The cost of getting loan repayment protection on a £17000 unsecured personal loan over 36 months is an extra £90 per month! Surely there must be cheaper alternatives to this that offer the same cover benefits.
Can you get covered after you have started making repayments?
2006-09-13 07:18:39 · 6 answers · asked by David 1 in Business & Finance ➔ Personal Finance
Look mate I price this insurance for a large bank and we do charge a lot more than independent insurers.
These people are probably the cheapest you'll find - I think you'll be amazed at how cheap they are:
www.paymentcare.co.uk
And yes you should be able to apply for cover even though you have already repaid some of your loan.
2006-09-13 07:32:05 · answer #1 · answered by Young Man 3 · 0⤊ 0⤋
A lot depends on the laws in your country. If the insurance is already instituted into the contract, it may be difficult to cancel it. You have to read that portion of your contract carefully to see what the cancellation procedures are, if any. If you do cancel your policy, your contract will have to be rewritten. Your financial institution will do that for you.
The quickest way to get your answer is to call the company that loaned the money in the first and ask them, but don't just take their word for it. READ YOUR CONTRACT! The insurance company should have provided you with separate terms and agreements as well.
Good Luck
2006-09-13 07:30:31 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes. There are a number of insurance companies that offer this benefit.
Look for Independent Financial Advisors in Yellow Pages and ask them for somthing that's appropriate for your needs.
2006-09-13 07:21:23 · answer #3 · answered by stafflers.t21@btinternet.com 3 · 1⤊ 0⤋
Check on moneysupermarket.com. I think you can as long as you know of no reason why you would be out of a job for the term of the loan.
2006-09-14 01:46:54 · answer #4 · answered by scallywag 4 · 0⤊ 0⤋
check with your insurance company. I got mine through state farm insurance. they had the best rate I could find.
2006-09-13 07:21:53 · answer #5 · answered by setter505 5 · 0⤊ 0⤋
read tips on loans that will help you more on this site
2006-09-13 07:19:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
Sometimes you can get covered.
2006-09-13 07:19:46 · answer #7 · answered by Anonymous · 0⤊ 0⤋