It is well known that there has been a large amount of bad press associated with Payment Protector Insurance
mostly due to the practice of miss-selling by many Banks and Finance Providers. This has meant that many purchasers were left with products that they either did not require, were ineligible for or alternatively paid a higher premium compared to other products available on the market.
Although the majority of the bad press has been justified the back lash and mass cancellation has left many
consumers dangerously underinsured and unable to meet their financial commitments in the event that they suffer an accident, sickness or loss of employment.
As a result of this more and more Insurance providers are turning to Lifestyle Insurance Protectors, Lifestyle
Cover is based on providing a monthly benefit payment which is linked to your level of income rather than a specific credit agreement, such as a mortgage or loan. This means that cover may be arranged to protect multiple commitments, such as, mortgage repayments, rent, utility bills, loans and credit facilities.
This cover can be arranged for a monthly or annual premium, and a monthly benefit is paid for up to 12 months,
should you not be able to work due to an accident, sickness or involuntary employment. These products provide the consumer with a single product which can be used to cover multiple commitments whilst at the same time allowing the consumer to decide the best product provider and the added assurance that the insurance can be cancelled at any time without penalty.
The question will be can these products restore faith to consumers, that when sold correctly these policies can
add financial security during what can be stressful and worrying times.
Express Mortgage Solutions
Complete waste of time.
Make sure you have at least 6 months of savings to pay the mortgage
Borrow as much on the credit cards as you can and just don't pay them if you can't
Use money to pay mortgage.
Obtain 2nd charges or interests in favour of parents for any amount you like, say £200000.00
This so credit cards can't put a charge on the property as there is no such thing as unsecured credit.
Or even if they do they could never force a sale as the 1st and 2nd charges need to to be paid first.
Remember these Protector policies can prevent you receiving benefit especially if the monies are paid to you direct
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