Can I get any protection for my loan?
Digster (1 year ago)
Can I get any kind of payment protection with my loan, just in case I lost my job or something?
FLM Loans (8 mths ago)
Payment Protection Insurance (PPI) is an insurance product that is designed to cover a debt that is currently outstanding. This debt is typically in the form of a loan or an overdraft, and is most widely sold by banks and other credit providers as an add on to the loan or overdraft product.
Here at FLM, we don’t offer payment protection insurance; we find it too expensive and prefer our customers to have a choice.
We do however have a sister company called Payment Guard. They offer Income Protection Insurance (IPI) - This is a one for all insurance policy to cover you for accident, sickness, hospitalisation, and unemployment.
If this were to happen you could receive a tax-free lump sum into your account each month for up to 12 months.
If you were to lose your job, you are still liable to pay your loan. We recommend Payment Guard to put you and your Guarantors mind at ease if the unthinkable was to happen.
In the current climate Payment Guard understand how hard it can be to get back into work that’s why each policy will also have a membership to Job Care (usually £150 p/a) – A free and confidential back to work advice service, to help with Interview techniques, CV writing and much more.
To be eligible with Payment Guard for this cover you must:
- Be living lawfully in the UK
- Be aged between 18 and 64 years (or the state pension age if earlier)
- Working at least 16 hours per week
- Be in good health
- Not be the subject of any ongoing disciplinary action or enquiry by your employer
-
Not Retired
If you want to see how Payment Guard can help you Click Here
Comments (8)
FLM Loans (12 mths ago)
Hi Jemma, as mentioned above, FLM don't offer any kind of payment protection insurance with our loans. Our sister company Payment Guard offer income protection which is different, but you would need to contact them to find out if you have a policy with them.
poppyfellows (9 mths ago)
Is Payment Guard the personal protection insurance for if I miss my payment?
FLM Loans (9 mths ago)
Payment Guard offer Income Protection Insurance (IPI) - This is a one for all insurance policy to cover you for accident, sickness, hospitalisation, and unemployment.
leroy (8 mths ago)
Does this loan have ppi with it?
FLM Loans (8 mths ago)
The loan does not have PPI with it, but our sister company Payment Guard, can offer you repayment protection for your loan with Income Protection Insurance if you would like it.
harry1 (8 mths ago)
Do I qualify for a PPI refund on my loan??
FLM Loans (8 mths ago)
Please be advised FLM do not offer or provide any form of Payment Protection Insurance, neither have we done so in the past.
FLM require a guarantor for every loan we offer, which is effectively the insurance against the debtor failing to maintain the repayments. This comes at no extra cost and allows them to be accepted for a loan with us.
jemma (12 mths ago)
hi i have a loan with you, my full name is Jemma Sproat just wondering if i took out a payment protection policy with you.