Optional Payment Protection Insurance
Whatever life brings, you could still enjoy peace of mind with Foundations Loans™!
If only we all had a crystal ball because sometimes, the unexpected can happen. That's why we believe Optional Payment Protection Insurance is such a good idea. For instance, if you fell ill, were made redundant or had an accident, Payment Protection Insurance could cover your loan repayments.
Foundations Loans™ offer single Accident, Sickness, Unemployment (ASU) and joint ASU as well as single and joint Life Cover. Or if you want you could have both!
It's a bit like always carrying an umbrella. Hopefully you'll never need it but its there for protection if you do.
What does it cover?
- Accident, sickness, involuntary unemplolyment, hospitalisation and life.
- Each lender offers their own Payment Projection Insurance for full details read the summary when quoted for a loan that will be sent to you.
- Payments on these events are subject to the terms and conditions of your policy.
For full details, read the summary. Payments on these events are subject to the terms and conditions of your policy.
Other things you might want to know
Who is eligible?
Payment Protection Insurance is open to customers between 18 and 65, who are resident in the UK at the start date of the loan.
How much does it cost?
We calculate the cost of your insurance as a percentage of your loan. It's then added to the amount you borrow and included in your monthly repayments, varies with different lenders.
How to make a claim
You can phone the Lender or insurance company direct.
Our typical, variable rate is 14.9% APR. Rates range from 7.3% to 30.0% APR.
Think carefully before securing debts against your home. Your home may be repossessed if you do not keep up repayments on a mortgage or any other debt secured on it.