Taking out a loan is not something that a person takes likely. They will understand from the outset that the agreement rests on them being able to pay back what they owe in instalments and with interest added on top.
However, it can be one of the biggest shocks to find that not only have you been made redundant, but you will still have to find a way to make sure your loan repayments continue during this time.
Whatever your loan was initially for, it can look like a huge burden at this point – but with income protection insurance it needn’t be. This can cover for these unforeseen circumstances and ensure your financial obligations are still being met.