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Personal Loan PPI Life Insurance
jonorb
Posts: 1 Newbie
Hi,I am new to this forum so I am unsure whether this question has been answered before. I took a personal loan out with Chartered Trust plc for £9000 in 1998 I have got a credit agreement policy for Life Only payment protection cover included in the loan which added £765.12 to the loan. My question is does anyone know if this cover was necessary and could come under a PPI reclaim. I was told that it was needed in order for me to get the loan. Also is it to late to register a claim.
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Comments
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PPI covers you if you cannot work due to accident, sickness or unemployment.
Life insurance covers your life and isnt PPI. You may well have needed life insurance to get the loan.0 -
Chartered Trust is owned by Lloyds Banking Group but is a limited company. As such, Lloyds is not directly liable for any claim against it.
Unfortunately, this sale predates the regulation of general insurance and, as far as I am aware, Chartered Trust was not subject to an Ombudsman scheme in 1998 - so FOS would be unable to assist.0
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