advice about PPI please

di4neb

Hi
this is my first posting so please be patient with me right well what my question is, my husband wants to take out an unsecured loan to consolidate our credit cards (got fed up with being a credit card tart) and we have been approved a loan with Moneyback Bank, but they want to sell us life cover and critical illness, but I need to point out my husband is retied, but what i was thinking of doing is taking out separate life cover which works out a bit dearer will pay us a considerable amount more this would cover the loan and any other debt. oh yes I need to add that we already have Decreasing life assurance to cover our mortgage.
can anyone please advise thank you
Diane

Rafter

Diane,

As you are taking out unsecured debt and your husband is retired, presumably your income (pension) is almost guaranteed?

I'd suggest that the protection being offered by Moneyback Bank is as overpriced as other PPI policies and you would be better off without.

If the loan is to be in joint names and their would be hardship if something were to happen to one or other of you then maybe a small life policy might be an idea, but this should still be cheaper than PPI.

Have a look at sites like saga.co.uk to see whether they can point you at a company that can help.

Good luck.

R.

di4neb

Hi Rafter
I will take you advice and have a good look around
Thank you
Diane

sabelu

Dont take out PPI with Moneybank they tried to sell it to me there is a cheaper alternative https://www.FREEINSURANCEUK.COM