case of a disqualification, you can file an appeal within an established period. Your employer can also file a counter appeal if he/she disputes the genuineness of your eligibility.

Therefore, if you are eligible for unemployment insurance, then get in touch with the State Unemployment Insurance agency as soon as possible to be able to overcome the financial crisis that results from being unemployed. Joe Kenny writes for the UK personal finance sites http://www.ukpersonalloanstore.co.uk and also http://www.cardguide.co.uk ]]> 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/ ]]> Consider Unemployment Insurance to Stop Financial Difficulties Arising http://www.artwoo.com/article/consider-unemployment-insurance-to-stop-financial-difficulties-arising http://www.artwoo.com/article/consider-unemployment-insurance-to-stop-financial-difficulties-arising#comments Fri, 12 Sep 2008 12:08:23 +0000 mortgage payment protectionloan payment protectionmortgage repaymentsunemployment protectionunemployment insurancedeferment periodfood bills http://www.artwoo.com/article/consider-unemployment-insurance-to-stop-financial-difficulties-arising Unemployment insurance can stop a great deal of financial difficulties from arising if you should find yourself a victim of redundancy. If you stop to consider how you would pay your mortgage each month, loan payments or indeed your essential monthly outgoings such as heating, lighting and , taking out insurance makes a lot of sense.

To cover your income you would need to consider unemployment insurance called income payment protection. You insure a set amount of your own income and if you need to claim this is what you get back as a tax-free payment. With this money you are able to continue paying all of your essential outgoings which of course could include your mortgage, loans and any other bills that keep the home running each month.

If you just need to cover your each month then consider taking out a policy as unemployment insurance. This is a very valuable policy as it can mean the difference between losing your home to repossession by the lender and keeping it. Because you are just insuring your mortgage payment a policy might not cost as much as if you were insuring the whole of your income.

Loan payment can be kept abreast of with . You would insure up to a certain amount of the payments of your loans or credit cards if you borrow on these. This means that you do not falter on the loan and so your credit rating remains intact. It also means you are not at risk of the lender taking you to court.

would provide you with your income once you had reached the timeframe set out in the policies terms and conditions. Providers will generally state a of between 30/90 days. Some will offer to backdate to day one of you being unemployed or incapacitated so you have to check the terms for this too. You would then receive a payment each month for either 12 monthly payments or 24 monthly payments and then the cover would stop paying out. During this time you would have peace of mind which allows you to concentrate on finding work.

As no one can say that their job is safe considering unemployment insurance is essential. Of course you could think that you would be able to claim benefit from the State to help you get by. While you may be entitled to receive help the help may not be enough. In the case of mortgage payments you would only get help with the interest part of the mortgage payment and then up to a certain amount. You would also have to wait many months before you would see any money. You would have to think twice about relying on savings because it could be many months before you found suitable work and savings might not last that long. If you take out a policy with an independent provider you will get the cheapest premiums and make huge savings when compared with high street lenders.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of unemployment insurance.]]> Unemployment Income Protection Insurance For a Replacement Income http://www.artwoo.com/article/unemployment-income-protection-insurance-for-a-replacement-income http://www.artwoo.com/article/unemployment-income-protection-insurance-for-a-replacement-income#comments Mon, 15 Sep 2008 10:15:27 +0000 income protection insuranceworst case scenarioloan repaymentsjob huntingsuitable workjudge ruleseventuality http://www.artwoo.com/article/unemployment-income-protection-insurance-for-a-replacement-income loan repayments and of course all the bills that come into the home that keep you living comfortably? Not a nice thought is it? This is why you need to give some thought to taking out unemployment to be prepared for such an .

With an unemployment income protection insurance policy behind you at least when it came to financial matters such as your mortgage and other payments there would not be a problem. Of course you would have to deal with many other issues such as getting over the shock and the huge change. You would also have to get back to and it could take many months to find depending on the type of work, your skills and age. However the policy would cover you for the period of time that it was set out which is usually between 12 monthly payments and 24 monthly payments. You would have to stand to a certain amount of time before the cover would begin to provide your income. Providers could ask between 30 and 90 days before you would be able to put in a claim and some offer to back pay to the first day you become unemployed.

