Loan payment protection insurance has never been more relevant to society than it is at the moment. It is a fact that the UKs population as a whole has never been more indebted than it is right now. More and more individuals are accumulating debt as a direct result of spending beyond their means and facing up to the consequences of their actions later.
However, debt may not necessarily come as a result of over-spending. It may simply be that individuals have to run up debts in order to survive as a result of the gulf between the cost of living and the actual level of earnings. Christmas is a prime example of a time of year when many families take out loans in order to pay for their celebrations. What if an individual lost his or her job though? How would the debt affect his or her life then? That is where loan payment protection insurance becomes an appealing prospect.
Loan payment protection insurance is designed to make monthly repayments on a loan should the individual in debt lose his or her job via redundancy or be unable to work as a result of long term illness. These loan payment protection insurance policies provided tax-free payments, typically for up to...
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