A bit of disappointing news from OR

MicheH

You all probably know i'm a little anxious at the moment and figured that getting new life assurance for DH and myself might help releive a bit of this. I emailed my case clerk who very kindly found out the answers to a lot of my questions regarding life assurance

The not so good news is that as an undischarged who wants to get a new policy we still have to pay £100 for the both of us to buy out the OR's interest so that's put a dampner on trying to build a little security. What I asked was if we get insured for an amount that would cover both our debts if one of us went and a little for a funeral then a little to life off would that be allowed. Seems the £100 is more important so we can't do it, we can't even start to save for this till at least after Christmas. Going to have to try to put the fact behind me that we havn't got any cover.

maxmycardagain

My mates wife died 2 years ago, it took SEVEN months to get the life insurance to payout and cover the balance of his mortgage

When he asked about the 6 months payments he had made he was told the "early settlement fee" (cos there was 5 years left on his mortgage) was just the same amount he had paid, so no refund

Forget cover/insurance/savings/pensions, ITS ALL A SCAM........

Holes_in_my_pocket

Totally agree i am medically retired from royal mail at age 40 , 9 yrs ago now i paid extra pension for the 11 yrs my extra contributions equat to £5 a month

skylight

The case clerk is talking rubbish. Any NEW insurance taken out after your BR has nothing to do with the OR and you should not be paying to buy back an interest that the OR doesn't have! The BR date is a new start and the majority of stuff after that has nothing to do with the OR.

I would run this one by someone like JSC1 or Fermi may be able to help more.

MicheH

Ah, right thank you! I'll keep an eye out for them

MicheH

All I know is my dad died when I was 10, our house became our security as it was covered by insurance, even though he died of cancer that he'd had for about 5 years.

We would have lost our home when I was a kid if it wasn't for that. My situation is different because we have already lost our home but I don't work now, I look after my girls and are studying. I guess it can't all be a scam????

maxmycardagain

ALSO, we lost our house 20 years ago, I worked 5 months at a new job, had a month on the sick

tried to claim off the insurance who quoted thier rule "claimants must have WORKED 6 months at any new job before claiming"

do i sound bitter at all?

skylight

I had insurance on a CC. When made redundant; or rather the scum owner ran off with the money, I was told that I need proof or being made redundant ie a P45 that the owner refused to issue! So no insurance payout.

We argued with car insurance payout years ago. Some small work from a small scratch for some reason meant an adjuster came out to view the car; no idea why one was sent but fortunately it was. It was a collectable car, an Orion in perfect condition and the adjuster lover the car and told us then it was worth £1800 and he would be prepared to buy it from us there and then as he was so impressed with it. Fast forward 2 weeks and the car was stolen (never recovered, stolen to order we think) and the same adjuster then valued the car at £1000..... We did win that arguement when the adjuster admitted what he thought 2 weeks prior and his offer.

And some other stories about Dads house insurance claim many years ago and another of an aunt on death insurance.

I dont think insurance is a scam as such. But its their job not to pay out and ours to fight it when it should be simple.

Holes_in_my_pocket

I had a big americian freezer which broke down and lost food also the defrosted ice stained carpet tiles i had . Insurance company paid for food but asked me how i had fitted carpet tiles i said with spray glue so they said its not covered by contents insurance as it is glued it is part of house and need to clam on building insurance lol we fought it and won

MicheH

OMG, so they really will try to wheddle out of paying. I guess you have to be strong. I wonder how many people would have backed down (probably me before BR.. not now though!)

I'm beginning to hate the people who are in the world we live in - you know where the only place you can go where you know you're getting genuine, honest help in this world.. HERE!

alastairq

if in employment, life cover can be had from Union membeship, etc?