Life Insurance DD doubled in 7yrs

vendee_2

Hi..we have just been going through all our paperwork and came across my husbands 'Term Assurance' (Legal & General) which he bought before we were married. It is a 30 yr policy that was purchased in November 2001. What we cannot understand is the 'guaranteed monthly premium' says £8.90 with terminal illness cover provided at no extra charge....But the monthly payment that is being taken from his bank account is £17.36. He said he never even noticed the change I have managed to find bank statements dating back to 2005/2006 and his payment is £17.36. He says he didn't choose the Index linking option and has not changed the type of cover or his job. He will be writing to them 1st thing tomorrow but can anybody throw any light on this or are we missing something obvious Thanks

dunstonh

Was the pre underwriting price £8.90 and after underwriting it was increased to £17.36?

Or, is this a segmented policy with multiple segments of which the £8.90 chunk is just one segment?

Indexation would see an annual increase so you can rule that out.

vendee_2

I'm afraid the only paperwork I can find says...
Guaranteed monthly premium £8.90

The monthly premium includes: the cost of waiver benefit of £0.17

The Terminal Ilness Cover is at no extra charge

Your premiums pay for the cost of life cover, waiver of premium cover, remuneration, expenses, charges and other adjustments.

I will try and find more p/work but it was all kept together when he bought a pension the same day.

dunstonh

Is that the illustration that was issued pre-sale or is that the policy document issued after underwriting?