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re claiming loan insurance
mopar
Posts: 3 Newbie
Hello everybody, i `m not sure if this is where I put this 
but here goes.Back in july 2006 I took out an online loan from lloyds tsb,I don`t remember how I did it but I took out insurance,this was shown as part of the loan to pay the insurance at the start,I don`t think I even recieved the documents/policy, the loan has 32 months left to run,can I cancel the policy? help!
but here goes.Back in july 2006 I took out an online loan from lloyds tsb,I don`t remember how I did it but I took out insurance,this was shown as part of the loan to pay the insurance at the start,I don`t think I even recieved the documents/policy, the loan has 32 months left to run,can I cancel the policy? help! 0
Comments
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just looked at my aggreement,one part shows the cash loan,next to it is a section that says£895.49 (loan for loan protection insurance) 22.93 monthly (paid as one with the loan payment) total £1,352.87, there is a section that says"if you choose to purchase the "LPI",we will pay any LPI loan directly to the insurer to cover the price of the premium.If you decide to cancel the LPI policy the LPI loan will also be cancelled.The cash loan will continue and we will collect only the monthly repayment for the cash loan." am I right in saying that I can just cancel my "LPI" without any penalties?0
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