Loan Protection insurance, which is optional and not a condition of taking out the loan, may enable you to meet your monthly loan repayments in the event of your unemployment, accident or sickness. It may also provide you with critical illness cover, life cover and hospitalisation cover. |
Your level of cover:
Our Loan Protection product has been Awarded Five Stars for quality of cover by Defaqto. This independent rating is based on the features and benefits of our Loan Protection product.
Defaqto is an independent financial research company that scores products for quality across a wide range of features and benefits using a unique benchmarking system called Product DNA. Defaqto then assigns a star rating to each product. The highest rating of 5 Stars is awarded to the top 10% of policies. Loan Protection was awarded a 5 Star rating in February 2007.
If your circumstances change during the term of your loan agreement, it may affect the benefits you are eligible for under your Loan Protection insurance policy. For example, if, while claiming you reach the age of 65, any unemployment or accident or sickness benefit payments will stop.
You can only apply for optional Loan Protection insurance when you apply for your loan.
In order to get the reassurance of Loan Protection, you must include it as part of your loan application.
You can apply for both a Personal loan or an Internet Banking Loan online.
Online now
While applying online for your loan, make sure that you click on the ‘Yes' button to confirm you want to take out our optional Loan Protection.
By phone
Call 0800 092 1290. Please remember to tell us that you want to include optional Loan Protection in your application.
Your local branch
Get an application form from your local branch, complete it and give it to one of our staff, along with proof of identity.
A quick guide to your Loan Protection Insurance*
For full terms and conditions of your Loan Protection Insurance, please refer to the Policy Document*.
You can only apply for optional Loan Protection insurance when you apply for your loan.
In order to get the reassurance of Loan Protection, you must include it as part of your loan application.
You can apply for both a Personal loan or an Internet Banking Loan online.
Online now
While applying online for your loan, make sure that you click on the ‘Yes' button to confirm you want to take out our optional Loan Protection.
By phone
Call 0800 092 1290. Please remember to tell us that you want to include optional Loan Protection in your application.
Your local branch
Get an application form from your local branch, complete it and give it to one of our staff, along with proof of identity.
A quick guide to your Loan Protection Insurance*
For full terms and conditions of your Loan Protection Insurance, please refer to the Policy Document*.
Defaqto is an independent financial research company that scores products for quality across a wide range of features and benefits. Using a unique scoring system Defaqto then assign a star rating to each product. The highest rating of five stars is only awarded to products which meet a certain benchmark. Our Loan Protection product has been awarded a Five Star rating for quality of cover for the second year running.
For Loan Protection Insurance Policies purchased on or before 31 December 2006, your Loan Protection Insurance Policy is underwritten by Lloyds TSB General Insurance Limited, registered in England (Company No. 204373): 25 Gresham Street, London EC2V 7HN and The Prudential Assurance Company Limited, registered in England (Company No. 15454): Laurence Pountney Hill, London EC4R 0HH. For Loan Protection Insurance Policies purchased on or after 1 January 2007, your Loan Protection Insurance Policy is underwritten by Lloyds TSB General Insurance Limited and Scottish Widows plc, registered in Scotland, registered office in the United Kingdom at 69 Morrison Street, Edinburgh EH3 8YF. All of these insurers are authorised and regulated by the Financial Services Authority (FSA).
Click here for the Consumer Guide to Loan Protection.
The Financial Services Authority has rules to remove the risk of your monies being misplaced whenever we (Lloyds TSB Bank plc and Lloyds TSB Scotland plc) and other firms hold these monies. In relation to the loan protection insurance policy which you have taken out, your money will include the premiums you are required to pay and refunds of these premiums. As you have taken out a loan protection policy connected to your loan, your money will also include monies paid to us by the insurer following a successful claim and applied directly to your account. In relation to all monies, we hold them in our capacity as a bank approved by the Financial Services Authority not as a trustee for you (or in Scotland as an agent for you). As a result we are not required to apply the Financial Services Authority’s client money rules to those monies.
* To use this application free of charge please use this link to go to the Adobe website. Although Lloyds Banking Group plc takes every precaution in ensuring that the files available for you to download from this site are virus free, we cannot guarantee that the file you are about to download is free from viruses or other similar codes or programs.
Therefore please run virus checking software before using the downloaded files.