When you apply for a loan there is a good chance that you will also be offered loan protection insurance. Personal loan insurance is designed to meet your loan repayments for a period of 12 months or more in the event that you are unable to work due to accident, sickness and involuntary unemployment.
If personal loan insurance meets your needs and is suitable for your particular circumstance then it is probably a good insurance to have. However think carefully about the terms and the costs. Getting the best deal on your personal loan could be spoilt by paying more than you need for the add on loan protection insurance cover from the loan company. What would be worse would be to pay for cover which was not totally suitable for your needs.
You may well have chosen your loan company because they were a specialist in that area of finance. Being a specialist in arranging or providing loans does not necessarily make them a specialist in personal loan insurance products even if those insurance products are connected to the loan.
Most lenders will not tie you to purchasing their loan protection product so you could be free to shop around and get cheaper loan insurance.
We have chosen to refer you to a website owned and operated by British Insurance Limited who are specialists in loan protection insurance and loan payment protection insurance.
British Insurance Limited has been recommended in a large number of local and national newspapers and magazines including The Times, The Telegraph, The Guardian, The Mail on Sunday and The Financial Times. In addition, its products have topped Which? ‘best buy’ surveys and it is the exclusively appointed provider of protection insurance to the members of The British Insurance Brokers’ Association (BIBA).
When you click to go to the British Insurance Limited website you will be able to get a no obligation and confidential instant quote for personal loan insurance, together with all the information you require to securely apply online for personal loan protection insurance.
British Insurance Limited are directly authorised and regulated by the Financial Services Authority under registration number 302674. Please be aware that responsibility under Financial Services Authority regulations will therefore be assumed directly by British Insurance Limited if you purchase loan protection insurance from them.