Why use Gocompare.com for your money products?
By their very nature financial products are complex and the prospect of reviewing your money matters can be quite daunting. But our research shows comparison sites are helping people become more money conscious and feel more empowered when making financial decisionsJohn Miles, Gocompare.com
Why choose Gocompare.com's loan protection insurance comparison service?
With the help of PMI Partners you can compare loan protection insurance quotes in one quick and easy search.
If you feel you need more information before making a decision, try our FAQs on loan protection
Our simple-to-use forms will ask for your basic personal, contact and employment details, whether your job is permanent, and your monthly income. You will also be asked if you're a smoker, and whether in the last 12 months you have been seen by a doctor, been treated by one, or arranged to see one.
The final section concerns the policy itself and will ask if you require cover for accident, sickness and unemployment, just accident and sickness, or just unemployment. The form is automatically set to cover mortgage payments, but there are alternative options to protect income, loan payments or rent payments, so just tick the loan payments box. You'll then be asked to enter how much loan cover a month you would like- you can choose from £100 up to 50% of your earned income, capped at a maximum of £3,000.
Our best-buy table will present the cover options with the name of the insurer, the monthly benefit available, the length of time you would have to wait after you stop working to the first payment (between one and 90 days), the maximum benefit period and the monthly premium. There will be a link to view the key features of each product, and the option to either request a call back or to go ahead and purchase online.
If you feel you need more information before making a decision, try our income protection guides and our frequently asked questions on loan protection. There you can read about the basics such as whether you need loan insurance, how long policies pay out for, and how to find the right product for your needs.
Learn about different types of features such as accident and sickness cover, hospitalisation cover, life cover and unemployment protection, and find out about typical exclusions and the other factors you should look out for.
Did you know…?
- In October 2011 the UK credit card debt was approximately £56.5bn and the average standard interest rate being charged on them was 16.73%