Can PPI be hidden within the loan?

diggerproud
diggerproud Posts: 9 Forumite
First Anniversary Combo Breaker
in Reclaim PPI & other insurance
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?

Comments

  • dunstonh
    dunstonh Posts: 116,318 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    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 an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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