Why should individuals enjoy repayment protection?
Answers: Hello,
(ANS) Repayment protection is a total and utter SCAM its not worth a candle frankly. Definitely NOT worth the paper its written on !!
**Repayment protection ranks along beside critical illness cover as possibly the biggest rubbish of time & money in the entire insurance industry. The general public who sell these products are 100% self interested, they are selling it too you for THEIR!! benefit NOT yours, as they catch a large commission levy for successfully selling a policy of that kind.
**Plus repayment protection insurance is extremely expensive beside no benefit at all to the client, as the probability of making a successful claim are zero surrounded by my opinion.
**People are commonly frightened into taking it out such policies or have pressure put on them by sale agents because the sales staff achieve a nice fat commission charge if they can con someone into taking it out.
**Repayment protection is NOT obligatory you don't requirement it nor have to hold it to take out a loan or mortgage. Such policies I deem are immoral as it exploits a those fears & vulnerabilities in the situation. Look contained by life NOTHING is correct and you can never insure yourself for every potential possibility that can go wrong within life. But you shouldn't extension up paying out large monthly payments on a product that give zero return, specifically called thieving in my feelings yes! you can dress such products up in fancy name but its still immoral within my opinion.
Kind Regards Ivan.
If they lose their job, or get sick etc later the payments would be made for them.