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Can PPI be hidden within the loan?
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# 1
Old 23-05-2011, 9:21 PM
MoneySaving Newbie
Join Date: May 2011
Posts: 5
Default Can PPI be hidden within the loan?

I have looked through my loan T&C's but can't find my personal summary from when the loan was taken out. It states on my agreement that the LPI is zero but I remember being told I required PPI as I had no means of covering payments if I was sick/made redundant. What I didn't realise is I'm paying 24.9% interest on my £5k loan over 60 months. Can the insurance be included in the loan itself or does this mean & I don't have cover on my loan?
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# 2
Old 23-05-2011, 9:48 PM
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Location: Norfolk
Posts: 74,550

Can the insurance be included in the loan itself or does this mean & I don't have cover on my loan?
The agreement seems to suggest you do not. However, if in doubt, phone and ask them.
I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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