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- Involuntary Unemployment Cover - |
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There's not a single working person in the country who can claim absolute job security or, as used to be the phrase, "a job for life". To add a level of security, many lenders offer Involuntary Unemployment Cover. There is usually a maximum period (say, six months), but during that time the unemployed worker's repayments will be made by the insurer. Cover does not have to be provided by the lender - there are independent companies offering it - so it pays to look at various deals. The "involuntary" part of the arrangement is important to note; if you get sacked for a breach of company rules you may not be covered.
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Use our layman jargon buster to decipher other key industry terminology.
A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
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| Think carefully before securing other debts against your home. Your home may be reposessed if you do not keep up repayments on your mortgage or any other debt secured on it. Loans secured on your home. |
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© 2007 LoanLine - Involuntary Unemployment Cover |
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