Loan protection insurance works by:
- Providing monthly, tax-free payments (a portion of your income)
- Helping you to keep up with loan or credit card repayments (up to an agreed level)
- Giving you time to recuperate or find a new job without the pressure of repayments
Loan protection insurance payments are for a fixed, temporary period, up to 24 months depending on the term of your policy.
You can also choose to insure your mortgage payments, which will pay a fixed proportion of your mortgage repayments, and other lifestyle expenses. Get a quote today and see how much it costs to get loan protection insurance to cover your outgoings.