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Adding Loan Protection To An Existing Loan
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fightstar87
Posts: 39 Forumite
in Loans
Just wondering, I've got a loan with HSBC, is it possible to add their loan protection to my account? I have no immediate worries about unemployment, but would like the peace of mind that it gives.
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Comments
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Get payment protection from another company there are lots of them around. You will get better value cover for your money.0
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Agree with tictac.
Also Protection is only available at the loan outset. The only way the Bank can issue would be to redo another loan, at todays rates, with the Loan Protection. May not work in your favour.
Worth reviewing outside.It is better to be prepared for an opportunity and not have one than to have an opportunity and not be prepared0 -
In answer to the OP's question, no it's not possible. You may also want to look at a good quality PHI cover rather than a cheapo loan protection insurance.0
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Income protection insurance is what we have and it protects our income basically... you can cancel when you want and choose a back to day one policy and also you get no interest on it.0
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