Lendup Login
Loan protection can give the policyholder a monthly income, which is tax-free. A policy would insure against the policyholder being made unemployed by such as redundancy. It would also safeguard against accident or illness.
In order to take out a policy the individual must be in full time employment. Must be aged between 18-65 years of age, plus there will be other requirements. A policy would give the individual an income after a certain period. This will be set out in the terms and conditions and must be read.
Usually the waiting period will be between 30 and 90 days of being continually unable to attend work or of becoming unemployed. It is also worthwhile checking to see if the policy would be backdated to the first day. Some providers will offer this and others do not. After the commencement of the cover, it would continue to provide security by way of an income for between 12 and 24 months. In the majority of cases, this is more than enough time to get back on your feet or to find another position.
