In some cases, yes. Some of the sales practices bordered on fraudulent. Especially where the single premium, front loaded policies attached to loans were concerned (although it consumer debt addiction in this country is also partly to blame.) Student loans were one of the products the banks didn't really latch it onto but the ones sold here are a different beast to those in the US. I agree though, the product isn't bad in and of itself, it was simply mis-sold, which unfortunately has wrecked its reputation. Elsewhere in Europe it is not unusual for lenders to recommend taking out life insurance and/or critical illness/accident policies with larger loans.
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