Mortgage Payment Protection Insurance Provides Home Security

By Simon Lance Burgess

There are a few different types of insurance protection for consumers looking to protect themselves against missed income from the loss of a job due to redundancy, illness, or accident. The basic type is usually either mortgage or loan payment protection insurance or a salary income payment protection plan. Brits must examine their own financial situation and needs, as well as the unique benefits of different policy types, when deciding which coverage is right for them.

Although many of the benefits are similar, the basic difference between mortgage payment protection insurance and salary protection coverage is that mortgage coverage provides relief for those needing to meet monthly mortgage payment demands. Income protection, however, is intended to help offset some of the lost income that people rely on to meet basic budgetary requirements from month to month.

Typically, mortgage payment protection insurance policies offer a higher payout percentage, based on the covered person's normal monthly income. A mortgage cover, for instance, may allow coverage up to 65 per cent of income, while an income protection plan may only allow coverage of 50 per cent of the lost income. This means, of course, that premium costs are higher for the mortgage protection, or the higher payment protection policies.

Consumers need to keep in mind that payment protection policies are short-term in nature. Often confused with long-term income protection insurance, payment protection insurance is short-term, typically providing 12 to 24 months of monthly payments. Payments begin thirty to ninety days after a covered event, which must occur for the coverage benefits to kick in.

The payment protection insurance (PPI) industry has come under heavy scrutiny. It was targeted in 2005 by Citizen's Advice, a consumer group, for mis-selling practices and questionable sales techniques used by some leading banks and lenders and is now in the hands of the Competition Commission.

Many providers have been charged with selling policies to customers who are ineligible to receive payout benefits, such as part time employees and retired people. Others believe that, while not necessarily illegal, providers that have packaged payment protection plans with mortgages, credit cards, or other loans, have unethically deceived consumers. Institutional providers generally offer premiums 40-80 per cent greater than can be attained from more reputable insurance brokers or specialists. They also tend to have a greater focus on lining customers up with the appropriate protection. For large institutions, payment protection is often considered simply an add-on product.

Consumers can put themselves in the best position by knowing the right questions to ask when looking at mortgage payment protection insurance products. They should avoid feeling pressured to by from mortgagers or credit card companies, but should look to brokers or specialists to learn about plans and explore benefits and terms of each. In spite of attempts by regulators to more thoroughly protect customers, there will always be some unscrupulous providers looking to take advantage of the unknowing consumer.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage payment protection insurance.

Mortgage Payment Protection Cover Could Save Your Home

By Simon Lance Burgess

Brits need to become more aware of an insurance protection that can help them keep up with monthly mortgage payments and other obligations, in the event of job loss. With high foreclosures and delinquency projected by some for the 2008 housing and mortgage market, it is important that people find opportunities to protect themselves when possible. Mortgage payment protection cover is an insurance product that is relatively low cost, but is often overlooked, or misunderstood by Brits.

The main reason many are unfamiliar with the protection and its benefits is that common providers of the insurance, large banks and lender institutions, are somewhat deceptive in their sales practices. They sometimes package the insurance with new mortgages or credit cards, and often give the impression to borrowers or customers that the insurance is a required or necessary part of the purchase. Most importantly, they do not let customers know that there is another option for them.

Insurance specialists or brokers are a great resource for customers looking for mortgage payment protection cover. They are generally more knowledgeable about the benefits, terms, and options available from the protection. They are also more likely to be concerned with the best interests of the customer as it relates to this particular cover.

Surprisingly, many Brits are not aware even when they have mortgage payment protection cover, or if they are, they do not know what its benefits are. This relates somewhat to the packaging method used by the larger institutions to sell the mortgage protection insurance. They often do not mention the coverage is added to the mortgage or loan, in spite of its high premium costs. When they do, they often imply that it is required to be purchased as part of the other loan product.

Mortgage protection is one of three basic payment protection insurance products available to full time employees. Retirees and part time employees are not eligible to receive payment benefits, although some institutions mis-sell the coverage anyway to these groups. The other short-term protection options are for loan and salary protection. Either option provides a monthly payment based on a predetermined percentage of normal income. Payments run from 12 to 24 months and begin 30 to 90 days following a covered event.

In February of 2009, the Competition Commission is expected to release the results of an investigation into the controversial sales practices some insurers have engaged in within the payment protection insurance industry. The results should lead to more protection for consumers, while the current business environment is more advantageous for sellers of the insurance.

Mortgage payment protection cover is a great opportunity for home owners and heads of households to provider for the financial well-being of families in the event of job loss. Brits cannot rely on State-based aid to sustain them. They must look to protect themselves. Insurance brokers typically offer the payment protection plans for 40 to 80 per cent less than institutional providers. They are also experts in understanding the needs of consumers and matching those needs with the right coverage and benefits.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage payment protection cover.

Mortgage Payment Insurance Covers Involuntary Redundancy

By Simon Lance Burgess

In the event of involuntary redundancy, illness, or accident, leading to a loss of income, Brits can rely on savings, the State, or low cost mortgage payment insurance from a broker or insurance specialist. For those that do not have savings to cover monthly mortgage payments, and understand relying on the State might be a lost cause, mortgage payment coverage is a practical option. The problem is that most consumers either are unaware of the benefit of buying the insurance from a specialist, or already do buy the insurance, at high premiums, without even realizing it.

Mortgage payment insurance is one of three basic types of payment protection insurance (PPI), the others being loan and salary protection covers. There are some slight differences in benefits and terms from one provider and one product to the next, but the general concept of the product is universally the same. The insurance provides monthly income payments to the insured, which begin from 30 to 90 days following a covered event. Some covers are backdated to the first day of protection.

This short-term insurance protection is sometime confused with longer-term income protection, as they are often known by similar names. The difference is that mortgage payment insurance payouts are intended to provide a short term payment period, typically 12 to 24 months, to help the insured get through a short stint of unemployment caused by one of the covered events. Income protection is more of a long-term payment plan.

The difference between the three coverage types, mortgage, loan and salary, is that mortgage usually has a higher allowable payout percentage, at a higher premium, of course. Payout for mortgage coverage is often up to 65 to 70 per cent of normal monthly income, while salary protection is more like 50 per cent.

Unfortunately, many Brits are so unfamiliar with the insurance that some have the protection but do not know it. Some know they have it, but do not realize its benefits or that there may be more affordable premium options and better service available. The Competition Commission is currently in the midst of a major investigation with results set to be announced in February 2009. Their research could lead to stronger regulations for providers and better consumer protection.

Many banks and large lenders package the insurance with other products in a manner that is deceptive or pushy for the consumer. Consumers need to know that there are stand alone brokers who specialize in insurance and are more knowledgeable about plans that are right for particular consumers. They also have options that are commonly 40 to 80 per cent lower than what institutions offer.

It is important that consumers go into any loan or finance purchase with their eyes open. Brits should always read the fine print to be sure products and insurance products are not thrown into their loans. Mortgage payment insurance is great when it is purchased at low cost from a reputable provider. It can be a rip-off when purchased from a less reputable provider not out for the interests of the customer.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage payment insurance.

Mortgage Payment Cover For Your Families Needs

By Simon Lance Burgess

Brits need to be aware that there are great opportunities for low cost insurance that can help provide for monthly mortgage payments in the event of a loss of income. Mortgage payment cover is one of three basic types of short-term income payment protection in the event of involuntary redundancy, illness, or accident. The other types include various forms of short-term loan and salary protection. All of these covers essentially provide monthly income benefits, based on a percentage of normal monthly income, for up to 12 to 24 months of unemployment caused by a triggering event.

Involuntary redundancy, which is forced job loss, as well as illness and accident, can leave Brits wondering how to meet their monthly mortgage payment demands. Mortgage payment cover is a great peace of mind. It typically provides monthly payments up to 65 per cent or so of the normal covered person's income. Mortgage protection usually has a slightly higher premium, but also a higher allowable percentage of income allowed for coverage.

The sad truth, however, is that for many people covered by mortgage payment cover, the benefits are not even known, and the premium payments are often more than necessary. Surveys indicate many consumers covered by the insurance are either not aware they have it, or are not aware of its benefits, or their premium payments.

