Personal loan protection query

KateG2791

I have recently received my annual review pack for my personal loan payment protection policy. This is a policy I took out so its not a mis-selling query. 
On reading the document, I note a change to the T&C from last year:
1) They state that any claims "in any way caused or resulting from COVID-19, SARS-COV-2 or any mutation thereof" is specifically excluded under the T&C of my policy. 
2) The policy T&C has been updated to reflect that no benefit will be payable as a result of the above. 
Are they allowed to make changes to the T&C from year to year?
The whole idea of taking out this policy was in case I was to be made redundant and therefore would struggle to afford the loan payments. However, IF I lost my job as a result of the COVID-19 pandemic, does that mean that I can't make a claim on this policy? 
If that is the case, there doesn't seem much point in continuing making the monthly payment if they wouldn't pay out. 
Any advice welcome!
Thanks,

[Deleted User]

Yes, that's correct.  It's a monthly policy.

dunstonh

However, IF I lost my job as a result of the COVID-19 pandemic, does that mean that I can't make a claim on this policy?

Yes

If that is the case, there doesn't seem much point in continuing making the monthly payment if they wouldn't pay out.

They would pay out if it wasnt releted to CV.

This is a problem with annually renewable plans.  They can amend terms at each renewal.   As you have hit the renewal date, CV is now a known issue and is no longer an unknown issue.

KateG2791

Had a letter today from the PPI company regarding this issue and it is good news in that they have decided to cancel the changes they made to the T&C regarding COVID-19, so that's great. Hopefully I won't need to claim.