Mortgage Protection Insurance - Assurant

dunstonh

Being a cynic, I'm sure they are only paying after they got legal advice they could be in for much worse if they dont

Thats not been cynical. If it was identified that a number of policyholders were not informed then they have an obligation to give notice. The odd letter going missing is not unusual and they would get away with that. However, they probably found errors at their end and couldn't identify who did or didn't get a letter.

Woby_Tide

ah, that explains the unexpected money in my account today (all £17...)

MattE

!!!!!!_here wrote: »

Bumpity-bump. Anybody ?

now past the 8 weeks they get to resolve so I'm referring to the Ombudsman - anyone else got anywhere?

In my girlfirends compliant they have replied saying the increases were due to inflation and an increased level of claims. Now considering inflation and unemployment are by historical standards both low I think they've had a serious error in their premium pricing models - I think it's unfair to ask existing policy holders to correct this (especially when no where does it say the premium is variable) - an error the shareholders should be wearing.

OshayAway

movilogo wrote: »

That's why these insurances are not worth the paper they are written on! These payouts are very difficult to get and insurance companies will try their best to refuse/reduce the pay.

A bit of a generalism perhaps? This type of policy does have its place and in many cases can prove invaluable in protecting financially in certain circumstances and can be the difference between someone loosing their home or not. No one who knows what they’re on about would argue that it is more comprehensive than PHI but, like with so many types of insurance, some are better and more comprehensive than others.

In my opinion, threads like this just go to highlight the fact that researching certain insurances yourself, simply opting for the cheapest option and not seeking advice can prove very costly. It's the age old issue of price vs value.
The policy I have covers back / neck / joint problems & anxiety / stress / depression. These are by far the main causes for individuals being off work in the UK. Most ASU / MPPI policies have standard exclusions to prevent claiming on these (or at the very least make it almost impossible). In addition to that, they boast a 92% successful claim rate. Interestingly, most companies don't publish theirs... why might that be?

True, it was very slightly more expensive than the cheapest options in the MPPI article on here but for me was a 'no-brainer'. I'm even more glad I opted for this policy now!