adding insurance on to a loan

[sammisue]

co-signed for a loan for car.signer didnt make 1 payment,which i did.have been paying loan eversince,loan company now sent me a "insurance policy"in the amount of $347.04 which they have added on to my loan. loan is over 8 months old. is this legal? I live in pa.

 

[loku]

Insurance policy on loan guarantor

They have a right to require a life insurance policy on you if the loan agreement gives them that right. If the agreement does not give them the right, then you should not have to pay for the insurance.