The reason behind the confusion is that many people carrying the protection bought it unknowingly, or naively, from a large bank or lender. These large institutions have a reputation for packaging the payment protection insurance (PPI) products with other primary loans, such as mortgages or credit cards. Some note the coverage and premiums in the fine print of the documents included with the primary finance product. Others explain the insurance to consumers, but do so in a way that puts pressure on them to buy, or suggests it is necessary to buy in combination with the other product.

The Office of Fair Trading (OFT) and Financial Services Authority (FSA) are even looking into potential mis-selling by some institutions. Consumer advocate groups, such as Citizen's Advice, have been very critical of the selling techniques used by some providers. They suggest that tactics are, at best, manipulative, and at worst, unethical or even illegal. Some insurers are selling the products to customers that could never receive benefits based on the full time employment requirements for pay out.

Customers need to look to specialists or insurance brokers for lower cost terms and more expertise about the products. Before consumers will do this, though, they must be informed about what the insurance is and the traditional sales methods used by banks. They need to be mindful of the product before looking for a mortgage or credit card. To get the low cost benefits of the product, including security and peace of mind, they need to seek out plans available through knowledgeable specialists.

Mortgage payment cover can be a great insurance product when purchased under the terms and conditions desired by the customer. This is why insurance brokers are more useful than the more questionable banks and lenders who sell the products. Customers need to educate themselves.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage payment cover.

Mortgage Insurance To Protect Your Most Valued Asset

By Simon Lance Burgess

It is believe that only about one in every four people has a mortgage insurance protection plan to cover their mortgage payments in the event of a short-term job loss. This is in spite of the fact that the State does not offer financial assistance to the unemployed for nine months, generally. Mortgage cover is a way for many to protect their homes by paying small monthly premiums to cover job losses due to involuntary redundancy, illness, or accident.

Part of the reason that a small percentage of home owners currently have protection is that many are uneducated on the benefits of the insurance, or are unfamiliar of how it works. Amazingly, even though a small percentage of home owners are covered, research also shows those that do have a plan are often not even aware of it, or do not understand its benefits.

A big reason for the lack of knowledge in the mortgage insurance industry is that for years, much of the plans sold were provided by large institutions, such as high street banks and lenders. Keeping a limit on the amount of information customers had about the products was a part of the strategy for several of these companies. Many banks either hid the coverage in the fine print of disclosures and sold it in combination with mortgages, personal loans, or credit cards, or used manipulation or pressure tactics.

As consumer advocate groups have been putting more and more pressure on the Financial Services Authority (FSA) and Office of Fair Trading (OFT) to produce more consumer friendly regulations, consumers have become more knowledgeable. Many consumer groups are attempting to educate consumers on their options. They want them to learn before buying loan products, what the common selling tactics are. It is also important for consumers to read the details and fine print of financial services or loan products before agreeing to terms or signing contracts.

Brokers and insurance specialists have a better reputation than the larger sellers. They generally offer premiums that are 40 to 80 per cent lower than those offered by most banks and lenders. This cost savings can make a huge impact on the value proposition for customers exploring their coverage options. Brokers are usually helpful at lining up customers with the best benefits available, and fewest coverage exclusions, based on the customers indicated needs and requests.

Mortgage insurance plans are part of the umbrella of income payment protection products. These are short-term insurance plans that typically offer monthly payments ranging from 12 to 24 months. Longer-term plans are usually covered under other product categories, including income protection products. Payment amounts vary depending on the customer's needs, budget, and allowable cover. Coverage limits are based on monthly mortgage amounts and normal incomes. Most mortgage payment protections offer full mortgage coverage with some extra money for additional expenses. Some plans are based on a percentage of monthly income. Obviously, the more coverage required by the customer, the higher the premium cost.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage insurance.

Loan Protection To Dig Out Of Debt

By Simon Lance Burgess

With average credit card debt and non-mortgage debt on the rise in the UK, it is more important than ever for Brits to consider the benefits of short-term loan protection. Loan cover is one of a few types of short-term insurance protection that falls under the umbrella of payment protection insurance (PPI). It helps injured, ill, or forcefully unemployed people meet their monthly debt obligations in lieu of an income. Since the State removed itself from supporting borrowers faced with unemployment, it is up to consumers to protect themselves and their assets.

Typical loan protection plans cover either 1500 pounds of debt each month, or 75 per cent of the individuals normal monthly income, whichever is lower. While this does not necessarily provide for all of a person's monthly living needs, most can make up the difference from supplementary income, savings, or other insurance plans provided through their employer.

Loan protection is not designed to provide long-term benefits. Its advantages in terms of value are much greater for one to two year plans. Premiums rates can be as low as a few pounds per each hundred pounds of cover. Independent brokers usually offer premium rates that are 40 to 80 per cent lower than those offered by traditional institutional providers. Brokers also maintain a better reputation for ethical and fair business practices, and customer service and support.

In 2005, Citizen's Advice, a leading British consumer advocate group, submitted a super complaint to the Office of Fair Trading in support of many consumers. The complaints alleged several questionable business practices were being used by members of the PPI industry. Specifically, many high street banks and lenders were charged with selling products to customers that were ineligible to receive payouts from the plans. Retirees and part time employees do not receive protection under payment protection insurance as it is for full time employees that become unemployed.

Along with these unethical practices, others suggest that these institutions are not maintaining the interests of consumers. They often package the loan cover with mortgage or other loan products in order to enhance customer premiums. They typically charge much higher premium rates than independent brokers can provide.

The key for consumers is to become educated on their needs and to look to specialists for the most important cover. Recent surveys show that the typical Brit is either unfamiliar with the benefits of the protection, or even worse, some covered individuals do not even know that they are covered by the protection. People must take charge of their own situations and not rely on the State, or large providers to meet them.

Loan protection can prevent horrible financial burdens for people who do not have adequate savings. Ideally, one would never have to receive the benefits of protection. However, for a small premium rate charge by a broker, it is worth considering protecting one's financial security and the well-being of the household. This is perhaps one of the greatest investments an individual can make during his or her lifetime.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan protection.

Loan Protection Insurance For Broad Short-Term Cover

By Simon Lance Burgess

Within the payment protection insurance (PPI) industry, there is much similar and overlap between the three common types of coverage. Loan protection, mortgage protection, and income protection payment covers are all somewhat similar in terms of the benefits they provide. However, there are some definite advantages available from loan protection insurance that are unique compared to the other umbrella payment protection covers. Perhaps its strongest comparative advantage is that plans usually allow coverage up to 75 per cent of normal income, or 1500 pounds, which ever is lower. Mortgage protection and income payment plan covers are usually a bit lower.

Other advantages include that loan protection insurance typically includes a death benefit to make the coverage a bit broader. PPI products provide protection to covered people in the event of involuntary redundancy, illness, or accident. Long-term health plans generally make no mention of unemployment. The State also does not provide any or enough assistance for unemployment. Loan protection is intended to help covered people meet monthly debt demands and up to 25 per cent of other expenses. This is great financial security for Brits in a time of financial need.

Loan protection insurance also usually provides hospitalisation benefits and carer benefits. Home and auto debt, as well as personal loan and credit card debt can be overwhelming for employed people. Imagine the stress related to trying to meet monthly demands when unexpected unemployment occurs. Unfortunately, many people do not have adequate protection. Given that housing and mortgage markets are already headed for struggle in the coming years, it is especially important that people do what it takes to protect themselves from covered events.

Payouts for loan cover are monthly, for 12 to 24 months, depending on the plan, and begin from 30 to 90 days following the covered event. Again, the insurance is intended to provide short-term protection. It is a not designed to be a long-term solution. Insurance brokers are great resources in helping consumers find covers for both their long-term and short-term needs. Brokers have product knowledge and customer-friendly attitudes that are great features of their plans.

Consumers need to be cautious about approaching large banks and lenders for payment protection or loans. Premiums through these types of providers are usually at least twice as much as those offered by independent brokers. Additionally, these large institutions lack some of the people and product focuses that make brokers preferable. Consumer groups have spoken about deceptive practices and mis-selling techniques commonly used by high street banks and lenders. Consumers are much better off exploring protection options through a more reputable stand alone broker.