Being able to pay your mortgage is essential. In the if you could not make an agreement with the lender to pay off any arrears and continue meeting the standard payment at the same time you could find them taking you to court. If the in favour of the judge and without an income coming in, this is more than likely, you would lose your home. You would then have so much time to pack up and move up, this would be set as the eviction date. At the very least you could struggle a great deal each month to keep up the payment and have to make many changes to your lifestyle to keep your head above the water.

Unemployment income protection insurance when taken out with an independent payment protection specialist is based on a monthly premium. This premium is decided by how old you are when you apply for the cover and the amount you want to protect of your income. All payment protection specialists will set a limit on the amount that you are able to cover each month and this is the sum paid back to you. If you take out a policy that is based on age this means that you can get cover far cheaper than someone older. However buying a policy with a standalone provider is always the cheapest way to take out protection, high street lenders often sell payment protection with high premiums.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of unemployment income protection insurance.]]> Unemployment Cover Could Replace A Lost Income http://www.artwoo.com/article/unemployment-cover-could-replace-a-lost-income http://www.artwoo.com/article/unemployment-cover-could-replace-a-lost-income#comments Wed, 21 Nov 2007 07:15:01 +0000 mortgage payment protectionunemploymentloan payment protectionaware that therewhich means thatmortgage protectiontechnical jargon http://www.artwoo.com/article/unemployment-cover-could-replace-a-lost-income unemployment cover could give you peace of mind and an income each month if you should find yourself out of work. Unemployment cover can be taken out to safeguard against the possibility that you could come out of work for a length of time if you were to be made unemployed by way of being made involuntarily redundant.

While the cover can be a great asset to have in your corner you do have to be are exclusions in a policy which could stop you from making a claim and depending on where you buy the protection from, these aren't always highlighted, but are hidden in the small print. A standalone specialist provider should always be your first option when thinking of protecting against unemployment with unemployment cover; they will offer the best advice and give you the key facts in English without all the commonly associated with policies. Along with this they will offer among the cheapest premiums for the cover you make savings which can be hundreds of pounds while getting a quality product.

Unemployment cover can be taken out in the form of , income protection and and all policies have exclusions which mean that the products might not be suitable for your circumstances. Exclusions which are common to all payment protection policies include being in part time work, self-employed, suffering from a pre-existing illness or being retired. There can be others so it is essential that you read the policies small print before buying.

Providing a policy would be suitable for your needs then it could give you a payout each and every month you were out of work for between 12 and 24 months depending on the provider. Cover usually starts after a waiting period which is anywhere between the 31st day and the 90th day of being out of work.

Unemployment cover taken out as will give you the money each month that you need to make sure that you can continue repaying your mortgage, which means that you aren't at risk of losing the roof over your head through having your home repossessed. If you want to safeguard against the possibility of losing your income through unemployment then income protection will allow you to insure up to a certain amount of your income each month so that you can continue paying your essential outgoings. Loan payment protection will give you a replacement income if you should be made unemployed so that you can continue meeting your loan repayments each month and not get behind and into debt.

All policies work out cheaper if you get a quote from a standalone specialist provider. Someone who specialises in payment protection will be able to give you all the information needed so that you can make an informed decision regarding the products suitability for your particular needs. Unemployment cover can give peace of mind and replace your lost income through unemployment by such as redundancy or it can be taken out as accident, sickness and unemployment cover together depending on 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. ]]> Mortgage Protection Against Unemployment http://www.artwoo.com/article/mortgage-protection-against-unemployment http://www.artwoo.com/article/mortgage-protection-against-unemployment#comments Thu, 24 Jul 2008 15:50:18 +0000 mortgage repaymentsindependent paymentclaiming income supportmortgage protectionmortgage paymentswhere jobsmortgage lender http://www.artwoo.com/article/mortgage-protection-against-unemployment Mortgage protection against unemployment is an excellent way of ensuring that you would still have an income if you were to find yourself a victim of redundancy. While you can just protect against the possibility of unemployment, you can also cover yourself against losing your income to accident and sickness too for a little extra.

As redundancies happen more and more frequently in areas were once thought to be safe, it is essential to give some thought to how you would continue to pay your mortgage if you were a victim. You could have given some thought to the fact that you would be able to fall back on savings in the bank. However as you do not know how long unemployment might last, you cannot rely on savings being adequate to cover your mortgage for long. State benefits could also let you down, as even if you were able to claim you would only get help towards the interest part of the mortgage. There are many requirements that have to be met set out by the State with one of them being that you need to be . You must also not have savings over a certain amount and not have a partner living with you who is in full time employment. You would also have to wait several months before seeing any money even if you were eligible to claim money from the State.

