Unemployment protection can be taken to insure a pre-agreed sum of your monthly mortgage or loan repayments or a pre-defined amount of your monthly income against the fact that you might become redundant. The sum of money that you insured for your chosen policy would be the amount that you would receive back if you needed to make a claim. You would get the income tax-free for the period defined by the provider in the terms and conditions.
If ethical payment protection specialist British Insurance was your chosen provider you could take out mortgage payment protection to ensure you would have some money coming in towards maintaining your mortgage repayments. You would also save up to as much as 40% on the premiums. The income the policy provided would go a long way towards ensuring that you did not fall into mortgage arrears and be at risk of the lender having you evicted if you could not catch up.
British Insurance also offers loan payment protection to provide a sum of money towards your loan repayments for up to 80% less than the high street lenders quote. You would not have to worry about falling behind on the repayments and having this affect your credit rating. You would also not be at risk of repossession if the loan was secured nor have to worry about making an agreement to catch up on the missed repayments.
You could secure money towards any essential outgoings by taking income payment protection with British Insurance for competitive premiums. With the income provided by the policy you would be able to use the money for anything you wished and would not have the worry of making drastic cutbacks which could affect the whole of the family.
Unemployment protection from British Insurance would come with no excess as they offer to back date the protection to the first day of you becoming unemployed. They would payout on the protection from day 30 and would supply your income each month for up to 12 months if you remained unemployed for that long. If you checked other provider’s quotes you would also have to read the small print as some providers might offer protection that continued paying out for up to 24 months. You also have to be aware that some providers might extend the date when you can claim and with some this could be as long as 90 days.
Unemployment protection with any provider would come with some exclusions. Ethical British Insurance adds in few exclusions but others could add in many more. It is essential that these are checked against your circumstances before you take on the policy as they could stop you from claiming. British Insurance provides you with the information needed to check suitability on their website before you take out the protection.
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