Personal Loan Protection - Is it Worth It?
If you are considering taking out a personal loan, then you may also want to
consider signing up for personal loan protection. For a small financial
investment you can save yourself considerable worry and protect your loved ones
from sizeable financial distress in the case of disaster.
The following are some examples where personal loan protection could offer assistance.
Tom was a personal trainer with less than three years left until
retirement. Tom was injured while assisting a client and was unable to work
for more than six months. During that time, Tom was able to recuperate
without the added burden of financial hardship and worry. Tom had personal
Alice slipped and fell while she was gardening. She couldn't go back
to her job in retail because it required her standing on her feet all
day. Alice had never heard of personal loan protection. When she heard
how inexpensive it can be and how it could have saved her so many financial
hardships as a result of her accident, she wished she had known more about
Is personal loan protection worth it?
Most of us realise how important it is to expect the unexpected and prepare
for the worst. Think of what you pay in car insurance, life and health
insurance, home and contents insurance. Why do you invest in
insurance? To mitigate your personal risk in the event of
tragedy. Insurance is a simple way to give ourselves peace of mind and take
care of ourselves and our families if things go wrong.
Now think about the value of a personal loan. If you have no loan
protection on a $30,000 loan and have comprehensive insurance on your $2,990
1995 Subaru L Series, then you aren't truly evaluating all of your financial
risks. If you are injured in an accident, acquire a debilitating disease,
lose your job or your ability to work in your industry of expertise or if you
die the last thing you or your family want to worry about is some
loan. Personal loan protection provides you and your family the guarantee
that you have financial coverage sufficient for your personal loan
If you are taking out a loan or if you currently have a loan you have taken
out that you would have a difficult time repaying if you were injured or
experienced the inability to earn an income, you amy wish to consider personal loan
protection. Personal loan protection saves you from the hassle of financial
distress during the sort of times in which you need support and a lack of stress
on your pocketbook and state of mind.
It's been three years since Tom's accident and he is getting ready to
retire and move with his wife to be closer to his daughters. Tom fully
recovered from his injury and enjoys life to its fullest. Alice lost her
job in retail and now works for a web marketing firm. She is doing well,
but says she learned a valuable lesson about protecting against
disaster. As for personal loan protection? "I have it now," says