Q: Hi, I’m enquiring for a unemployment insurance plan for my personal loan of £11500 which should include illness, unemployment. I would need it for 5 yrs and I would be grateful if u could let me know what would be my monthly payments and I need a suggestion whether I can cancel my payment protection plan with my current bank.
A: To be able to quote we would need to know your monthly loan repayment, or the amount you wish to insure monthly and your age as this is an age related product.
The payment protection insurance policy that we provide is a monthly contract. If you were to make a claim the maximum claim period is 12 months.
Do not cancel your current policy until you know you have been accepted for a new one.