As Lisa says, the deed you have hold of is probably the one that assigns the insurance benefits to the mortgage lender in the event of a claim. But, as I say, there might have been an element of PPI charged.
My opinions are merely that .. opinions based on experience. Always seek professional advice.
IVA Completed 23rd July 2013 .... C.C. 10th January 2014 http://foggy.blogs.iva.co.uk