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  • FIRST POST
    • phillw
    • By phillw 29th Aug 17, 8:12 AM
    • 811Posts
    • 402Thanks
    phillw
    Decreasing life cover
    • #1
    • 29th Aug 17, 8:12 AM
    Decreasing life cover 29th Aug 17 at 8:12 AM
    I paid this for a short time after buying a house on my own, before realising that without dependants and "death in service" from my employer then I didn't need the cover. It wasn't from the mortgage provider, but was sold to me by the mortgage adviser.

    I've not tried to make a PPI claim as I could see that it would be difficult to argue that I was missold & I wasn't sure whether third party insurance was covered.

    With talk of a claim deadline and the changes bought by Plevin, I was wondering if anything could actually be done. If so, what do I do?
Page 1
    • zx81
    • By zx81 29th Aug 17, 8:14 AM
    • 13,184 Posts
    • 13,494 Thanks
    zx81
    • #2
    • 29th Aug 17, 8:14 AM
    • #2
    • 29th Aug 17, 8:14 AM
    Life cover isn't PPI.
    • dunstonh
    • By dunstonh 29th Aug 17, 8:56 AM
    • 89,497 Posts
    • 54,955 Thanks
    dunstonh
    • #3
    • 29th Aug 17, 8:56 AM
    • #3
    • 29th Aug 17, 8:56 AM
    I paid this for a short time after buying a house on my own, before realising that without dependants and "death in service" from my employer then I didn't need the cover.
    Death in service is discretionary and not guaranteed (i.e. employer can withdraw it - as many have been doing as they move away from final salary schemes).

    The purpose of death in service is to give a small amount towards short term loss of income and reduced pension entitlement. It is not intended to be used for debt provision. Advisers can eliminate death in service when looking to cover a mortgage.

    I've not tried to make a PPI claim as I could see that it would be difficult to argue that I was missold & I wasn't sure whether third party insurance was covered.
    Plus, its not PPI. So, making a PPI complaint would be pointless.

    With talk of a claim deadline and the changes bought by Plevin, I was wondering if anything could actually be done. If so, what do I do?
    Plevin has nothing to do with life assurance.
    There appears to be no wrongdoing here. So, nothing for you to do.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Moneyineptitude
    • By Moneyineptitude 29th Aug 17, 4:59 PM
    • 19,285 Posts
    • 9,394 Thanks
    Moneyineptitude
    • #4
    • 29th Aug 17, 4:59 PM
    • #4
    • 29th Aug 17, 4:59 PM
    I've not tried to make a PPI claim
    Originally posted by phillw
    You need to understand that to complain about PPI, you need to actually have Payment Protection Insurance. You didn't have PPI!

    Life insurance is no more PPI than car insurance is, but you can still complain it was mis-sold if you have valid reasons for doing so. However, your "Death In Service" employment benefit does not illustrate you had no need for Life Insurance on your mortgage, I'm afraid.

    Since Plevin and, indeed, the "claim" deadline refer to PPI they are both irrelevant to any Life Insurance complaint you might make.
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