Loan protection insurance

veejayah

I checked insurance cover for Midland (now HSBC) bank loan my husband took out on £10,000 for his small business to cover sickness etc if he couldn't work, a charge was put on our home and It was done through and on advice of bank where he had business account with overdraft and out personal joint accounts . When he became ill his claim was turned down because he didn't know it wouldn't cover him as a director of the company. He'd been doing business with the bank for some years, had regular contact with the manager and they knew he was a director. but this was not pointed out to him although it would have been somewhere in the policy. The payments that had been made were refunded at the time but we were left with a loan that needed to be paid. Is it possible to make a claim for the loan?

[Deleted User]

If a loan is not wanted, it simply needs to be repaid. There's no need to make a complaint about it.

SonOf

Is it possible to make a claim for the loan?

No. If you borrow money, you need to repay it.

Bermonia

There is nothing in your post to suggest the loan was in anyway mis-sold - even if there were you would’ve been required to have made your complaint within 3 years of the claim being rejected.