Loan protection insurance can prevent loss of home or car, or bankruptcy for covered individuals. Premiums through brokers are very affordable and there are some common discounts that can give them event greater value. Consumers need to protect themselves against major loss, and with just a few pounds in premiums each month, they can. Terms and conditions of coverage vary by product. This is why brokers come in handy.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan protection insurance.

Loan Protection Cover Is A Financial Necessity For Some Brits

By Simon Lance Burgess

Many Brits fail to take advantage one of the best deals in the insurance industry. Independent insurance brokers offer loan protection cover as part of their portfolio of payment protection insurance (PPI) products. Loan cover is a great short-term protection against involuntary redundancy, illness, or accident. Some plans even provide payments to survivors upon deaths. Several providers even offer the same premium rates for people of all ages. This is definitely a significant advantage compared with other types of traditional health insurance.

Although, loan protection cover offers great benefits when purchased from an insurance broker specialist, many fail to uncover the great low cost options independent providers have. Some consumers are unable to look at broker benefits because they are already stuck in coverage with other providers. Others simply do not understand the benefits of the insurance or how to get it less expensively.

Typically, loan protection cover can offer monthly payments up to 65 per cent of the normal monthly income for the covered individual. This is much higher than other PPI products. It is designed to help the insured meet monthly debt demands as well as some basic monthly expenses. There are limits on total cover amounts, but the products can mean the difference between keeping and losing a home for someone forced into unemployment. Involuntary redundancy benefits are a huge advantage of PPI products, as opposed to longer-term income protection.

Premium costs from independent brokers are usually about 40 to 80 per cent lower than high street banks and lenders traditionally offer. The institutional sellers often package their plans with other loan products, like mortgages or credit cards, in order to expand their customers' protection portfolios. This is considered deceptive and even unethical by some consumer groups. Customers can also save money through some specialists by getting joint accounts. Many brokers also offer the advantage of secured online quotes and enrolment processing. These are both great conveniences to consumers.

Brokers are also knowledgeable about the protection plans they offer. Some larger sellers are too busy with the multitude of financial products and services they manage to treat each product and each individual as a unique situation. Brokers, on the other hand, are very customer-focused, and specialized brokers typically offer services and support not available from larger sellers. It is important that prospects protect their own self interests when looking to a provider.

Brits cannot rely on the State for unemployment support. The State has reduced assistance to the point that very few people qualify for any assistance, and those that do must usually wait nine months or so before receiving payout. Payment protection products usually begin payments 30 to 60 days after the date of enrolment. Loan protection cover is paid monthly over the course of 12 to 24 months with most plans. It affords covered people the opportunity to focus on their health and self-care instead of stressing over financial concerns or insurance hassles. This is the peace of mind that insurance is intended to provide.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan protection cover.

Loan Payment Protection Is A Great Unknown

By Simon Lance Burgess

Loan payment protection is a short-term insurance cover that pays up to 75 per cent of normal monthly income for covered individuals. It is part of an umbrella of products known as payment protection insurance (PPI). Other related products include mortgage payment protection and income payment protection. Loan cover offers the highest allowable coverage, based on a percentage of income.

Loan payment cover is designed to provide the greatest premium to benefits ratio for short-term plans, therefore, most plans offer payment periods of one to two years. Longer-term protection is usually obtained through worked related health insurance or income protection. Typically, loan payment protection is intended to cover 100 per cent of the insured's monthly debt obligations, and up to 25 per cent of additional expenses, with a maximum total payout.

Covered events which trigger benefits under the insurance include illness and accidents, which are also covered by income protection. It also covers involuntary redundancy, which is not available under income protection products. Another nice benefit of many loan cover products is a death benefit, which is typically not available through other PPI products. This means that a covered person does not only ensure their family's financial security while they are around, they can also help by covering their surviving family's short-term needs in the event of death.

Loan payment protection, like other PPI products, is become more familiar to many Brits. For some time, people misunderstood their short-term financial options in the event of job loss. Some mistakenly believed the State would support most of their monthly needs. Others did not consider their needs in the event of an accident or prolonged unemployment. Many consumers were prey to the questionable selling practices of large institutional banks and lenders. These providers developed a reputation for deceptive selling, and even mis-selling, as they sometimes sold the insurance to unprotected people.

As consumer groups became more aware of problems, they began voicing their concerns to the Office of Fair Trading (OFT), which has since lead to a full investing of the PPI industry by Competition Commission. The clamour over the questionable business practices at high street banks and lenders has helped lead to proper credit being given to more reputable insurance brokers who specialize in the products. Brokers can usually offer premiums that are 40 to 80 per cent lower than other providers, and their independent nature enables them to maintain a greater focus on their customers' needs and best interests.

Loan payment protection can help alleviate much of the stress that is already present from prolonged unemployment. People forced out of work must begin the tedious process of looking for another job. Accidents and illnesses can lead to stressful recovery periods and an inability to enjoy one's traditional lifestyle interests and activities. By having financial security, at least covered people have the peace of mind to know that they are not going to lose their car, or their home. They can focus on recovery and looking forward to a better work experience in the future.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan payment protection.

Loan Payment Protection Cover To Preserve Your Finances

By Simon Lance Burgess

The payment protection insurance (PPI) industry offers short-term protection products to Brits who want financial security in the event of unemployment due to involuntary redundancy, accident, or illness. Loan payment protection cover is one of the primary coverage types offered by industry providers. This is a short-term product, designed to allow individuals to meet their monthly debt obligations, for 12 to 24 months, if a covered event occurs.

While many large banks and lenders have been offering loan payment protection cover for some time, many Brits are recognizing the unique advantages of buying protection from insurance brokers who specialize in coverage. Perhaps the greatest advantage offered by brokers is their reputation for more honest business practices, including product expertise and customer focus. Banks and lenders have developed a negative reputation for high pressure sales techniques that has drawn the ire of consumer advocates and lead to ongoing investigations by the Financial Services Authority (FSA).

Not only has the heightened awareness helped many people avoid over priced plans from questionable institutions, but it has given more credibility to brokers and place more emphasis on consumer education. The insurance itself covers up to 75 per cent of the covered person's normal monthly income, in most cases. This makes loan protection the highest level of protection of the three common types of payment protection insurance. Coverage typically provides for full repayment of all monthly debt obligations with a 25 per cent add-on of other monthly expenses. This is, of course, within the maximum allowable coverage for a plan.

Many loan payment protection cover products also added a death benefit, which is unique in the PPI industry. This is a nice bonus and provides greater security to surviving family members. Many people protect their homes, cars, and other assets by buying the coverage for themselves.

The payment protection products should not be confused with longer-term income protection. Income protection provides payouts up to retirement, if necessary. The benefits of the payment protections are inherently wrapped in their short-term orientation. One of the best advantages of the PPI products is coverage for involuntary redundancy, which is not covered under the income protection products.

Consumers need to educate themselves on the advantages of the various insurance products. By approaching an insurance specialist, consumers can take their needs and situation, and have them matched to the best available products and rates. In fact, as many brokers are online, consumers can often submit online data and quickly get back quotes, or comparisons of various products and covers.

Loan payment protection cover is a very important insurance product for many. The State provides little financial assistance for the short-term unemployment needs of citizens. This means that people need to look out for their own needs and the needs of their families. It is important to find a reputable provider who has great product knowledge and a customer service orientation. This can make the difference between getting appropriate coverage at the best rate, or incomplete coverage at a high rate.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan payment protection cover.

Loan Insurance is Under Utilized

By Simon Lance Burgess

As British consumers continue to borrower more and more money, it would make sense that they would also work harder to protect the assets purchased by their debt. Statistics seem to suggest this is happening. Overall, only about one third of Brits have payment protection insurance (PPI). However, about 60 per cent of new home owners have been adding mortgage cover to protect their investment. Borrowers have also been increasingly adding other common protection insurance products, including loan insurance and income payment protection.

A big reason for the increase in interest in PPI is better educated consumers. Surveys still show that many Brits do not know whether they have PPI coverage, or what the benefits are of the insurance. However, consumers are becoming more aware, thanks to consumer advocate groups and expansion of interest in broker provided insurance plans. Banks and lenders have held the industry somewhat captive, historically, by pressuring customers to buy loan insurance in combination with the loan product. They often packaged that protection with the loan, and sometimes indicated to borrowers that the loan provision was based on acceptance of the insurance protection.

