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Unit Linked Whole life Assurance
andyc1965
Posts: 7 Forumite
I have a unit linked regular premium Whole life policy with Barclays Life Assurance.
To my amazement i have recieved a 30 day notification, that if i do not agree to raise the monthly premium by a significant amount my whole life cover section of the policy will be reduced significantly.
I have been paying this policy for at least 15 years.
Do i have a case for compensation.
To my amazement i have recieved a 30 day notification, that if i do not agree to raise the monthly premium by a significant amount my whole life cover section of the policy will be reduced significantly.
I have been paying this policy for at least 15 years.
Do i have a case for compensation.
0
Comments
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Do i have a case for compensation.
No.
They are well within their rights to do that and it was in the contract from day 1.
You should find, if still in good health, that you can get an IFA to replace it with a non-invested whole of life assurance and it should be cheaper. Life cover has come down in cost and the removal of the investment element should reduce the cost. This will offset your increase in age.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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