Credit protection insurance

If you are buying something on credit, credit protection insurance can give peace of mind by taking care of payments if you fall ill, have an accident or lose your job. Cover is offered as an option with most things you buy on credit.

Before you buy cover make sure you have read and understood the conditions fully before you agree to take the cover. Don't rely on the sales pitch for your information.

Look for exclusion clauses that may prevent you from making a claim. For example, the insurance company may reject your claim if you knew about an existing health condition when the insurance was taken out.

Before buying the insurance remember:

• read the policy carefully
• make sure you are eligible for cover
• study the exclusion clauses
• make sure any existing medical conditions are covered
• get advice if in any doubt, ask questions of the sales staff and get the answers in writing
• don't be rushed into buying insurance you don't need
• don't be afraid to ask questions
• don't forget to ask for clear, written price details
• don't forget to shop around and get value for money
• don't be fooled by a salesperson insisting that you need insurance