loanguard insurance RBS

Options
rbsmuppets
rbsmuppets Posts: 3 Newbie
in Reclaim PPI & other insurance
Have just received a PPI refusal from RBS and have been told I didn't have it, but I did pay every month for LOANGUARD INSURANCE. This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?

Plus I have found everybody at the bank very unknowledgable.

Comments

  • IAmWales
    IAmWales Posts: 2,024 Forumite
    Options
    Have you provided proof of your payments?

    For what reason do you believe you were missold?

    I wouldn't be calling other people muppets when you fail to provide nearly enough information for us to advise on.
  • rbsmuppets
    rbsmuppets Posts: 3 Newbie
    Options
    thanks to the rbs employee, do you need my name, account number, postcode ?
  • societys_child
    societys_child Posts: 7,110 Forumite
    First Anniversary Name Dropper First Post
    Options
    This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?
    That doesn't sound like PPI.
  • sun73
    sun73 Posts: 498 Forumite
    First Anniversary First Post
    Options
    rbsmuppets wrote: »
    Have just received a PPI refusal from RBS and have been told I didn't have it, but I did pay every month for LOANGUARD INSURANCE. This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?

    Plus I have found everybody at the bank very unknowledgable.


    According to a leaflet published by RBS in 2008 Loanguard insurance was a form of PPI. You could phone their PPI helpline or write and request a review of their decision. Was it included in your RBS loan payment, or was it listed separately every month? Do you have any statements showing the direct debits?
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    Life and Critical Illness Insurance is not PPI.
  • sun73
    sun73 Posts: 498 Forumite
    First Anniversary First Post
    Options
    Loanguard is an umbrella term for insurance cover with RBS e.g. overdrafts, mortgages, and personal loans. It could also include a critical illness policy, especially with MPPI.
  • rbsmuppets
    rbsmuppets Posts: 3 Newbie
    Options
    Thanks to all the replies. The Loanguard Insurance was added to the loan and increased the monthly payments.
  • Placida
    Placida Posts: 240 Forumite
    First Anniversary Combo Breaker
    Options
    rbsmuppets wrote: »
    Have just received a PPI refusal from RBS and have been told I didn't have it, but I did pay every month for LOANGUARD INSURANCE. This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?

    Plus I have found everybody at the bank very unknowledgable.


    It seems the FOS consider Loanguard insurance as a single premium PPI policy.

    Mr A took out a personal loan with RBS in 2006, purchasing a PPI policy alongside the loan to protect his repayments………

    http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=65352

    see also

    http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=41722

    and

    http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=10922

    Also see the insurance policy here

    http://www.rbs.co.uk/content/personal/loans/other_options/downloads/LoanGuard.pdf
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608.1K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 248K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards