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- Major Illness Cover - |
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There are several ways of protecting yourself when you take out credit, including involuntary unemployment cover and payment protection insurance. These are, however, measures that are helpful only when the loss of income is temporary. There is often a maximum duration over which the borrower is covered, after which she must find the repayments as before. Major Illness Cover, on the other hand, covers an illness (and sometimes an accident) from which it is unlikely that the borrower will fully recover enough to resume work, and the borrower will usually have the whole outstanding balance paid off, subject to medical confirmation.
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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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Licensed credit broker authorised by the Office of Fair Trading. Registered members of CFB, FISA, FSA, Data Protection Act 1984 |
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| Processing by LL Processing (UK) LTD, Intec 4, Wade Road, Basingstoke RG24 8NE |
© 2007 LoanLine - Major Illness Cover |
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