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  • FIRST POST
    • houndofculaine
    • By houndofculaine 10th Oct 17, 10:22 PM
    • 9Posts
    • 3Thanks
    houndofculaine
    Scottish Widdows
    • #1
    • 10th Oct 17, 10:22 PM
    Scottish Widdows 10th Oct 17 at 10:22 PM
    I've been using one of those PPI companies to claim from Egg as they just ignored me (even though Barclaycard). So willing to put up eith this company 30% as 70% is better than nothing if they come through.
    But I notice they use a question about being a Civil Servant. Which seems a leading question. Like maybe they're suggesting mis selling if your in public service.
    Well I was. I worked for them for 28 years until I was medically retired this year. And that got me thinking. On my first mortgage I was told to take out life insurance with Scottish Widows to cover my first £40k mortgage. Was this mis selling? I've paid them for 23+ years. And when I contacted them about critical illness but this wasn't covered (my illness is an automatic pay out under crit illness).
    So I'm wondering if this was misold as the death benefit would cover this amount for my widow?
Page 1
    • zx81
    • By zx81 10th Oct 17, 10:26 PM
    • 14,389 Posts
    • 15,183 Thanks
    zx81
    • #2
    • 10th Oct 17, 10:26 PM
    • #2
    • 10th Oct 17, 10:26 PM
    Life insurance is generally a wise purchase. It wouldn't cover critical illness however.

    You would need a critical illness policy for that.
    • Moneyineptitude
    • By Moneyineptitude 10th Oct 17, 10:41 PM
    • 18,902 Posts
    • 10,121 Thanks
    Moneyineptitude
    • #3
    • 10th Oct 17, 10:41 PM
    • #3
    • 10th Oct 17, 10:41 PM
    On my first mortgage I was told to take out life insurance with Scottish Widows to cover my first £40k mortgage. Was this mis selling? I've paid them for 23+ years when I contacted them about critical illness this wasn't covered
    Originally posted by houndofculaine
    Life Insurance alone won't cover Critical Illness.

    It would have been your choice alone whether to take out additional insurance covering critical illness. This would have been significantly more expensive, of course.

    Insurance is not mis-sold simply because it doesn't cover possible eventualities which you haven't actually purchased cover for!

    Sorry.
    • dunstonh
    • By dunstonh 10th Oct 17, 11:24 PM
    • 89,900 Posts
    • 56,576 Thanks
    dunstonh
    • #4
    • 10th Oct 17, 11:24 PM
    • #4
    • 10th Oct 17, 11:24 PM
    But I notice they use a question about being a Civil Servant. Which seems a leading question. Like maybe they're suggesting mis selling if your in public service.
    For short term debts (loan and credit card) then PPI is often not suitable for those working in the public sector. For MPPI, that is not the case.

    And that got me thinking. On my first mortgage I was told to take out life insurance with Scottish Widows to cover my first £40k mortgage. Was this mis selling?
    Only if you are immortal.

    So I'm wondering if this was misold as the death benefit would cover this amount for my widow?
    And would it cover your reduced pension entitlement that she would get and cover her for all those lost years of income?
    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 an Independent Financial Adviser local to you.
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