Mortgage Protection Plan

veher

Hi

I took out this plan amlomst 9 years ago and it covers sickness, unemployment and life cover. I feel that at this time I was mis sold this as I have these and had all of these through my employment. My emplomnet would be 6 months full pay, 6 months 1/2. A lump sum if I died in service and a generous redunacnay package. Please can you advise. At the time I was tole I needed to take this out

-SDW-

bank told me i needed to take mppi out as i was self employed ..i put a claim in and fos has just upheld it ..took 2 years though..

dunstonh

veher wrote: »

Hi

I took out this plan amlomst 9 years ago and it covers sickness, unemployment and life cover. I feel that at this time I was mis sold this as I have these and had all of these through my employment. My emplomnet would be 6 months full pay, 6 months 1/2. A lump sum if I died in service and a generous redunacnay package. Please can you advise. At the time I was tole I needed to take this out

The answer is "depends". 9 years ago most ASU plans would pay into the mortgage even if you had sickness protection. So, whilst you had some sickness protection from work, you effectively had double cover but you are allowed to with a number of ASU plans and some MPPI plans.

Redundancy package is irrelevant.

You have some potential for a valid complaint on the sickness side. However, it would depend on what you told them at the time about your work package. Or more importantly, what they documented at the time about your work package.

veher

Thanks, for this. What is the best was to proceed?

veher

Many thaks, dod this include cover for you mortgage?

dunstonh

You complain on the basis of you having employer sick pay for 6 months full, 6 months half and that you had no financial need for the ASU.

veher

Is this just a letter to them from me or is there a standard letter?

dunstonh

You can either write a letter to them (short and sweet as your reason is simple) On paragraph is enough. Or you can complete the PPI questionnaire which is available on this site somewhere.

magpiecottage

dunstonh wrote: »

You complain on the basis of you having employer sick pay for 6 months full, 6 months half and that you had no financial need for the ASU.

You can indeed - although "NOW you tell us - if you had said so at the time we wouldn't have recommended it" may be a reasonable defence.

dunstonh

magpiecottage wrote: »

You can indeed - although "NOW you tell us - if you had said so at the time we wouldn't have recommended it" may be a reasonable defence.

That was my hint in post #3 about what they documented. If the OP told them he didnt have sickness cover and they documented that then it is not their fault.