The Facts Of Credit Card Payment Protection Insurance
There is no one who can predict what will be his or her financial condition in future
. If you have to take care of your family but you become jobless or disable due to any accident then you could not be able to do that owing to your weak financial conditions. So you should be careful from the initial stage. Credit card payment protection insurance makes available safety in case of accident and sickness (disability), unemployment, carer, death, fatal illness and hospitalization. So make this insurance as soon as possible to over come these critical situations in future.There are a few facts regarding the credit card payment protection insurance. Firstly you need to maintain the monthly average balances and these are minimum 1000 and maximum 5000. You will be paid ten percent of the average monthly balance in every ten months of each claim. One monthly benefit will be paid later than seven days hospitalization and after that on a daily basis. Another monthly benefit will be paid after fourteen days accident and sickness (disability) and then on a daily basis. In case of unemployment, one monthly benefit will be paid after thirty days and then same like others. A payment will be made after sixty days in case of carer and after that daily basis will be followed.
You need to pass the eligibility criteria for applying the credit card payment protection insurance. Firstly, you should be a U K citizen and 18years aged at least. However you should not cross more than 65 years if you are a male candidate and in case of females, you should be under 60 years of age. While you are applying for the insurance, you need to be fit and working for any organization for more than six months and the organization must be in the United Kingdom. Overall you have to agree with all the primary as well as secondary terms and conditions.
Here are also some cases for which you will not get the payment. These are like temporary unemployment means short time unemployment and voluntary unemployment which means early unemployment. In case of pregnancy, you will not be paid unless any severe medical problems. If you are not residing in U K for more than last three months then you can not able to make any claim. If you get injuries or diseases by your intoxications or suicide then also you will be not paid at all. There are also lots of terms like unemployment for uninterrupted thirty days, accident and sickness (disability) for uninterrupted fourteen days, hospitalization for consecutive seven days, and carer for uninterrupted sixty days. Overall, the credit card payment protection insurance has incredible role in life but you need to be aware of these facts before applying.
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