loanguard insurance RBS

rbsmuppets

Have just received a PPI refusal from RBS and have been told I didn't have it, but I did pay every month for LOANGUARD INSURANCE. This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?

Plus I have found everybody at the bank very unknowledgable.

IAmWales

Have you provided proof of your payments?

For what reason do you believe you were missold?

I wouldn't be calling other people muppets when you fail to provide nearly enough information for us to advise on.

rbsmuppets

thanks to the rbs employee, do you need my name, account number, postcode ?

societys_child

This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?

That doesn't sound like PPI.

sun73

rbsmuppets wrote: »

Have just received a PPI refusal from RBS and have been told I didn't have it, but I did pay every month for LOANGUARD INSURANCE. This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?

Plus I have found everybody at the bank very unknowledgable.

According to a leaflet published by RBS in 2008 Loanguard insurance was a form of PPI. You could phone their PPI helpline or write and request a review of their decision. Was it included in your RBS loan payment, or was it listed separately every month? Do you have any statements showing the direct debits?

[Deleted User]

Life and Critical Illness Insurance is not PPI.

sun73

Loanguard is an umbrella term for insurance cover with RBS e.g. overdrafts, mortgages, and personal loans. It could also include a critical illness policy, especially with MPPI.

rbsmuppets

Thanks to all the replies. The Loanguard Insurance was added to the loan and increased the monthly payments.

Placida

rbsmuppets wrote: »

Have just received a PPI refusal from RBS and have been told I didn't have it, but I did pay every month for LOANGUARD INSURANCE. This covers sickness, death, redundancy etc - surely this is the same as PPI? Can anybody help please?

Plus I have found everybody at the bank very unknowledgable.

It seems the FOS consider Loanguard insurance as a single premium PPI policy.

Mr A took out a personal loan with RBS in 2006, purchasing a PPI policy alongside the loan to protect his repayments………

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=65352

see also

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=41722

and

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=10922

Also see the insurance policy here

http://www.rbs.co.uk/content/personal/loans/other_options/downloads/LoanGuard.pdf