Brokers offer much better service and ethical business practices. This has helped give the industry greater credibility and has painted a clearer picture to consumers of what to watch for when buying loan insurance. Consumers know that they do not have to feel pressured to buy the coverage from a bank or lender, and they also know to read the fine print of loan products to be sure premiums have not been slipped into their plan.

Benefits of loan cover include one to two years of monthly payments up to 75 per cent of the covered person's normal monthly income. Covered events include accident, illness, and involuntary redundancy. Insurance prospects may opt for any or all of the covers. Involuntary redundancy is a coverage opportunity to unique to PPI products, so even people well-covered with health insurance through work, often look to PPI as a source of unemployment protection in the short-term.

Payments usually begin 30 to 90 days following coverage application and are distributed monthly. Along with the income basis for determining coverage eligibility, plans also look to cover 100 per cent of monthly debt obligations and up to 25 per cent of additional expenses. These parameters must all fit within the maximum payout total for a plan, which is either 1500 pounds, or the 75 per cent of income option, whichever is lower.

Loan insurance is a way for debtors to protect the assets bought with debt, primarily their home and cars, but also a way to protect their financial security by not missing payments or having credit negatively affected. Consumers must take advantage of products provided by brokers and not rely on the State to meet their monthly needs. As of 1995, new home owners are ineligible for unemployment support from the State for the first nine months following the unemployment event.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan insurance.

Loan Cover Can Protect Key Assets

By Simon Lance Burgess

Brokers continue to expand the options and benefits available through payment protection insurance (PPI) products, including loan cover. Brokers have long had a stronger reputation than high street banks and large lenders, when it comes to offering PPI products. They continue to look for ways to enhance the appeal of the covers as more Brits are aware of the benefits of PPI and the availability of lower cost premium products and focused service from brokers.

Many brokers now offer payment protection insurance products that provide the same premiums to people of all ages. This is a huge advantage to people adversely affected by age with other income protection plans or work related health insurance products. Additionally, some specialist brokers offer unique discounts, including joint insurance plans, and discounts for unique occupations or other customized applicant traits.

Loan cover plans typically provide up to 100 per cent insurance for monthly debt, as well as up to 25 per cent additional funds to cover monthly expenses. There are other limits that apply, however. Most providers limit total protection to 1500 pounds, or 75 per cent monthly payments based on standard monthly income. The actual limit is the lower of these two amounts.

Many Brits remain unprotected against job loss due to involuntary redundancy, prolonged illness, and accident. Some rely on savings to cover short-term financial needs. Others make the mistake of thinking the State will provide support. It generally does not provide enough for the average person to continue living the lifestyle they have become accustomed to. Not only does loan insurance cover these events, it also usually provides a death benefit payable to survivors, and assistance for hospitalisation expenses and carer services.

Loan protection is not designed for long-term protection. Other types of insurance products cover these needs. Its advantages are very uniquely designed for short-term reasons. Payment periods for the coverage usually range from one to two years. Premiums are just from a few pounds per month per ฃ100 worth of cover. Banks and lenders generally offer more expensive premiums and use questionable selling techniques to push the products on consumers. Brokers often have covers less than half the premium cost of the larger institutions. Their benefits also are better, as is their support and service. Consumers need to understand the importance of hassle free claims service and support and look to more respected brokers, especially give the less expensive premium costs.

Loan insurance is a necessity for budget-conscious employees who rely on income to meet their monthly debt and expense obligations. It is important, though, that consumers buy on their own terms and do not get drawn into feeling obligation to buy the protection from their lender or bank. Some lenders attempt to package the insurance with the loan in a portfolio fashion, trying to hide the expensive premium costs.

To get the best value from loan cover, customers need to explore the great services and products offers available through brokers. Brokers generally want the best interests of the customer to prevail and usually advocate for their well-being. This helps the insured focus on returning to health, recovering from injury, and getting back to normal employment.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of loan cover.

Why Are Free Insurance Quotes Important?

By Sarah Dinkins

People tend to accept offers from insurance agents and do not stop to compare what other companies have to offer. Salesmen are used to manipulating and convincing. Insurance agents are not the exception. Yet, you can save thousands of dollars on insurance each year just by doing some research prior to accepting any offer. Moreover, before renewing an insurance policy, especially if it comes with a premium increase, you should also compare what other insurers' products are featuring.

Free Insurance quotes are essential for this purpose. They will allow you to compare fees, rates, coverage and give you tools to negotiate the terms that best suit your needs. Thanks to the internet, now you can receive free insurance quotes within minutes from each state of the country and foreign countries too. With just a few clicks of the mouse you can have more than ten insurance quotes to compare and decide within less than an hour.

Mandatory Policies

Certain contracts, products and situations require that you purchase an insurance to be protected and protect others from any damage. Examples of the these are mortgage insurance, car insurance, etc. Though the mortgage loan lender or the car loan lender may offer you a particular insurance policy with a company of their own, they cannot force you to do business with a particular company and you can still obtain free insurance quotes from other companies to run some comparisons and select another policy with the same company or with another one.

You should always try to get the best price possible without disregarding the coverage that the policy offers. Remember that unexpected situations always take place and that you want to be protected. Therefore a suitable coverage is more important than a few dollars price reduction. Nevertheless, you can reasonably ponder what is more important taking into account the coverage details and the amount of the insurance premium.

Optional Coverage Policies

The above insurance type can include optional coverage while other insurances are totally optional. In these cases it is even more important to compare prices. Because since there is no mandatory contract, the insurers have almost none captive clients and will compete for your business. It will be a lot easier to negotiate optional coverage policies than mandatory policies and therefore you should request free insurance quotes and contact the companies to improve the best offer you receive.

This way, you will be able to get the best deals on your insurances both in terms of coverage and price. It may sound incredible, but by renegotiating all the policies that an average American takes on an yearly basis, expert advisors have been able to save several thousands dollars just by doing some research on different insurance options and letting current insurers know what the offers from other companies have been.

If you are not comfortable addressing this issue on your own, there are professionals that can assist you with expertise on insurances. You will be able to find them by doing a quick search online for insurance advisors. Also, if you want to make comparisons and get free insurance quotes, search for no cost insurance quotes with your favorite search engine.

Sarah Dinkins is a financial advisor who has been associated with Unsecured Loans since long ago. She also holds a master degree in economics from Harvard University. To find Online Bad Credit Loans, Personal Loans, Debt Settlement Programs, Bad Credit Auto Loans, Poor Credit Mortgage Home Loans visit http://www.badcreditfinancialexperts.com

Why Identity Theft Insurance Isn't Really That Helpful

By Paul Wilcox

Personal identity theft has become a lot more newsworthy lately. Some experts say that it's receiving much more attention than it should. It has become so common in the news that there is now an insurance to cover it called personal identity insurance.

What Does It Cover?

The insurance itself generally costs about $25 to $50 per year and covers from $15,000 to $25,000 of costs including lost wages from time to taken off from your job to deal with the fraud problem. Coverage for job loss is usually capped at $500 per week for a maximum of four weeks. This insurance may also cover some legal fees.

Some insurance may also cover special mailing charges to mail fraud affidavits to the correct people. Fees for credit cards and loans that were applied for and rejected due to false information are at least partially covered.

Any long distance charges to banks etc. to discuss the fraud can also be covered.

This may seem like a good deal for the money but keep in mind a few things. Identity theft is very unlikely. The chances of being victimized are only about 0.35%. Chances are it will never happen to you.

The coverage may seem adequate but when actually broken down, parts of it aren't very useful. For example, the lost wage item sounds good but at $500 a week, it's not enough to cover what many people would be making. As well it doesn't consider that many people are unable to take time off from work.

Personal identity theft coverage doesn't fix your credit or criminal record as home or auto insurance might do. It strictly helps with the expenses so you can fix it on your own. The expenses entailed generally don't surmount $1,000 so you may find that purchasing a policy is of no benefit.

Are you looking for more tips about how you can stop identity theft? Get more helpful information about how to protect yourself from this and other online security issues at the Online Security Toolkit website.

