Excite

Singapore Loan Holder Insurance Coverage

Being a Singapore loan holder is a big responsibility. Whether the loan is for a motor scooter or a house, you need to get a grip with your debt and repay the money. When you decide to become a Singapore loan holder you will often be asked if you want to purchase payment protection insurance or PPI. Although it sounds like a good idea, it just might be an added expense that you can do without. You also have the option of obtaining your loan insurance from a different company than the one providing the loan.

Pros of Loan Insurance - The biggest plus about being a Singapore loan holder with loan insurance is that if you are unable to make the payments on your loan, the insurance will make the payments. This helps you to maintain your credit rating.

Another plus when you are a Singapore loan holder with loan insurance is the peace of mind that your loan payments are covered if for some reason you lose your employment.

Cons of Loan Insurance - The biggest disadvantage of a Singapore loan holder with loan insurance is the cost. The premiums for Singapore loan holder PPI can be anywhere from 20% to even 50% of the monthly payment.

It may be very difficult to get your claim paid if you have need of the PPI.

Research Ahead of Time - If you want to become a Singapore loan holder it is in your best interest to do some research on PPI before making your application. You always want to be a Singapore loan holder in good standing.

United Kingdom - Excite Network Copyright ©1995 - 2018