Loans Glossary - Loan Protection Policy

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Loans Glossary

Loan Protection Policy

What is Loan Protection Policy?

Loan Protection Policy is an insurance made in the case the customer is in a position in which he can't pay. In this situation the insurer gives an amount of money so the customer can make his payments.

For example you take out an X amount of loan and you make an insurance policy. If something happens to you like sickness or unemployment then the insurer will help you out to pay the loan.

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