Is Loan Protection Insurance Right For You?
A loan protection insurance can definitely help you out. It is right for you. But read on to find out why!
A loan protection insurance plan is designed to help you keep you safe from getting defaulted whether you go through a sickness or injury disability. It provides much-needed support and can help you avoid the stress and burden of a loan at all times of distress.
How does loan protection insurance work?
A loan protection insurance essentially hands out every month or a pre-determined amount as a lump sum to help a policyholder pay off their monthly debts without a problem. These usually last for two years to age 65 and can be made use of depending on the policy plan and the provider.
Who is eligible for loan protection insurance?
Anyone between the ages of 18-59 who have worked for a defined number of hours per week is eligible for loan protection insurance. Even self-employed individuals can apply for it granted they have a valid proof of ownership and business documents for a given period of time.
The burning question: Is it right for you?
The kind of plan you select and the way you structure it and can help you really determine whether it will be beneficial for you.
A well-thought-out policy can help you get the right coverage and even help boost your credit score since you will be making monthly payments even without having an income. This helps you stay on top of everything.
With some lenders, it can even help lower your insurance rate.
So, if you are looking for something that will protect you and your family from the risk of loan default, a loan insurance protection plan is the right choice.
Connect with Harpreet Puri to secure your protection plan today!