Critical illness cover reclaim ??

Spitakimus14

Hi

after doing a well overdue budget we noticed two payments that we thought were life insurance .
One a payment of £107.02 to Scotish Provident and one to Halifax of £26.78
Because we couldn't find any paperwork for them i rang the Halifax bank that the dd come out of .
They tell me one is a TMP (TOTAL MORTGAGE PROTECTION) and ones a critical illness cover ,but both cover £35000
I have arranged for copies of the policies to be sent .
Now as these appear to correspond to times of re mortgage can i reclaim these as i did with payment protection on a loan ??

dunstonh

Now as these appear to correspond to times of re mortgage can i reclaim these as i did with payment protection on a loan ??

Highly unlikely any complaint would be accepted. These plans would have been sold under an advice process. So, that means a factfind, needs analysis and a suitability report. Typical financial need for CI cover is up to 10x salary plus debts. So, unless you have more than that, you are not over insured.

Also, it is unlikely that they were bought through the same adviser as Halifax are tied and Scot Prov sold via IFAs and Abbey National (for a while).

So, all the complaints reasons you can use for loan and credit cards wont apply. Its not single premium, they did know your circumstances and your needs, you do have a financial need and you were eligible (as they are medically underwritten at point of sale).