Unemployment Income Protection Plans Now in the U.s
Several major U.S. Banks are offering a some what similar product, but with one significant difference. This revolutionary new income protection plan pays a cash benefit to the individual if they become unemployed. The benefit is not paid to the lender, which is what just about every other income protection plan in the U.S. does.
The time for change has finally come. Most banks in the U.S. offer a traditional credit life insurance program which only covers the loan in the case of death. Plans like that are not effective, and don’t help with the real issues of loan delinquencies. Freddie Mac studies have shown that the major cause of loan delinquencies and foreclosures is loss of income due to Unemployment and Disability.
March 06 2011 | Keeping Your Home Despite A Job Loss | Comments Off