We all do not know what the future has in store for us. If you become unable to work due to unemployment, sickness, injuries, or even disabilities, or if you have to look after your partner, spouse parent or even your child for a long period of time, you might not be able to meet and deal with your financial responsibilities. There are loads if opportunities given to individuals to be able to protect themselves and their family should they be unable to work.
However, not all people can qualify for income support and the likes which is why credit card protection covers are made available for people. This provide insurance buyers during circumstances which may be related to accident, sickness, disability, immediate unemployment, death, serious illness, and hospitalisation.
Additional details and information which every probable insurance buyer may need are related to the eligibility criteria during your purchase. These eligibility criteria are as follows:
An individual can apply for a credit card protection cover is on the start date he or she is taking out this credit card payment protection cover to insure their average monthly outstanding credit card balance. An individual can apply if he or she is a permanent resident of the United Kingdom. An individual can apply if he or she is around 18 years of age or over upon the start date of the insurance policy and is not beyond the statutory retirement bracket of around 60 to 65 years of age (which may still vary if you are a male or a female) upon termination of the policy cover. An individual can apply if he or she is currently working upon the start date of the insurance cover for not less than 16 hours in a week's time. An individual can apply if they have been employed for the past 6 months for the same working hours mentioned above and that their place of work is with the United Kingdom. There are more probable criteria in applying. However this may differ from one insurance company to another. It is always best to check your options and know all the essential information before actually purchasing one.Credit card protection may provide an insurance cover with respect to your outstanding credit balance in a month. Here are just some details you have to remember. First, the lowest average monthly outstanding balance insurance policy available is around £1000 while on the other hand, the highest possible average outstanding balance for the insurance cover in a month may be up to £5000. Second, Around 10 percent of the overall total average of the monthly outstanding balance is paid for about a maximum of 10 months in every claim.
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