What is Payment Protection Plan?

sandeep kumar

A Payment Protection Plan is an insurance cover you would normally take out when you apply for a loan in order to have peace of mind because no matter how healthy you feel today, nobody knows what lies round the corner tomorrow. Nobody is immune from unemployment or illness, which is why Payment Protection Plans are offered as a means of protecting loan payments.

We can provide both credit life and credit disability coverage on most loans, depending on your repayment schedule. You may enroll for both coverages or choose only the credit life insurance coverage.

Payment Protection Plan cover can be added to your loan giving you peace of mind and security of knowing that - in the event of any unforeseen circumstances - your financial commitments are protected.

In cases of a joint loan application, a joint Payment Protection Plan can be offered then you and your partner will both have the reassurance that if either of you should be faced with redundancy, illness or have an accident, your repayments will be made for you.

Protect your loans and your assets. With Credit Life or Disability insurance, you will be protected from having to make your loan payments in the event of a disability or your loved one's death. Credit Life insurance is designed to pay off the loan if the borrower dies. Credit Disability insurance is designed to take over the loan payments if the borrower becomes disabled and cannot work. If you purchase the insurance at the time you complete your loan, you will be able to finance it in the loan. It is a minimal cost to assure you peace of mind if something should happen. You and your family will rest easy knowing you won't have to worry about making your loan payments.

Benefits

The Back to Work service, which is confidential and independent - allowing you to get expert advice on dealing with redundancy, seeking work and changing careers. As well as advice on what state benefits you are entitled to.
It could pay the outstanding balance off in the event of your death.

Unique Features

No restrictions regarding occupation or travel.
Your benefits will be paid in addition to any other insurance plans you might have.
The cost for the plan is conveniently included in your monthly loan payment

Exclusions and Limitations

A loan with scheduled repayment term in excess of 120 months is not qualified for coverage under this plan.
You must not have reached your 66th birthday on the effective date of the insurance certificate issuance.
Only ONE debtor, who must be working at least 30 hours per week, can be insured for the disability credit coverage.
The plan will not cover disabilities caused by (1) an intentionally self-inflicted injury or (2) certain pre-existing conditions.
Death resulting from suicide in the first two years of coverage, from war or from special hazards to which a person in military service is exposed to in the line of duty, will only result in a refund of the unearned premium.

For more information on Payment Protection Plan visit at http://www.halfvalue.com and http://www.halfvalue.co.uk.

Sandeep kumar sandeep@gmail.com

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