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Loan Protection

Mike_Day
Mike_Day Posts: 1 Newbie
in Loans
My Mum and Dad took a HSBC flexi loan out with the Payment protection, my Mum passed away 6 weeks ago does the payment protection cancel the loan due to the death?

Comments

  • bengalknights
    bengalknights Posts: 5,022 Forumite
    Part of the Furniture 1,000 Posts
    Best to contact them and find out as they may have terms that state loans taken out jointly have to be paid by either partner.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Ask the insurer.

    If she's second named, probably not.
  • _Andy_
    _Andy_ Posts: 11,150 Forumite
    The loan protection covers just accident sickness and unemployment so doesn't pay out a lump sum.
    That said, don't take my word for it (or anyone else here), ring the company to check.
  • [Deleted User]
    [Deleted User] Posts: 0 Newbie
    Mortgage-free Glee!
    some lenders who offered PPI also offered death insurance as an extra/alternative,but PPI doesnt cover death
  • jonesMUFCforever
    jonesMUFCforever Posts: 28,898 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    woodbine wrote: »
    some lenders who offered PPI also offered death insurance as an extra/alternative,but PPI doesnt cover death
    I think it depends on the bank.
    LTSB does.
  • opinions4u
    opinions4u Posts: 19,411 Forumite
    Halifax ppi always provided life cover for the first named.
This discussion has been closed.
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