We all need to borrow money from time to time. Many of us will use credit cards for a simple and quick way of borrowing money over short periods. However, credit cards are very expensive if you keep balances long term. A cheaper option would be to take out a personal loan and spread the cost with a fixed interest rate.
It is very easy now to search on the internet for the cheapest personal loan to suit our needs. But do you take the same care over personal loans insurance. Loan protection insurance is offered by the loan provider and they get a nice juicy commission if you take out one of these plans. The policies are rarely good value for money as they know most people do not shop around for loan protection insurance.
By spending just a short amount of time you can save considerable amounts of money by searching for cheaper loans insurance.
Loan payment insurance, or loans insurance, protects the personal loans repayments in the event of accident, sickness and unemployment. Benefits payments normally last for a maximum of 12 months.
It is possible to save around 50% on the cost of personal loans insurance by taking out a loan protection insurance plan which is independent of the loan. Personal loan companies cannot make you take out their loan policy so you would be wise to look for a cheaper alternative.
Many personal loan insurance policies have the premiums added to the amount you borrow, increasing the overall cost and interest is charged on this extra amount. The loans insurance we offer has monthly premiums, payable by direct debit so you know exactly how much it costs.
Take a moment to review our policy to see what good value it is. Full details are available online where you can quote and buy securely online. http://enhancedwealth.co.uk/asu/loanprotect/index.htm