PPI Insurance to Cover Loans

Payment Protection Insurance (PPI) also known as credit protection insurance or loan repayment insurance is needed when your lender requires extra protection against inability to pay the loan due to an illness or accident. If you get sick or hurt, you won’t be able to work so you may be unable to make your loan payment obligations.

If your bank or financial institution asks for loan protection for your mortgage, individual or business loan, you have quite a few options. We can help find your lowest cost. Give us a call today! (239)466-4466 or email Insurance@LifeGuy.com

PPI for Individual and Mortgage Loans

Lenders used to ask for life insurance only, to protect their loans and make sure they get paid if the recipient of a loan died prematurely before paying off the loan. Recently, most lenders have re-aligned with the actuarial facts, which show that chances that one can become unable to work before retirement age are four times higher than untimely death.

Bankruptcies due to medical issues count for over 50% of total bankruptcies and mortgage defaults. Protect your family and keep the house in case of an illness or accident that can cause loss of income. PPI is the protection your family needs.

PPI for Business Loans

Businesses have various financial needs to start, grow or continue normal operations. For most small to medium size businesses, the business owner is the soul and the main driving force to bringing in revenue. If the business owner can’t work due to a medical reason, illness or accident, the business will suffer. Therefore, it makes sense that lenders are asking business owners to cover business loans with PPI.

PPI for businesses can be in the form of a stand-alone policy for “Business Loan Indemnification” or as a rider on a “Business Overhead Expense” (BOE) policy. Depending on your business structure, loan amount and monthly obligation, a combination of these two may be your best solution. Please contact us today to help you protect your business!

 

Give us a call today! (239)466-4466 or email Insurance@LifeGuy.com

 

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Author: LifeGuy

Daniel LifeGuy Dragan has 102 posts in this blog.

Daniel is a dedicated insurance expert with a focus on helping individuals, families and small businesses avoid financial disasters with Life Insurance products, Paycheck Protection (Disability Insurance), Retirement planning, Cancer and Critical Illness Insurance, executive and business protection plans. With his comprehensive knowledge and experience in financial protection, Daniel can help save money as well as get all your insurance premiums returned to you if you didn't use any of the benefits. "Return of Premium" insurance is one of Daniel's strengths and along with his personal approach to his customers' needs, one of the main reasons his clients are referring him to friends, family and business partners. Daniel offers free financial consultations and can be reached by email at Daniel@LifeGuy.com or phone: (239) LIFE-GUY or 239-466-4466

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