Unemployment Insurance Program - How Relevant is it?

By Kaushik Adhikary

Loosing a job is an enormous downfall on your financial life. Your mortgage payments, insurance, car repayment and other bills payments will come at a standstill position. There is every possibility that you'll find a job that pays less than the job you left and that may be scanty to catch up on your bills payment.

Its needless to say that your state's unemployment insurance or mortgage/loan payment protection or income protection may not be enough to pay your mortgage and other debt payments. You will still need extra insurance for longer period of unemployment to protect your financial interests and for this you can consider a private unemployment insurance which are available in most states up to a $2000 a month.

If you suppose to need one, you can go for online affordable quotes. A good unemployment insurance policy can cover involuntary unemployment and going further it covers your finances in case you're disabled, laid-off or hospitalized, even provide death benefits to the decease's family.

Policies may available with some limitations or waiting periods or requiring you to qualify yourself for government unemployment benefits for processing your unemployment insurance claim. Pre-existing conditions will be covered provided that you've continued your policy for a specific period of time.

This Unemployment Insurance(UI) program, however helps counter economic fluctuations.When economy grows, UI program revenue rises through increased tax revenues while UI program spending falls as fewer employees are unemployed. It also creates a surplus of fund or a cushion of available funds for the UI program to draw on during a recession.

In recession, UI tax revenue falls and Un-employment Insurance program spending rises as more workers lose their jobs and receive Unemployment Coverage benefits. The increased amount of UI payments to unemployed workers puts additional funds into the economy and dampens the effect of earnings losses. Normally, the employees must be unemployed through no fault or lay offs.

Unemployment benefits are based on reported covered quarterly earnings. The amount of earnings and the number of quarters are used to determine the length and value of the unemployment benefit. It generally takes two weeks for benefit payments to begin. I think the major draw backs of UI program is that when you lose your job or being laid off, your employers may sometimes force you to leave your job in their vested interest.

Kaushik Adhikary operates http://www.myinsuranceinsiderinfo.com a blog all about fresh and quality content on insurance and personal finance field. He loves giving away Free Stuffs and now giving away Free 5 Days Interactive Email Course along with Free Membership and Newsletters. For more info: Visit-http://myinsuranceinsiderinfo.com/2008/01/29/unemployment-insurance-program-how-relevant

Concerning Insurance Fraud - Should We Be Alert?

By Kaushik Adhikary

Insurance fraud accounts for 10% of incurred losses and loss adjustment expenses that constitutes around $30 billion dollar a year for the property/casualty insurance industry, as estimated by the Insurance Information Institute. Actually increasing insurance fraud is posing a great cause of concern in our lives.

Fraud classified as a crime in the state's penal code. A fraudulent act is committed if information in insurance documents if falsified in order to get lower premium rate or to inflate the amount of loss. Actually any representation provides to insurer is accepted on the basis of utmost good faith.

Fraud originates at different points in insurance deals and from the service providers to policy-holders.Fraud can be in various forms such as misrepresentation of facts in claim documents, inflating the actual claim, staging false accidents, lodging claims for damages or injuries that never happened. Fortunately nearly 40 states have fraud bureaus empowering them to investigate any suspected fraud.

According to an annual report released recently by the State Insurance Department, there were 700 arrests in 2007 alone in the light of the investigations conducted by New York's Insurance Fraud Bureau, a 17% increase from 2006.The bureau received reports of about 22079 suspected fraud last year and most of these were strangely from agents.

In sting operations, targeting car lifting/thefts in New York Metropolitan and Long Island area, 26 suspects were arrested and 92 vehicles valuing $ 1 million dollar were recovered. A fraud broker for Lloyd's of London, had sold more than $ 8 million in bogus insurance contracts for bars and restaurants.

Several suspects, including a medical clinic operator were arrested in New York City and Buffalo-Niagara region for allegedly staging numerous fake accidents in Western New York.The passengers and drivers of these cars were forging claimed that they were injured and received treatment at those makeshift clinics. Interestingly in some cases, the alleged injured persons were miles away from the accident spot at the time of alleged accidents.

So far, around $ 20 million had been directed to 147 people in court-ordered restitution. Even just after the Hurricane Katrina in 2005 several cases of insurance fraud had been reported to bureaus.In those cases, some home-owners or renters policy-holders lodged fraudulent claims or inflated claims for expensive items like stereos, televisions they never purchased.

Kaushik Adhikary operates http://www.myinsuranceinsiderinfo.com a blog all about fresh and quality content on insurance and personal finance field. He loves giving away Free Stuffs and now giving away Free 5 Days Interactive Email Course and Free Membership and Newsletters.

Insurance Quotes, Do You Need More?

By Francisco Segura

It can all be in the convenience of your home while you are doing household chores or any other time you have available. Insurance quotes are very easy to obtain today if you know how to do the proper research to get them for your overall insurance needs, no matter what your specific types of insurance requirements are as a rule. There are all sorts of places to get good quotes from and these quotes are what help you arrive at the final decision as to what insurance company and or carrier to go with.

One of the best places to get insurance quotes is using the internet. Why use the internet to get insurance quotes? Because it is convenient for yourself compared to the conventional way which is either the phone or going in to an insurance office physically. Using the internet to find the best quote is relatively simple to do and allows you to gather all the information you need to make a decision. Maybe you just have 30 minutes before going to bed or when you first wake up in the mornings. The timing is great no matter what time it is. Getting insurance quotes this way is also much faster than the conventional way and there are no time constraints to get the information. You can access the information when you want to.

The conventional way is the way that does take up the most time. Because you tend to talk with an agent by phone who asks you a series of key questions or you make an appointment to go in and see an agent to relatively do very much the same thing as you would do by phone. This can be a very time-consuming thing if your time is limited, especially if you have a family. Children do not want to wait for you to give the information to obtain insurance.

When you use the conventional path, to attain a quote for your insurance needs you may be surprised at how many insurance companies prefer the new tech way of obtaining a quote. When being asked the series of questions by an agent to get a specific quote, you must be careful just how you answer each of these questions because what you say can affect your quote in some way due to the information. You should always have the information available in front of you when you go to obtain a quote to speed things up. Take a copy of your current insurance policy and the personal information of all the drivers. If this way sounds like too much work try getting quotes by going the internet route as opposed to the conventional way.

Doing insurance quotes online is not only easier, it also has many benefits and some of these are obvious. The first is that the quote that you get will be an actual amount or in the estimation of the closest amount that is possible for your specific insurance quote. You can also get a quote within a few minutes of entering your information.

Francisco Segura owns and operates http://www.insurancequotesinsider.com View for Insurance Quotes

How To Combine Your Insurance Quotes To Save You Money

By Francisco Segura

Your family depends on you to find the best insurance quotes that will not only save money but it will provide the utmost in insurance coverage if you ever need it. It’s not easy to plan for all the expenses that can pop up during the month and throw your budget off track but insurance is one thing we all need in order to protect ourselves. So it’s great to estimate your monthly coverage for this expense.

When preparing to call insurance companies or if you plan to search online you will need to make sure that you have the right information with you before you call. If you are insuring your auto you will need the vehicle identification number, year, make and model of all the autos that will be covered on your policy. Remember that most insurance companies will also do a background or credit check to verify all your information. Also write down and make a list of any questions you may have or if you want to know any specific information. This will help keep your conversation brief and to the point. You also need to know how many drivers will be added to your policy, if any. Have the name, contact information and social security number of each driver that will be insured.

When calling around for the best insurance quotes, whether it is for auto insurance, home insurance, or life insurance you want to make sure that you get the right amount of coverage for the best price. If you are insuring your auto or home and you have it financed, the financial institution will probably require that you keep a certain amount of coverage on the auto or home until you have paid the debt off. This is to protect their investment incase there is an accident.

Searching online for the best insurance quotes has its advantages. You can find the best insurance companies online in the privacy of your own home and at anytime. This is great when you have a family and are unable to devote a certain amount of time talking on the phone. Your time is valuable too and because of that most insurance companies have made obtaining a quote much easier than ever before. You can do a search to find the list of the best top ten insurance companies to choose from and then begin your search. Most insurance companies online will offer you insurance quotes for free. The way it works is simple; enter your information, answer a few questions and then receive a quote usually within minutes.

