Advisors Needed to Strengthen Payment Protection

Payment protection insurance is a payment coverage plan that covers payments of unpaid debts at the time of redundancy or sickness.
 
July 5, 2012 - PRLog -- Payment protection insurance is a payment coverage plan that covers payments of unpaid debts at the time of redundancy or sickness. But in past some years, it was sold unfairly by financial institutions and several borrowers were out of money as its consequences. Several consumers have complained about unfair trading practices of bank and finally in April 2012, PPI selling along with any lending financial product has been banned. Now PPI(http://www.ppiclaims.uk.com/payment-protection-insurance/) or any such related financial products are individual and sold by policy sellers as standalone product.

Alex husty a famous financial advisor and consultant has told that such changes in the insurance market present a good opportunity for financial consultants to sell standalone payment coverage plans. New policies will not offer only loan repayment coverage but also to cover some part of income. It will focus on wider protection for clients.

Another financial analyst Mr. John Allison has stated that most of the people prefer just health and property insurance. There are very few people who have loan payment coverage or life style coverage. In such case, people may face difficulties to maintain financial requirements if there is any fall in income due to any reason.

Therefore, any type of payment coverage plan will present real opportunities for policy sellers. This market is exploring now with selling of just loan payment coverage to permanent long term income protection coverage like ppi claims(http://www.ppiclaims.uk.com/). It is good for financial advisors also. By recommending such plans to the consumers they also become able to protect their own business. In case, client loses income due to sickness or loss of job then such plans can help to get life style coverage. Financial advisors can arrange such plans for consumers.
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