bank loans

[stephen2504]

have i got more chance of getting a bank loan if i take out there loan protection

[Postdog]

Strictly speaking it should not matter whether you take it or not. If you feel you'll need it - or more precisely, if you have the tiniest doubt you might need it, take it out.

At the end of the day though, if they feel you are a good enough risk to lend the money to, they'll lend it whether you take insurance or not.

[Loosehead]

never take out the loan protection, it's horrendously expensive and they'll welsh on it anyway. It won't affect your credit worthiness

[khana]

Unfortunately the answer is yes as it does give the Bank a little more protection and of course it makes them more money. As others have pointed out though, it is expensive, If you feel you would like the protection it offers then by all means take it or look at alternate forms of insurance like term life cover/invalidity benefit.

[vicalncraig]

Khana is correct, but cancel it as soon as the loan approved as it is useless and not obligitarory

[stephen2504]

thanks for your reply i never thought about getting insurance and then canceling it