Don’t accept the first quote that sounds good to you. Instead, go through your list entirely before making your decision. Once you have all the insurance quotes from all the insurance companies you can make your decision. Most insurance companies offer immediate coverage and you can print your proof of insurance once you have paid for your premium.

Insurance is expensive and it is something that you need everyday of your life. This type of investment is one that needs careful consideration and ample time to find out which one is right for you.

Francisco Segura owns and operates http://www.insurancequotesadvice.com Insurance Quotes

How Long Do Insurance Claims Take?

By Derek Rogers

No matter what kind of claim you're making, the settlement of your insurance claim could take months, even years. Commercial claims on buildings and vehicles are often complex with reams of red tape. Domestic claims - homeowner's, life, and vehicle insurance - are less complex, but involve the often-unprepared policy holder doing battle with an insurance company that is long skilled with denying claims.

Your first weapon understands how long your claims should take. Small cases, like vehicle damage, should be taken care of right away. More than a business week is too long. Medical cases should also be handled quickly, though they may take a bit longer, up to a month or more if the case is complicated. Life insurance should be settled, also, within a month of filing provided there is no controversy surrounding the death.

Home insurance and business insurance are a little different. First, with your business, if you have business interruption insurance with the same insurer that covers your premises, you may be able get them to move faster as every day they don't pay you is another day they pay on the other policy. Regardless, in both home and business settlement will take a little longer than other policies, particularly if the damage was caused by a natural disaster that caused problems elsewhere as well. If you take pictures of everything yourself, you may be able to speed up this process; if it takes more than a couple of days for the claims adjuster to make it out to your site, you should take those pictures yourself anyway to document how much damage was done.

There are a few things you can do to speed up your claims. The first is to stay on top of it. You should know what stage your claim is in, what has been done and what remains to be done, and approximately how long it is until you can expect to hear a decision. This often entails keeping very good records as well as calling weekly or even daily to check on what's happening. The person to deal directly with is your claims adjuster.

If your adjuster does not give you good results in what you consider to be a timely manner, ask to speak to his or her supervisor. A good supervisor can get your claim expedited.

If your claim is a large one and especially if you're nervous about the possibility of the claim being denied (as in when floods cause large numbers of homes to be damaged and make it more likely for the insurers to deny claims) you might need to hire a loss assessor.

How a Loss Assessor Can Help

A loss assessor is to you the same as the claims adjuster is to the insurance company: an ally who will look at the damage done and try to come up with a fair price to cover the claim. He often has a claims adjustment background, and will be able to deal with the insurance company better than you ever could. Although a loss assessor will cost you money, the increase in your settlement he may be able to get should more than offset his cost to you, and in addition he will be able to protect your future claims with your insurance company. Whenever you have a large claim it is worth looking into a loss assessor for professional and intelligent advice.

Derek Rogers is a freelance writer who represents a number of UK businesses. For Insurance Claim Services and Loss Assessor Consultants, he recommends Morgan Clark.

Title Insurance - The Role It Plays

By Aazdak Alisimo

When you purchase real property, you take ownership in the form of a deed for title. Ah, but how do you know the transaction is legitimate? Title insurance!

Technically, the purpose of title insurance is to protect a new homeowner from anything that could go wrong with a home's title. What types of things could possibly go wrong? What if a previous owner built a portion of your new home without adhere to building codes? Once you purchase that home, you may be faced with some hefty fines unless you have this type of insurance to protect you.

Additionally, this sort of insurance will help you when you are facing any sort of legal trouble regarding your new home. The truth is that you really don't know much about the previous owners at all, which is why it's important to purchase this type of insurance. Speaking of purchasing ... with today's housing situation, you may not have to buy your own insurance at all. Usually, a home buyer will have to purchase this insurance on their own, but you may be able to talk a current homeowner into splitting the cost with you ... or paying it in full.

Talk to a homeowner when you decide to purchase a home. Look over all the deeds and titles that go with the home, and make sure that you understand everything listed. If you are not sure, contact a lawyer and let them do a bit of research for you. Sometimes, you may not need to purchase this type of insurance at all (though this is not advisable). However, the basic purpose of title insurance is to protect you when the former owner leaves and you are standing in the middle of a mess.

By now, it may be more than obvious that this type of insurance is a good idea - especially if you are buying an older home. Without some sort of protection, you may not be able to defend yourself adequately when your home's titles come under question (and nobody wants to go through that type of trouble).

The purpose of title insurance should be abundantly clear now, which means that you have a decision to make. For the most part, it really doesn't make any sense not to protect your new investment, so start researching those types of insurance today.

Aazdak Alisimo writes title insurance articles for TitleInsurancePolicyCompanies.com where you can find a directory of title insurance companies across the country.

What Are Some Examples of Insurance Fraud?

By Urban Sotensek

Insurance industries report a possible 3% to 10% of all insurance claims are frauds. There also are many reports of exaggeration, for instance if a thief has stolen a TV from someone, he will usually hide his computer and radio and add it too the report. The second ones usually are average people looking for a quick buck or have gone the bad road because of their current financial problems, such as bankruptcy or business failure. On the other hand we have usual criminal offenders and organized crime. Members are already having a police record and looking to benefit from insurance frauds on a regular basis. The money stolen by these fraudsters is the money from other people who are insured and those paying premium prices for extra security.

Auto Insurance Scam

Lets look at a professionally organized automobile insurance scam involving many con artists. You get up, dress for work and drive through your town to your workplace. Someone is following you, but you don't recognize it. At one time the car following will over take you and next hit the brakes making a rear-end collision. You won't even know whats going on and in panic maybe even forget the facts and events that happened before the car crash. The driver which you ran on to will immediately approach you, ask you what is wrong and if you need any help. "Is everything okay, do you need a doctor? If you want I can call my own. No? Lets examine the situation then. We should call a towing service and car body repair shop, I have one stored in my cell phone. We also should make proper legal arrangements, I will call my lawyer for us." Perfect! You think to yourself, hmm thats the best accident I've ever been too! What you don't know is that the Car Shop hired the driver to run onto you on purpose. The doctor and lawyer also were awaiting the call, being part of the game. In the end you or your insurance will pay the doctor, lawyer, towing fee, storage fee, car repair... If you are in a car accident, read the fine print on every paper you will sign. Don't accept offers for services from anyone involved in the collision.

Insured Documents Scam

Lets look at an example of fake insurance claims for travels. Even though nowadays travelling package at airports is highly automatized and computerized, there still are many reports on packages getting lost. Lugging baggage at airports is usually insured for a cost much less than the one paid if the package gets lost. Organized criminals therefor can and "loose" these to get money from an insurance company. More often at jobs like this there will be an insider person cooperating with the person who is about to "lose" their package. Same goes for insured papers and documents. During their transportation they somehow get lost during the way.

Fake Paper Claims

This is pretty simple. The con artist is trying to fool the insurance by making them believe an event that in reality never happened but only exists on the paper.

Fake Or Bogus Insurances

You are starting up a small business. As usual you have a low budget on start, but if you want to operate you have to get some insurances for your business or at least health care insurance for yourself and the employees. You ask around, look in newspapers, all across the internet to find a perfect deal. All of a sudden you find a special deal at a very low rate. You call the agent and sign the papers, happy you found this agent. Two months later one of your employees gets sick and you send him to your local hospital, but somehow he is denied to receive basic health care. You figure out you have signed a false insurance and gave the money to a thief.

Urban is an expert in fraud investigation, SEO, online marketing and business. This article is just an excerpt of Fake Insurance Claims To read more go to Insurance Fraud

Mortgage Protection Offers Short-Term Monthly Cover

By Simon Lance Burgess

Mortgage protection, or mortgage payment protection insurance (MPPI), is part of an umbrella of short-term work related insurance products under an umbrella known as payment protection insurance (PPI). Also known as ASU coverage, the insurance provides short-term job loss protection due to accident, sickness, or unemployment. People can opt to choose coverage for all three of these events, but many customers opt for the unemployment protection, as they rely on other work related insurance for sickness and accidents. However, many choose to be covered by all three as premiums can be low and benefits are unique.