Your could have patience with you and they may try to help by being willing to make an agreement so that you are able to pay back arrears and continue paying your . However, if you cannot tell them when you could go back to work, or when you would have money, you would not be able to make an agreement. If you continued to miss your then the lender would have no other option but to take repossession of your home.

Mortgage protection against unemployment does not have to cost a lot each month. With an protection provider you will get the cheapest quotes, which in some cases can save you as much as 40%. Along with this an ethical provider will offer all the information you need for you to determine if a policy is suitable for your needs. Exclusions have to be checked against your circumstances and this will show you if mortgage cover could be taken and relied upon.

Mortgage protection against unemployment differs with each independent specialist. So when you are comparing the quotes for the protection you also need to see how long the deferment period would be and how long your policy would payout. Usually providers state in the terms and conditions between 30 and 90 days before you are able to put in a claim. All policies payout for a certain period of time which is usually in the region of 12 months to 24 months and then they cease. However usually this is adequate time to have made a full recovery or to have found a suitable job.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage protection unemployment.]]> Mortgage Unemployment Insurance Needs Comparing for the Best Deal http://www.artwoo.com/article/mortgage-unemployment-insurance-needs-comparing-for-the-best-deal http://www.artwoo.com/article/mortgage-unemployment-insurance-needs-comparing-for-the-best-deal#comments Thu, 24 Jul 2008 16:15:17 +0000 mortgage unemployment insurancemortgage payment protectionmortgage problemssuitable mortgagemortgage providersrepossessionpeace of mind http://www.artwoo.com/article/mortgage-unemployment-insurance-needs-comparing-for-the-best-deal Mortgage unemployment insurance is one way of safeguarding against this possibility.

The cost of the mortgage unemployment insurance policy would fluctuate between providers; you could also choose to take out protection for unemployment, accident and sickness together for a little more each month. Some providers offer age based cover which takes your age when applying into account, and this is the cheapest way for younger home buyers to protect the huge mortgage they take on. It would also depend on how much you wished to insure against, which can be up to a certain amount each month.

Your policy would allow you the that you would not get into arrears. If you do get into arrears and cannot show the lender how you are able to catch up, then they will have no choice but to seek of your home. can begin from the first missed payment which will show up on your credit file and go against you and the problem can very quickly escalate to you being taken to court.

However there is no need to worry about any of this if you have protected the repayments of your mortgage. You would have to check when the policy would begin and end as these differ considerably. Some would payout an income after you had been unemployed for a period of 30 days continually. Others could ask for at least a 90 day waiting period before they would payout. You could get a policy that would run and provide an income for 12 months and some providers may offer a policy that extends for up to 24 months. The details can be found in the terms of the policy and need to be checked along with the exclusions.

You do have to consider the exclusions as these are what help you to decide if you would be eligible to claim on the mortgage unemployment insurance policy you are thinking of taking out. Problems in the past did arise as a result of consumers not being aware of exclusions and being sold policies they could not claim against. This was brought to the Office of Fair Trading`s attention and resulted in the sector being investigated by both the Office Of Fair Trading and the Financial Services Authority, along with an in-depth review by the Competition Commission. The majority of fines that were handed out were to high street lenders who tagged payment protection insurance onto loans and mortgages at the time of selling the loan. One of which was a mortgage lender who had failed to have the best interests of the consumer at heart. Mis-selling has ranged from selling protection to those of retirement age and to those not in a full time position.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage unemployment insurance.]]> Guard Against The Unknown By Taking Out Unemployment Insurance http://www.artwoo.com/article/guard-against-the-unknown-by-taking-out-unemployment-insurance http://www.artwoo.com/article/guard-against-the-unknown-by-taking-out-unemployment-insurance#comments Tue, 25 Dec 2007 22:34:59 +0000 mortgage payment protectionloan payment protectionloan repaymentsunemployment insurancework part timeinterest mortgagemortgage insurance http://www.artwoo.com/article/guard-against-the-unknown-by-taking-out-unemployment-insurance Unemployment insurance is a term used for , loan protection and income protection which is taken out in case some time in the future you find yourself unemployed by way of unexpected redundancy. While there have been many problems associated with the cover it can be a valuable lifeline if you should come out of work by giving you a tax free income each month.

