Our Loan Protection Insurance Policy benefits

If you have a loan you need protection so you need insurance. We can offer a loan protection insurance policy for UK residents - one of the best available for personal unsecured laons. The policy is very reasonably priced and the cover gives you the option of accident and sickness only, unemployment only or combined accident, sickness and unemployment cover.

For a free loan protection insurance quote and immediate cover you must use this link

A Key features document is available here

The policy wording is here

Or you may wish to contact us on  0870 7456247.

(You must take out this policy on-line.)

More loan protection insurance information - about mis-selling

A lot about loan protection has been written in the press, specifically about large organisations mis-selling the product. The high commisisons earned by these organisations and the bonus payments made to staff who sell the products has resulted in many policies being mis-sold i.e.to people who either did not want them or who could not qualify for payment e.g. because they were too old, had medical conditions or were out of work or in short term employment.

This resulted in a general complaint being put in to the OFT by the CAB and 'Which' - with a lot of negative publicity about the policy. This policy, however can be very useful. For the right person it provides security in knowing that should they lose their income then at least one major debt won't be hanging over their necks. we should point out, however, that this policy does have a limit in that payments are restricted to your monthly repayments and it is almost certain that you may have other commitments that you should consider. We can therefore offer additional products to help you protect your expenditure.

These are known as income or mortgage policies. A full list can be found here. It is quite permissible for you to take out more than one policy providing that the total benefit is only a certain percentage of your income - typical values are 50%. In theory we could arrange up to £3,500 per month!

If you don't want our advice you can apply for all three types of policy online. As well as the link above, the other policies can be applied for by using the application forms Here

Key Features
Monthly Premiums
Unemployment only or Accident/ Sickness only 

£2.50%
Combined Accident, sickness and unemployment £4.00%
E.g. £500 repayments would be £12.50 or £20.00 per month respectively
Excess
  • NIL - First payment is made on day 31 to cover days 1 - 30
Initial Exclusion Period
  • 60 days - unemployment claims will not be paid if your job loss is announced in the first 60 days after taking out the policy
Maximum cover
  • £1000 per month or your repayments
Qualifications
  • You must be between 18 and 60 in full time work
Benefit period
  • 12 months

About us

B. Portwood & Co Ltd are based in  North-east England (UK) and have three offices in Gateshead, Consett and Bishop Auckland. We have been in business for 40 years, been regulated by the IBRC (and could call ourselves brokers), are regulated by  the Financial Services Authority for the arrangement and administration of non-investment insurence contracts.

We have always acted in our client's best interests and fully intend to keep on doing so. Our aim is to provide the cover you deserve

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