Since October of 1995, new home owners have had little short-term mortgage protection from the State. At that time, a nine month waiting period was instituted before the State would support unemployed people. Many Brits cannot wait that long and would risk losing their homes without some other type of funding, or insurance protection.

Although about 60 per cent of new mortgage borrowers are buying mortgage protection with their new loans, only about one third of all borrowers have the coverage. This is because up until now, many consumers have been unaware or uneducated about the benefits of the insurance, and how to get it at a lower cost.

Unfortunately, many customers have traditionally purchased mortgage protection from high street banks or large lenders. Rates from these institutions are often fairly high, making the insurance somewhat impractical. These organizations have also come under fire for several years for their use of deceptive or high pressure sales tactics. They often combine the insurance with mortgages or other loans, secretly, or by overwhelming customers.

It is vital that consumers explore low cost premium options available through insurance brokers, many of which operate online. Customers can quickly and easily sort through various products, providers, and benefits, and compare premiums costs of different types of coverage. Additionally, broker specialists typically maintain a better reputation for fair practices and generally are part of associations which maintain ethical standards for their members.

Income payment protection usually offers payout periods of 12 to 24 months, with small exclusionary periods up front. Payment amounts vary, but with a reasonable normal income, many individuals can get protection for their full mortgage payments, as well as some additional protection to cover other debt payments and living expenses. This short-term protection is sometimes confused with longer-term income protection, which has more advantages for long-term periods of unemployment. A big benefit of the income payment protection is that it covers involuntary redundancy, which is not available under the longer-term income protections.

Consumers need to speak with a broker specialist and be open about their particular mortgage protection needs. Brokers usually have premiums that are 40 to 80 per cent lower than traditional banks and lenders. Brokers can help explain the advantages of the mortgage protection and how it is unique. Essentially, the protection is intended to relive the burden of monthly financial obligations for individuals struggling with long-term health problems are forced unemployment. It is a peace of mind for many.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage protection.

Mortgage Cover Is Reliable Protection

By Simon Lance Burgess

For most Brits, a house is the most important investment they will make during a lifetime, both from a financial perspective, and a lifestyle perspective. It makes sense, then, that people would do everything they can, within practical terms, to protect this investment. It is strange that only one third of all Brits take advantage of one of the best ways to protect their investments from short-term job or income loss. While 60 per cent of new home owners are buying mortgage cover, many are still without this relatively modest protection that could make the difference between keeping and losing one's home.

Part of the reason that many continue to live without the protection is that they do not understand the benefits of it. Amazingly, some people that do have the insurance are not even aware that they have it, or do not understand what it does. Even more surprising, some people have the insurance, but are not even eligible to collect its benefits should a need arise.

Mortgage cover is part of a group of short-term mortgage insurances known as mortgage payment protection insurance (MPPI). These insurance products are usually one to two years in nature. They are designed to protect home owners who face involuntary redundancy, prolonged illness, or accident, and need assistance to meet monthly mortgage payments and additional expenses. MPPI products fall under a broader umbrella of related products known as payment protection insurance (PPI). Mortgage cover, income payment protection, and loan payment protection are the three basic types of PPI products.

Another reason that many Brits do not have the insurance is that they believe the State will provide enough assistance in the event of job loss. The reality is, new home owners receive no coverage for nine months from the state, based on rules established in October of 1995. Support for prior home owners is very limited. Most Brits on a budget need either some assistance, or much assistance, to meet their monthly mortgage needs.

Another reason some people are unprepared with the proper protection is that until recently, high street banks and lenders have reigned over the industry. They have notoriously charged high premiums to consumers, often packaging the insurance with mortgages, credit cards, or personal loans, with either modest mention, or no mention at all. Some have barely noted the premium expense in the fine print of other disclosures.

Thanks to efforts by Citizens Advice, and other consumer groups, the Competition Commission is set to announce results of its investigation into industry practices, in February of 2009. Their announcement should result in increased effort for fair selling to customers. If nothing else, the investigation has lead to great consumer awareness of the selling tactics, and questionable practices of some banks and lenders.

As importantly, more consumers now realize there is a good low cost option for obtaining mortgage cover. Insurance brokers commonly have similar coverage for 40 to 80 per cent less than traditional sellers. They also have a better reputation for making customer interests their top priority. Many Brits need the mortgage protection to save their homes in the event of unemployment. It is good to know they have more options now than ever.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of mortgage cover.

Income Protection Insurance or IPP

By Simon Lance Burgess

Income protection insurance is often confused with income payment protection insurance (IPP) and other payment protection products. Income protection insurance is often confused with income payment protection insurance (IPP) and other payment protection products. It is more of a long-term protection. IPP is part of an umbrella of under appreciated short-term unemployment and accident and sickness insurances known as payment protection insurance (PPI). It generally offers 12 to 24 months of monthly payments, which typically cover up to 50 per cent of a covered person's normal monthly income, or 1000 pounds, whichever is lower.

Covered events under the income protection insurance plans include involuntary redundancy, accident, or illness. The involuntary redundancy is a big benefit that separates payment protection insurance products, including income payment cover, from the income protection insurance products. In fact, PPI covers are one of the few options Brits have to protect their monthly incomes in the event of unemployment. It does not protect voluntary redundancy, but neither income protection insurance, nor State support, can offer much or any support for unemployment situations that people face.

Big improvements have developed in recent years within the PPI industry. These improvements should continue as regulations to protection consumers against unfair selling practices are on the horizon. Based on complaints from consumer groups to the Office of Fair Trading (OFT), the Competition Commission is investigating the industry and is set to announce its plan of action in February of 2009. Many people expect stronger regulations to protect consumers.

The negative behaviour of large institutions like banks and lenders has actually helped create consumer awareness of payment protection covers and improved interest in more reputable brokers. Banks and lenders have notoriously packaged their insurances with loan products in order to pressure customers to buy them. Some have even billed the premiums without directly communicating so to the customer. They have instead fit the details into the fine print of loan disclosures.

Some sellers have even sold the protection to part time employees and retirees who are ineligible to receive benefits based on the full time requirements of the cover. Brokers have risen to the top of the industry with regard to respect for fair business practices and support of customer interests. Brokers usually offer plans with premium rates at least half that of rates offered by high street banks and lenders. Between the lowered premiums and the improved benefits, independent providers are definitely the best value in the payment protection insurance industry. Specialist brokers have even developed unique benefits to improve opportunities for consumers of all ages to get fair premiums, as well as benefits customized to the needs of the insured.

Unlike long-term income protection insurance, income payment plans and other payment protection insurance products are to help injured or ill employees see their way through short-term glitches. For many, the stress of prolonged illness or injury is enough to bear, without adding the stress of insurance hassles. Brokers understand these stresses and want to do whatever they can to help match prospects with plans that have the best rates for the desired covers. Payments for covered events generally begin from 30 to 90 days after the coverage begins.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of income protection insurance.

Income Protection for Long-Term, IPP for Short-Term

By Simon Lance Burgess

Income protection is a long-term insurance cover that provides benefits up to retirement age, if necessary. Income payment protection (IPP), which is a shorter-term insurance product often confused with income covers, offers payout terms of 12 to 24 months, typically. IPP allows full time employs to protect up to half of their monthly income, or 1000 pounds, whichever is greater. It also offers the most flexible coverage options of any of the payment protection insurance (PPI) products. These include mortgage covers and loan covers as well. Both these cover types offer a bit higher payout coverage, but less flexibility.

Income protection, as well as being long-term in nature, also does not include unemployment benefits. Since the State has reduced or eliminated its assistance for unemployment since 1995, IPP is especially important security for many Brits as it does offer involuntary redundancy coverage. Along with the forced unemployment benefits, IPP also covers illness and accidents that are covered under all the payment protection insurance industry products.

There are many companies that provide protection insurance, but not all providers are equal. In spite of the fact that surveys show Brits are still somewhat unaware of payment protection insurance benefits and sometimes unaware whether they have the insurance, consumer groups have heightened awareness in many positive ways. Citizens Advice, a leading consumer advocate, did a great favour to Brits by prompting an investigation by the Competition Commission. In 2005, the group lead a super complaint to the Office of Fair Trading (OFT), which charged high street banks and lenders with mis-selling PPI products. The Competition Commission is set to announce results of its subsequent investigation in early 2009.

