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Originally Posted by timwilky
TBH, these schemes are a complete con. Expensive insurance that in most cases only has a payout duration of 12 months or less if you are in the final year of a loan etc.
When I once tried to take out a loan of £7000 with my bank they insisted that I have insurance as a condition for the loan. I declined their offer and took out a loan elsewhere at far lower interest once I had shopped about, so their loss.
OK, if I was made redundant I would get somewhere in the reason of £45,000 far in excess of any debts I had anyway. I also get 12 months sick pay before I drop to half pay for a further 2 years, so I guess for me that these sorts of insurance policies are just expensive add ons and of no value.
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Hmmm, you know what mr wilky, i havent thought about things like that