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  • FIRST POST
    • Trouncer2002
    • By Trouncer2002 4th Dec 17, 4:24 PM
    • 4Posts
    • 0Thanks
    Trouncer2002
    Mis sold Critical Illness - Advice needed
    • #1
    • 4th Dec 17, 4:24 PM
    Mis sold Critical Illness - Advice needed 4th Dec 17 at 4:24 PM
    Can anyone help ? .......

    I was sold 'Critical Illness' cover on two of my mortgages. It was to cover mortgage payment if I ver had CI. The forms I signed indicated I was of good health and no illness now or in the future (non-smoker etc.). I was also in full employment which would have paid at least 3 times my salary which would have covered the mortgage amount at the time. This was in 1997 !

    The financial company was taken over by another finance company which, I believe, went into 'default' and to make compensation inquiries to the FSCS. However, the FSCS told me to fill in the online form. When I did this, and filled in the names of the company who advised me, it came back with the message :-

    Sorry, you can't claim for compensation.

    Was there a cut off date to make CI claims ? Do I not have any other option other than the CAB ? Has anyone been to the CAB on something like this and had feedback ? Success ? .......or should I forgot this whole thing ?

    If anyone could help it would be much appreciated otherwise will I just have to accept I lost money from the mis selling CI to me ? - Thanks
Page 1
    • Moneyineptitude
    • By Moneyineptitude 4th Dec 17, 5:45 PM
    • 18,906 Posts
    • 10,122 Thanks
    Moneyineptitude
    • #2
    • 4th Dec 17, 5:45 PM
    • #2
    • 4th Dec 17, 5:45 PM
    The forms I signed indicated I was of good health and no illness now or in the future
    Originally posted by Trouncer2002
    How could you sign a form indicating that you would never be sick in the future?
    I was also in full employment which would have paid at least 3 times my salary which would have covered the mortgage amount at the time.
    Originally posted by Trouncer2002
    That assumes that you would continue working for that employer, something you could not predict 20 years ago.
    This was in 1997 !
    Originally posted by Trouncer2002
    So Pre-Regulation of General Insurance.

    the FSCS told me to fill in the online form. When I did this, and filled in the names of the company who advised me, it came back
    Originally posted by Trouncer2002
    FSCS could only help if the alleged mis-selling took place after January 2005. Your sale was eight years prior to that.

    In all honesty, you don't appear to have had a valid complaint and have no one left to complain to anyhow.

    It's game over.

    Sorry.
    • Nearlyold
    • By Nearlyold 4th Dec 17, 5:48 PM
    • 985 Posts
    • 817 Thanks
    Nearlyold
    • #3
    • 4th Dec 17, 5:48 PM
    • #3
    • 4th Dec 17, 5:48 PM
    As Moneyineptitude says above you are not going to get anywhere with this.

    Your reasons why were you were miss sold don't make sense, you wouldn't have got 3 times your salary from your employer if you were unfortunate enough to suffer a critical illness, it would only be if you died.

    If you hadn't have been in good health when you applied for the cover you probably wouldn't have been accepted for the cover. I worked in insurance for 20 years and have never seen an application form that asks about your future health??
    • Moneyineptitude
    • By Moneyineptitude 4th Dec 17, 5:59 PM
    • 18,906 Posts
    • 10,122 Thanks
    Moneyineptitude
    • #4
    • 4th Dec 17, 5:59 PM
    • #4
    • 4th Dec 17, 5:59 PM
    , you wouldn't have got 3 times your salary from your employer if you were unfortunate enough to suffer a critical illness, it would only be if you died.
    Originally posted by Nearlyold
    Yes, sounds like a "Death In Service" benefit rather than company sick pay. No overlap with Critical Illness Cover
    • dunstonh
    • By dunstonh 4th Dec 17, 6:01 PM
    • 89,930 Posts
    • 56,605 Thanks
    dunstonh
    • #5
    • 4th Dec 17, 6:01 PM
    • #5
    • 4th Dec 17, 6:01 PM
    Duplicate thread : http://forums.moneysavingexpert.com/showthread.php?t=5755183

    If a board guide spots it, please can they merge
    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.
    • Deewm76
    • By Deewm76 6th Dec 17, 3:59 PM
    • 9 Posts
    • 4 Thanks
    Deewm76
    • #6
    • 6th Dec 17, 3:59 PM
    • #6
    • 6th Dec 17, 3:59 PM
    Critical illness pays out in a lump sum?? Usually your remaining mortgage balance. The health questions relate to your health at commencement. I agree (think you are relating to Death in service benefit) with usually runs alongside your private pension.
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