Insuring your loans
Article Abstract:
Credit insurance will meet the cost of loan payments where necessary, but often only for a limited period, and may not be worth the high premiums involved. Compulsory redundancy is covered by all policies, and many also give life assurance for both employees and the self-employed, but voluntary redundancy is very rarely covered, and the policy is most commonly linked to a specific loan, so the policyholder is unable to choose the best deal. Consumers with other sources of income may not require credit insurance at all, and care should be taken to check factors such as waiting periods and the length of time the policy will be in force.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1992
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Insuring against redundancy
Article Abstract:
Redundancy insurance offers cover if you are unable to work due to disability, redundancy or if a business goes into liquidation, and usually the maximum monthly benefit is limited to 1,000 pounds sterling. Lenders and insurers have increased premiums and reduced the cover offered during the past three years, as the unemployment rate has risen over 75%. A survey of lenders including Abbey National, Barclays, Bristol & West, Cheltenham & Gloucester and TSB, showed that all the lenders, apart from Barclays and Nationwide, have reduced cover, and all the lenders increased policy premiums by more than the cost of living.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1993
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Coping with redundancy
Article Abstract:
Advice on what to do if you are made redundant includes asking for help from any union, trade or professional body you may belong to, asking for writen confirmation of all details, and going to an industrial tribunal if you and your employer cannot agreed on legal rights. The minimum legal entitlements are listed and advice on how to negotiate a deal is given. Ways of finding a new job include the local Jobcentre, or starting your own business. Warnings are given over financial advice, which was found to be very bad, misleading or biased.
Publication Name: Which?
Subject: Consumer news and advice
ISSN: 0043-4841
Year: 1993
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