Cover can be taken out just to protect against becoming unemployed or for additional cost you can include becoming unable to work through accident or sickness. The cover can be invaluable if you suddenly lose your income but unemployment insurance is not suitable for all individuals due to the exclusions in a policy. Common ones in all policies are if you suffer an ongoing illness, are of retirement age, only or are self-employed. Always check the terms and conditions of a policy because exclusions will also depend on the provider.

Once you have made sure that a policy would be suitable then you have to decide which type of cover would be in your best interest. will give you a tax free income so that you can keep the roof over your head by continuing to pay your mortgage each month. will be needed if you have monthly to make each month or credit card repayments. Income protection can be taken out to make sure you will be able to continue paying essential outgoings and so not have to change your lifestyle too much.

Unemployment cover could begin to give you an income from between the 31st and 90th day of being out of work continually. Once the cover has started to payout it would continue to do so for between 12 and 24 months which usually is more than enough time for you to find work and get back on your feet again. The premiums for the cover are based on the amount of your income; loan, mortgage or credit card repayments that you wish to cover and also how old you are at the time of taking out the cover.

While premiums do vary a standalone specialist provider will always offer the cheapest quotes for unemployment insurance and along with this they will always give the essential key facts so the individual can make an informed decision regarding the suitability of a policy.

Since the investigation began by the Financial Services Authority in 2005 following a super complaint by the Citizens Advice faith has been lost in payment protection policies. However it should be remembered that it is not the fault of the actual products but those who sell the cover with little or no sales experience. The majority of those fined have been high street lenders who sell unemployment insurance alongside loans, mortgages and credit cards. The safest and cheapest way to buy any type of payment protection policy is with someone who specialises in selling this type of cover, a specialist will have the answers to any questions relating to payment protection. 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. ]]> Mortgage Protection Insurance For Repayment Peace of Mind http://www.artwoo.com/article/mortgage-protection-insurance-for-repayment-peace-of-mind http://www.artwoo.com/article/mortgage-protection-insurance-for-repayment-peace-of-mind#comments Thu, 24 Jul 2008 18:57:17 +0000 mortgage protection insuranceaccident sickness and unemploymentindependent paymentmortgage firmcitizens adviceprotection specialistrepayments http://www.artwoo.com/article/mortgage-protection-insurance-for-repayment-peace-of-mind repayments and you are at serious risk of losing the roof over your head as the lender will take you to court. You could lose your income and not be able to pay your mortgage if for instance you lost your job to unemployment. Redundancies happen and it could happen to you with little warning. The same applies to illness or having an accident. would safeguard against all three eventualities.

Often when taking on a mortgage the lender will try to get you to take out mortgage protection insurance. However this is not entirely due to the fact that they are looking out for your best interests, but rather that it brings them in around £4 billion in profits each year. Protection for your loan is notoriously expensive when taking it this way and you do not have to take it alongside the borrowing. You are able to shop around and find a policy much cheaper if you look with an . This is also the way to get access to all the information needed to be able to determine if cover is suitable.

There has been a lot of controversy regarding payment protection products since an investigation into the sector began in 2005 after the began an investigation into the sector. The Financial Services Authority also conducted an investigation and this led to firms receiving fines, which included a . It is important for consumers to realise that payment protection products are not at fault but it those who sell them without giving out advice that are to blame. If you have access to the key facts and exclusions so you can check them against your circumstances then you can have a policy that you can rely on.

With a specialist payment protection provider you are able to choose the amount of protection you wish to take out. If you need protection against accident, sickness and unemployment only then you can take just this. However you might just want to insure against unemployment only or accident and sickness only. This will go towards determining how much you pay for the premiums along with how much cover you need and your age. If you take out age based mortgage payment protection then even those who have pushed their outgoings to the limit can afford to protect their mortgage repayments.

You do have to compare the terms and conditions of any mortgage protection insurance policy you are considering taking out as this will tell you when the cover would begin and when it would end. Some providers will offer a policy that could payout after unemployment or incapacity of just 30 days. Others could ask that you wait for as long as the 90th day. Sometimes providers will payout for a period of 12 months and others might continue providing you with benefit for up to 24 months.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage protection insurance.]]> Guard Against Redundancy With Unemployment Insurance http://www.artwoo.com/article/guard-against-redundancy-with-unemployment-insurance http://www.artwoo.com/article/guard-against-redundancy-with-unemployment-insurance#comments Thu, 31 Jul 2008 07:50:32 +0000 mortgage payment protection insurancemortgage repaymentsmortgage payment protectionpayment protection insuranceloan repaymentsunemployment insurancespecialist provider http://www.artwoo.com/article/guard-against-redundancy-with-unemployment-insurance unemployment insurance. Looking for and comparing quotes with a as opposed to adding protection into the loan is the best way to take out a policy.

