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I took out insurance policy to cover a loan now it cost more…

Customer Question
I took out insurance...

I took out insurance policy to cover a loan now it cost more than what the loan is worth can I cancel the policy

Lawyer's Assistant: What state are you in? It matters because laws vary by location.

Queenland

Lawyer's Assistant: Has anything been filed or reported?

No

Submitted: 10 months ago.Category: Australia Law
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Answered in 5 minutes by:
9/24/2017
Solicitor: Leon, Solicitor replied 10 months ago
Leon
Leon, Solicitor
Category: Australia Law
Satisfied Customers: 46,948
Experience: BEc Dip Ed, Dip Law (SAB) MTax (UNSW)
Verified

Hi, I am Leon, a NSW Solicitor. I will be assisting you with your question. If you choose a telephone call, you will be charged an additional fee.

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Solicitor: Leon, Solicitor replied 10 months ago

Good Morning

Is it a requirement of the loan that you have the insurance?

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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