Sears Payment Protection Insurance can be a great help to protect your family's financial well-being in the event of a sudden and unexpected illness or injury. This insurance is available at no charge and may be purchased directly through the company as an add-on to any current policy. Sears will offer you the lowest rate on the plan that you purchase. The important thing is to find out what it covers, and what it does not.
Sears Payment Protection Insurance is designed to protect you from the unexpected, and the unexpected may come at just about any time. From accidents and illnesses to natural disasters and even a lawsuit, there are many events that can occur without warning. If you are laid off from your job and are unable to make your monthly payments and find yourself in financial turmoil, this insurance can provide the financial relief you need.
To find out what Sears Payment Protection Insurance covers, it is important to understand what it does not cover. While you may think that Sears is covering your entire mortgage, or even your car loan, this is not the case. In fact, if you have a co-signer or someone who co-signs your mortgage, then the insurance company will not pay the full amount on your mortgage. They do, however, cover your credit card debts. You can find this information by looking online. Sears also does not pay your medical bills during the period of this policy.
If you are having trouble paying your mortgage or your credit cards, or if your income has dropped, this is something you will want to keep in mind. Sears Payment Protection Insurance can help you avoid bankruptcy, but it can also prevent a lot of problems from occurring during these trying times. So, what is covered and what is not?
One of the major exclusions is that Sears Payment Protection Insurance does not pay your rent during this time. The reason for this is that they know that you may not be able to afford to pay your rent if your income drops drastically. It is also possible that your landlord may raise the rent to compensate for the increased risk to their property. It is hard to believe, but some landlords will charge tenants more than usual, just because of the risk. That is why it is so important to understand that Sears Payment Protection Insurance will not cover your rent.
Some of the exclusions include things like funeral expenses, prescriptions, travel, and other unforeseen expenses. However, it is hard to imagine that you would need to file a claim with Sears Payment Protection Insurance and expect them to pay for such things. As a matter of fact, it is very unlikely. You should definitely consider this an option if you are having any concerns about your situation.