Unemployment insurance can cover a huge range of financial outgoings which include allowing you to be able to maintain your , and your monthly living expenses. You would not be left struggling to mind money or have to rely on savings or help from the State. State benefits can be applied for but to be able to receive them you must meet certain rules. You must not have savings in the bank over a certain amount or have a partner living with you who is in full time employment. If you are claiming for help with your mortgage you would only get so much towards the interest part of your mortgage and you could have to wait several months before seeing benefit. If claiming for a loss of income in general then you would not receive an amount equal to your lost income which would leave you having to juggle bills around.

A far better solution to protecting against a loss of income is to take out income payment protection. This would allow you to cover up to a certain amount of your own income each month and this is the sum you would receive if you were made redundant. With income protection you would be able to continue paying your mortgage to keep the roof over your head. You would also be able to maintain loan or credit card repayments and keep up with all other outgoings each month.

If you just wanted to protect your mortgage repayments then you should consider taking out insurance. This would allow you to cover your repayments up to a certain amount and the claim this each month tax free if you were unemployed. An age based policy is great for the younger generation who stretch their budgets to the limit each month as the younger you are the cheaper the premium will be. In some cases by buying from an independent payment protection specialist you can make savings of as much as 40% on mortgage payment protection.

Income, mortgage and loan unemployment insurance would begin to provide you with an income between days 30 and 90. Some providers would backdate their policy to the first day of becoming unemployed. Once the policy has started to pay out it would then continue to do so for between 12 months and 24 months and then it expires. In the majority of situations this would provide ample time for you to recover and get back to work or to have found another job.Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of unemployment insurance.]]> Unemployment Cover Can Give You An Income And Peace Of Mind http://www.artwoo.com/article/unemployment-cover-can-give-you-an-income-and-peace-of-mind http://www.artwoo.com/article/unemployment-cover-can-give-you-an-income-and-peace-of-mind#comments Mon, 07 Jan 2008 17:20:00 +0000 loan payment protectionmortgage repaymentsloan repaymentssickness and accidentspecialist providerpart time workmortgage protection http://www.artwoo.com/article/unemployment-cover-can-give-you-an-income-and-peace-of-mind mortgage repayments or .

Unemployment cover can be taken out as , or income protection and all policies have exclusions in them that could prevent you from making a claim. Exclusions which are common to all policies include being retired, self-employed, suffering a pre-existing medical condition or only being in . While these are just the common ones there can be others and this is one of the reasons why you have to read the small print of a policy before you buy the cover.

Mortgage protection can give you an income if you should become unemployed with which to carry on paying your mortgage each month. The State gives very little help even if you are entitled to receive any and this means that your home could be at risk of repossession. Loan payment protection will cover your monthly loan repayments each month so that you do not get into debt and income protection will give you an income to replace up to a certain amount of your own. All policies can be taken out to just cover unemployment or you can choose to add on cover.

Providing you have ensured that a policy would be in your best interests it would begin payment once you had been continually off work for anywhere between 31 and 90 days. Cover would then continue providing you with a tax free monthly income for between 12 and 24 months depending on the provider, so do check out the small print very carefully.

While cover is usually pushed alongside a mortgage, loan or credit card this is the dearest way to take it and a far better option is going with an independent . A specialist will always offer the cheapest premiums and along with this will ensure that you have access to the key facts needed to determine if a policy is suitable. A lack of information regarding payment protection products including unemployment cover is what has led to the cover getting a bad name, which stemmed from the 2005 investigation by the Financial Services Authority.

March 2008 will see the introduction of tables which will allow the individual to compare unemployment cover and see which is the most suitable for their needs. It should make the cover more transparent by revealing the exclusions and will tell the consumer how much the cover will cost in total. Unemployment cover is confusing and many have been coerced into taking out a policy that they could not hope to claim against but providing you stick with an independent provider and read the small print it can work. 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. ]]>