Credit Card Insurance - Ill health Redundancy

reebie_peebie

Hi Everyone

Hope you can all help in one or another as I desperate for information and not had much luck from the CAB.

I have four credit cards and though not massively in debt I suppose I'm about average to most people in debt. I pay credit card insurance for sickness,unemployment etc, can't ever remember filling in forms for this and think I was asked over the telephone or it was there on my statement? I was made to take Ill health retirement 30th June 2008 after nearly 12yrs of employment, I was forced to take the redundancy and I went through a lengthy grievance procedure to uphold the retirement which I failed but I have a tribunal case coming up very soon to fight this.
To cut the story short I've been on benefits ever since and even though I've been paying the minimum payments every month I've only just remembered in November last year that I was paying insurance on my credit cards and decided to ring one of the visa cards up as I'm still paying £60 a month and told them I've been made redundant. The visa company went through the details with me, I told them a was made redundant on ill health grounds and was still at work when I was retired and because of this the visa company said it was voluntary redundancy and not Involuntary (or the other way round) and I wasn't entitled to claim anything. I haven't cancelled the insurance even though I can't afford it incase I can backdate a claim or I can't claim when I stop paying the insurance? I told them I was forced to leave re the court case coming up next month which to me I'm on sickness benefits now and also unemployed so doesn't that stand for something when I've been paying the insurance for years.
Would like to hear from anyone that has any advice and can help .

mikegilbert

Hi, there are several ways you can tackle this as I know of similar situations. Firstly as you feel that you were enforced to retire / take redundancy then it was not volentary and so the insurance should kick in and pay. If you retired / redundancy through ill health then it should also kick in and pay. You may need to substantiate this through a letter from your doctor. They , the insurers will almost certainly dispute this, hoping you will just go away. You CAN claim for backdated sickness, again you will need to verify this through your GP. This will probably cost you money. If you add up what you might get through the sickness insurance and assuming you are out of work for 12 mths (usual max amount payable) you need to consider what is your best option, ie fight for insurance payout for sickness and unemployment or fight for misselling as you were not aware of policy and does not fit your needs. Were you covered by sick scheme in work?. Whatever you decide DO NOT cancel policy at the moment. I know it is a struggle at moment, its also very worrying and stressful but be strong and resolute. If you need more help keep posting here and someone will help. Mike

mikegilbert

P.S. I know this doesnt apply at the moment for you because they turned down your claim by telephone , dont forget that if you claim on your insurance and are successful and they pay out anything on the policy then you cant claim that it has been missold to you. So be sure which path you want to take.

reebie_peebie

Hi Thanks for getting back to me.

I think I understand what your saying, what would you do in my position?