Protect Your Loan Repayments With Loan Cover In Case You Should Lose You Income
As no one knows whats around the corner, if you have monthly loan repayments to meet you should give some serious consideration to how you would continue to repay them if you were to find yourself out of work through suffering an illness, accident or if you should find yourself unemployed by such as redundancy. Loan cover can give you great peace of mind but it can only do the job its intended to do if it is suitable for your circumstances.
Loan cover can give you a monthly income which you can then use to continue meeting your loan repayments if you should lose your income through being out of work for any length of time. The tax free income that a policy can bring would start between the 31st day and the 90th day of being out of work depending on the individual provider and would then continue for between 12 and 24 months.
However you do have to be aware that there are certain factors that can stop you from making a claim and these are listed as the exclusions in a policy with some being common to all policies. If you are of retirement age, self-employed, suffer from a...
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