Financial Favourites

When you take out a guarantor loan, depending on the lender, you may be offered payment protection insurance, so what is this and should you take it?

Payment protection insurance is insurance against the worst happening and you being unable to make payments.

If you feel that you need protection, to make sure that you maintain your payments, it may in fact be better to look at income protection insurance as this is cover for the same sorts of eventualities but instead allows you to distribute the payouts however you wish, be it on loan repayments or on food, utility bills and so forth.

For more information on Guarantor Loans please click here.

For more information on Income Protection Insurance click here.

Life insurance barely needs explaining.  If you have people who rely on you to support them then you need to consider protection their future in the event of your death.

If you die prematurely life insurance will pay a large sum to your elected beneficiary.

If you would like to consider life insurance and would like a free quote, please click here.

Just because you have the financial security you need at the moment does this you’ll have it if you lose your job, or become too ill to work?

Income protection insurance is a way to prepare for this, like other insurance products you pay a premium to protect against a possible future event.

This inusrance pays out a monthly, agreed, sum to you after you lose your job to enable to you pay bills and cover expenses.

For more information on income protection, please visit:  www.incomeprotection-insurance.co.uk