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  • FIRST POST
    • frenchfilly
    • By frenchfilly 3rd Dec 17, 7:29 AM
    • 1Posts
    • 0Thanks
    frenchfilly
    limited term life insurance
    • #1
    • 3rd Dec 17, 7:29 AM
    limited term life insurance 3rd Dec 17 at 7:29 AM
    Hi, we were sold life insurance policies in 2000, a 10 year policy for my husband who was 40 at the time, and a 20 year one for me, i was 38, it wasn't until his ran out in 2010, that we realised how useless this was and perhaps we were talked into a policy that was not suitable for us at the time, do we have any grounds for a claim?
Page 1
    • zx81
    • By zx81 3rd Dec 17, 8:18 AM
    • 14,355 Posts
    • 15,111 Thanks
    zx81
    • #2
    • 3rd Dec 17, 8:18 AM
    • #2
    • 3rd Dec 17, 8:18 AM
    Why were they unsuitable? They only pay out if you die.
    • Moneyineptitude
    • By Moneyineptitude 3rd Dec 17, 9:48 AM
    • 18,889 Posts
    • 10,114 Thanks
    Moneyineptitude
    • #3
    • 3rd Dec 17, 9:48 AM
    • #3
    • 3rd Dec 17, 9:48 AM
    it wasn't until his ran out in 2010, that we realised how useless this was
    Originally posted by frenchfilly
    Young people die all the time. You won't get a refund of Life Insurance just because you didn't suffer a claimable event. This is not PPI.
    • Nearlyold
    • By Nearlyold 3rd Dec 17, 10:54 AM
    • 984 Posts
    • 817 Thanks
    Nearlyold
    • #4
    • 3rd Dec 17, 10:54 AM
    • #4
    • 3rd Dec 17, 10:54 AM
    Hi, we were sold life insurance policies in 2000, a 10 year policy for my husband who was 40 at the time, and a 20 year one for me, i was 38, it wasn't until his ran out in 2010, that we realised how useless this was and perhaps we were talked into a policy that was not suitable for us at the time, do we have any grounds for a claim?
    Originally posted by frenchfilly
    If your husband is still alive then you have no grounds for a "claim". If you wanted your husband to have continuing life cover you could have applied for another policy. Even if you were to try and cobble together some sort of complaint that the policy only lasted 10 years you would be time barred anyway as you knew 7 years ago the policy had ceased which is well over the three year limit. Please don't spend anymore of your time on this, I'm afraid there will be no compo coming your way.
    • haras_nosirrah
    • By haras_nosirrah 3rd Dec 17, 11:14 AM
    • 1,322 Posts
    • 2,467 Thanks
    haras_nosirrah
    • #5
    • 3rd Dec 17, 11:14 AM
    • #5
    • 3rd Dec 17, 11:14 AM
    Did you go for a shorter time period as it was cheaper? Why did you choose to end his earlier - was he more expensive to insure and therefore you wanted to end his when the kids were no longer dependent?

    We see it all the time where people only look at the short term and choose a shorter term policy because of cost. They then realise that to get another policy when they are older is insanely expensive but that is the gamble.
    I am a Mortgage Adviser
    You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.
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