In some shock-think I have been given the wrong advice.Help please

happybroker

it depends what kind of cover it offers, doubt it would but without looking through the papers wouldn't be able to say for sure.

dimbo61

You need life assurance for yourself to provide money for your kids just in case anything happens to you !
Do you have a mortgage ?
Do you have any death in service benefits from your employer?
You should get the lump sum from the endowment, refund of all the premiums paid over the last 3 years, compensation for the loss of interest over the last 3 years and a letter of apology

VIGILANT22

Cinnamon09 wrote: »

She didn't ask me that!
I don't think I do need life assurance though.Would it pay out a second time though?

No it wouldn't...you have said you read on the policy " Your plan pays out at maturity or on the earliest death of those listed above) his and my name were both on it."

This means it was a joint policy and pays out as described above.. consider if you need insurance, your free to go to whichever company you want to........

Cinnamon09

dimbo61 wrote: »

You need life assurance for yourself to provide money for your kids just in case anything happens to you !
Do you have a mortgage ?
Do you have any death in service benefits from your employer?
You should get the lump sum from the endowment, refund of all the premiums paid over the last 3 years, compensation for the loss of interest over the last 3 years and a letter of apology

I should have explained they are now independant.So as such I have no dependants.

Should I get compensation for the loss of interest on the target amount,as well as the premiums?

How do I work out how much?

Thrugelmir

Cinnamon09 wrote: »

Should I get compensation for the loss of interest on the target amount,as well as the premiums?

How do I work out how much?

The insurance company concerned should automatically deal with this when making the payout of the sum assured and refund of premiums.

Cinnamon09

To update and for anyone else who finds thselves in the same position.
They paid back the premiums and the target amount plus 8% which is the figure a court would have suggested.this was the percentage I was trying to find out.as I didn't know what they would do I got a cmercial solicitor to handle it.they paid me £250 compensation.
I couldn't face dealing with thyself,and as they had been so incompetant I thought I would get nowhere fast.