Is it a good idea to take out loan insurance? i've just been offered a homeowner loan with a company called First Plus and they have offered insurance as part of the deal to protect my repayments. Ive just been searching this type of insurance on the net and have found loads of sites slating it!! What should I do???

Dont care what anyone says, loan insurance is a good thing. Just make sure you read the small print before signing on the dotted line to make sure your covered under the circumstances that you need to be. And before you ask, no i dont sell this insurance for a living just have very good personal reasons to support it.

For me also, loan insurance is beneficial.

Hi,
Loan insurance is excellent as a back up plan on which to rely if you should suffer the misfortune of an accident that was to keep you from being able to work. It would also provide you with the sum you insured against if you were to become ill and were not able to go onto work and it would also payout if you fall to the statistics of unemployment.

Thanks
Loanlady groo

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