100% Mortgage Lender default protection

dunstonh

1994 MIG was issued by the bank itself. There wasnt a third-party market. Mig was more of a charge than an insurance policy.

I think my mate worked directly or indirectly selling insurance for the bank, which I think was Lloyds.

1994 and Lloyds saw bank insurance agents tied to Black Horse Life. They had no MIG product. Lloyds did have MIG but it was not collected like an insurance product would be and no agent/adviser was involved. When Lloyds moved to C&G mortgages, they stopped charging MIG.

So, either your mate sold you something else (not that Lloyds had any single premium insurance back then - apart from an investment bond) or he was !!!!!!!!ting you. Lloyds bank staff were not paid any commissions on any insurance products. However, Black Horse Financial Services staff were but they only included Life and Pensions products. Not general insurance.