If you have ever been into a high street bank or lender and asked for a loan, I guarantee that you will have been offered loan cover during the course of the interview. Most people baulk at the thought of it – because of the cost of because they simply do not understand it – and turn it down flat.
And although some of the providers do not merit consideration, the overall product does because loan cover is the one thing that can provide you with peace of mind just in case something goes wrong.
In truth, loan cover can be a gift from the Gods if an individual was to lose his or her job before the term of the loan had completed. It is hard enough to meet household bills without a job, let alone meet the debt repayments that you have faithfully promised to make. This could lead to CCJs, severe debt and even bankruptcy if an individual is not careful. However, loan cover can prevent all of that happening by covering the repayments on the sum of money you have outstanding for a period of up to twelve to twenty-four months, or until you find steady employment that would allow you to pay the bills again yourself.
Loan cover is often offered in...
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