Abbey is Increasing My Mortgage Payment Protection

pizzaman1

I have just received a letter from Abbey stating that due to the "Economic Crisis" my MPPI has had to be increased, due to the amount of claims being made against them.

I have read the terms and conditions, but cannot find anywhere that states it could go up for this reason or similiar. The only rise in premium is stating that I have to increase my premium yearly to ensure I have enough cover.

Can they do this??

dunstonh

Can they do this??

Yes. Virtually all the plans that have unemployment cover built into them (or the option to have it) are on reviewable premiums and not guaranteed. As the risks go up, the price will go up. Just as the price went down when the risks went down.

pedro123456

Nice one dunstonh.........."Just as the price went down when the risks went down"

and just like our car insurance goes down every year when we dont make any claims.

Ang on the dont go down if we dont claim- they go UP.

silly me I stand erected.
.........................................................................................................


"I have read the terms and conditions, but cannot find anywhere that states it could go up for this reason or similiar"

ABI/Insurance comany Barristers will be working new T&C as we speak..........

Pete

stephenni1971

Pedro...

Perhaps you might want to get off your soapbox for a moment and stop using the forum as your own personal sounding box.

Please feel free to criticise if you wish, but do at least make an effort to make in CONSTRUCTIVE criticism.

pedro123456

Well thank you for your invitation to criticise etc stephenni, but I dont think I need you invitation

I will criticise constuctively or not, just as I see fit.

If I so wish I could do you some critical analysis but at this moment in time I dont so just leave me alone and refrain from commenting on or to me unless you are challenging my opinions or I cordially invite you.

Oh and can I ask what your role as IFA is on this furum?

Free Independent Finacial Advice for the needy?.............dint think so.

I often wondered about becoming a IFA..............what qualifications would I need stephenni 1971

Ta Pete

OshayAway

stephenni1971 wrote: »

Pedro...

Perhaps you might want to get off your soapbox for a moment and stop using the forum as your own personal sounding box.

Please feel free to criticise if you wish, but do at least make an effort to make in CONSTRUCTIVE criticism.

A valid point, well said :T

jonesMUFCforever

pedro123456 wrote: »

Well thank you for your invitation to criticise etc stephenni, but I dont think I need you invitation

I will criticise constuctively or not, just as I see fit.

If I so wish I could do you some critical analsis but at this moment in time I dont so just leave me alone and refrain from commenting on or to me unless you are challenging my opinions or I cordially invite you.

Oh and can I ask what your role as IFA is on this furum?

Free Independent Finacial Advice for the needy?.............dint think so.

I often wondered about becoming a IFA..............what qualifications would I need stephenni 1971

Ta Pete

Brains comes to mind ............:rotfl:

~Brock~

....and maybe a basic understanding of the concept of collective risk and the requirement to maintain the common pool?

OshayAway

pedro123456 wrote: »

Oshay sit down and shut up.....dink

LOL... why should I? I'm entitled to my opinion as well you know.

I was simply agreeing with stephenni1971 who very eloquently put a sentiment echoed by me and no doubt many others who actually do provide helpful information on this forum.

Your childish spouting nonsense has no perceived value whatsoever in my opinion. Are you a twelve year old just trying to wind people up?

Your 'put-downs' would be amusing if they weren’t so pathetic, so in that same spirit... take that... dink... or should that be dunce!

LinasPilibaitisisbatman

Pedro123456 - what happened? Could you not count any further.

You are clearly a complete !!!!ing tard and no doubt one of those who live outwith their means and try every scam going and expect the banks etc to act like a charity and facilitate their living outwith their means free of charge or at their cost.

pedro123456

lolo.............yep you,ve got me batman.........now crawl back in your hole and stay there.

Pete :-)