KIRSTY APP - The Need For Insurance On Credit And Borrowing

No survey of insurance for women would be complete without mentioning the insurance cover offered when you take out a loan or commit yourself to a large hire-purchase or credit-sale transaction.

Consumer credit has reached new heights with the recent boom in spending, bringing with it an inevitable increase in the number of those who find themselves in serious financial difficulty because of misfortunes such as redundancy, illness, family break-up and so on. Repayments which seemed easy to maintain while everything was going well suddenly become impossible when they are going less well.

Britons are £900 billion in debt.

Even if you cannot foresee ever being afflicted by misfortunes that could affect your financial situation, you should consider taking out insurance cover so that the repayments can be continued if you are unable to make them. But here is a word of warning: check very carefully the exact extent of any insurance cover you are offered, and make sure you know, where you stand. In many cases insurance cover will last only for six months following loss of earnings through redundancy. This gives you some breathing space but at the end of that period you will be on your own again.


The Need For Insurance What If Things Go Wrong?

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