The greater awareness of institutional ethics has enhanced focused on a more reputable provide of the short-term products. Independent insurance brokers maintain a much more credible relationship with consumers. Their products are generally 40 to 80 per cent lower in premium costs than the larger institutional products. Their benefits and services are also much more customer-oriented. Banks and lenders notoriously packaged insurance protection with loans to pressure borrowers into adding expensive premiums to their product portfolios.

Brokers can help insurance customers find great plans and the best rates. Many offer rates that are the same regardless of customer's age. This is quite different than typical income protection products or other work-related health plans. Brokers also put together discount opportunities, including joint insurance covers. There are a few minor exclusions to benefits that consumers need to be aware of, but these exclusions are more limited with brokers and disclosure is much more transparent. Brokers are generally honest with customers and let them know what is covered and what is not.

Brits need to prepare for negative events that can prompt a temporary loss of income. Income protection or work health plans are common for meeting long-term needs. More people need to look to payment protection insurance products for their short-term unemployment / illness needs. Payment protection insurance products are designed to help people sustain themselves through prolonged illness or injury.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of income protection.

Income Protection Cover Provides Short-Term Support

By Simon Lance Burgess

Insurance can be complicated to understand for many Brits. Terms are often very similar but have quite different meaning from a product and coverage perspective. For instance, income protection cover, a long-term insurance solution that pays benefits up to retirement, is often confused with income payment protection, which is a short-term plan under an umbrella of payment protection insurance (PPI) products. These two products are very different, but often are known by overlapping terms.

Income protection cover is not designed to provide short-term advantages in the way that income payment protection is. Income payment protection typically covers up to 50 percent of a covered individual's normal monthly income. While this is the lowest of the three common types of payment protection, the benefits of this short-term insurance are great. Income payment protection covers accident and illness, but also covers involuntary redundancy. Income protection cover does not provide unemployment benefits, nor does the State. This is part of the unique offer from income payment cover.

Although total allowable coverage is a bit lower for income payment cover than other PPI products, it offers the greatest flexibility. Plans can be arranged to specifically support mortgage, rent, household bills, loans, and virtually any other regular or common monthly expense an individual wants to protect. While the cover does not completely make up for loss of income, it is a great support and can be supplemented by savings, other insurances, and some minor support offered to certain individuals, from the State.

As mentioned, income payment protection insurance is different from income protection cover in that its benefits are short-term in nature. Payout periods are generally one to two years, with payments come in monthly installments. Payment benefits usually begin from 30 to 90 days following coverage origination. The benefit maximum for income payment plans is 1000 pounds, or the 50 per cent of income level, whichever is lowest.

Although payment protection insurance products have been around for sometime, they have often been an overlooked or misunderstood insurance product. Part of the misunderstanding can be directly attributed to deceptive selling techniques used by large banks and lenders. These institutions have often combined the protection products with the loan products in order to package them. This puts pressure on the borrower to feel an obligation or buy the insurance with the loan. Some providers did not even mention the insurance, but simply added it on and noted it in the fine print.

More and more consumes are recognizing the greater benefits in payment protection insurance from specialized brokers who are out for their best interest. Whereas income protection cover helps with long-term needs, income payment plans are a financial security for the insured's short-term needs. Some people cannot last long without monthly income and need to pay the small premium charged by brokers to secure their key assets and cover their expenses. Broker premiums are usually 40 to 80 per cent less than those charged by institutions. Their services and enhanced benefits make their products better overall.

Simon Burgess is Managing Director of the award-winning British Insurance, a specialist provider of income protection cover.

Avoiding Health Insurance Claims Denials On Group Or Private Health Insurance - Part 2

By Ryan Patterson

Unfortunately, paying for health care these days - whether it's hospital care, group or private health insurance, or durable medical supplies - is a lot like buying a car: You gotta haggle. If you can research and take care of your out-of-pocket expenses prior to surgery, it's possible and wise to negotiate with the hospital and providers for a lower out-of-pocket rate.

For example, say you know you have elective surgery coming up, and you've discussed it with your doctor and agreed on a date. His office already has the paperwork process underway with the insurance company, and you read through your policy and find that it does not cover out-of-network anesthesia. What do you do? You might call the hospital and ask how many in-network anesthesiologists they generally have on hand at the time when you've scheduled your surgery. If you know there's a good chance the person who is going to provide that service is not going to be covered by your policy, this is where the negotiations start.

Today, we have to negotiate these kinds of things, as difficult as that seems in light of any health issue. We also have a growing rate of tiered billing practices, so we can be charged anything from what a provider like Medicaid or Medicare might have to pay, to the price level of an uninsured patient, which might be substantially higher, but since the charges aren't necessarily standardized, there's a lot of room for discussion. Many hospitals charge uninsured individuals a lot more for services so they can make up for costs lost elsewhere in their operations. The point is, from one end of that spectrum to the other, there's a lot of negotiation room. Knowledge is power, especially in this scenario.

Start with reading and digesting your health insurance policy, whether it is group, government provided, or private health insurance. Call your doctor and ask what kinds of surgery-related expenses a patient is generally expected to cover. These may include radiology (x-rays), consultation with out-of-network specialists (whose fees are also negotiable), pathology, and even blood transfusions. Then, starting with the finance department, call the hospital and ask them which service providers operate outside of your network, and get ready for the talks to begin.

Explain what your insurance provider will cover and what you can afford to pay for the rest. Many hospitals today have made their pricing policies transparent and therefore have prices posted to the hospital Web site or readily available for consumer perusal. Keep in mind that the hospitals offering such practices also only guarantee the prices from the date of printing (or publishing); all the same, armed with this information you can at least get a rough idea of the price range you're dealing with.

According to one lawyer at the Texas State Department of Insurance, pricing is not the only thing you can tweak. "You can also talk to your own doctor and see whether he can find other providers at the hospital who wouldn't be out-of-network. If you have one surgery date, but that scheduled time doesn't coincide with the physical presence of in-network providers, but another time does, well, you'd choose a different time, wouldn't you?" He also said to be on the lookout for words like "allowable," "usual," and "customary" in your policy, because those usually signal "points of flexibility," and we could all use a little flexibility with insurance companies and hospitals.

Ryan Patterson is president of US Insurance Online based in Austin, TX. He graduated in 2000 from the University of Texas with a combined business and computer science degree, and started the company in May of 2005 with fellow entrepreneur Jim Waltrip. The recently re-launched site is designed to provide insurance shopping help and free insurance quotes. For assistance finding the right private health insurance plan, visit http://www.USInsuranceOnline.com

Insurance Protection for Your UK Mortgage

By Paul Elms

If you are planning to take out a UK mortgage, you should also plan what insurance protection you need as well. There is a bewildering array of insurance policies that are out in the market. This can be quite confusing for the first time buyer. Here is a quick run down of the types of insurance that you should consider.

Buildings Insurance - This will protect you if you house is seriously damaged in some way e.g. a tree falling on it. All lenders will insist that you have buildings insurance, so you won't be able to get a mortgage without it. If you live in a flat, there will be buildings insurance arranged jointly for the whole property. This is often paid out of a central fund for which you will contribute a service charge to.

Life Insurance - Contrary to popular opinion, life insurance is not necessarily compulsory when you take out a mortgage. Many lenders will not insist on it, but it is a good idea. Think how you would pay your mortgage if you or a partner were to die. Check with your lender or on the Key Facts Illustration document to see if there are any compulsory insurances that need to be taken out with your particular mortgage product.

Mortgage Payment Protection - this will allow your monthly mortgage to be paid if you are off work sick for a period of time. Again this is not usually compulsory, but maybe worth considering.

Here's a tip that could save you money on your insurance. If you are going through an independent mortgage broker they will find the best UK mortgage deal on the market for you. But many are tied to one insurance company. So the insurance that they offer you is not necessarily going to be the cheapest. It is always worth shopping around to see if you can get a better deal.

Discover how to get the best mortgage deals in the UK by visiting http://www.ukmortgagefacts.co.uk. Get the list of mortgage lenders in the UK.