Morgage PPi

juls1_2

Hi its me again

Thanks to all who have answered before really helpful,

I have just found on some of my morgage statements that we paid Income protection for a couple of years then we cancelled it, I hav the morgage details and the cancellation letter and the statements does anyone know if I can claim this back? it was for sickness redundancy etc.

Cheers

dunstonh

does anyone know if I can claim this back?

no you cant.

Just because you pay for an insurance for a period, does not mean you can reclaim the premiums back if you didnt make a claim.

roonaldo

juls1 wrote: »

Hi its me again

Thanks to all who have answered before really helpful,

I have just found on some of my morgage statements that we paid Income protection for a couple of years then we cancelled it, I hav the morgage details and the cancellation letter and the statements does anyone know if I can claim this back? it was for sickness redundancy etc.

Cheers

Why? Insurance is not illegal or wrong to have.

magpiecottage

What a brilliant idea. You took out insurance, were fortunate enough never to claim and now you want your money back.

That money was used to pay:

the claims of policyholders less fortunate than you;

pay the insurer's staff who also need to earn a living;

pay for its own premises;

pay toward the cost of the FSA's premises in Canary Wharf - some of the most expensive office space in the world;

pay toward the cost of FSA staff - the chairman of the FSA was paid £482,000 in 2009 and the CEO £872,000 (apparently he gave £130,000 that to charity but it still had to be paid for) and there would be roughly 10% National Insurance on top plus other expenses;


Pay levy toward the cost of running the Financial Ombudsman Service (in addition to fee of £500 for each case after the fourth in any year taken to FOS - no matter how unjustified it is);

Meet its own costs of investigating complaints against it whether justified or not;

Pay a substantial levy to the Financial Services Compensation Scheme to meet the cost of compensating customers of totally unrelated companies that have gone bust.



So if there customers also demand their money back simply because the have changed their minds they will go bust too.

juls1_2

Hi

Sorry I think your all missing the point, I did not know I was paying it and when I found out I cancelled it. So again my question is it possible to claim back

dunstonh

Sorry I think your all missing the point, I did not know I was paying it and when I found out I cancelled it.

Forget any emotion you have attached to it. Lets look at it from the outside.

You signed to say you wanted it. You received cancellation rights and a policy schedule about it. You paid for it every month. Yet despite all that, you say you didn't know you were paying it. Does that look plausible to you?

So again my question is it possible to claim back

Have you got any evidence to support your accusation of mis-sale?
How long ago was this?
Was it via a lender or broker?

magpiecottage

When did you take the policy out, when did you cancel it and who sold it to you (i.e. the name of the mortgage broker's firm).

roonaldo

juls1 wrote: »

Hi

Sorry I think your all missing the point, I did not know I was paying it and when I found out I cancelled it. So again my question is it possible to claim back

You mean you forgot about it?

_Andy_

The threads on these forums are getting worse by the day

What next, "I paid a delivery charge for my Tesco delivery, can I reclaim?"

"I bought two loaves of bread from the supermarket but only ate one, am I due compensation?"

!!!!!!

magpiecottage

_Andy_ wrote: »

The threads on these forums are getting worse by the day

What next, "I paid a delivery charge for my Tesco delivery, can I reclaim?"

"I bought two loaves of bread from the supermarket but only ate one, am I due compensation?"

!!!!!!

Some years ago my wife rang me at work to say she had crashed her car into a grass bank.

The boss suggested it was the bank's fault for being there and we should complain to the Banking Ombudsman!

~Brock~

_Andy_ wrote: »

The threads on these forums are getting worse by the day

What next, "I paid a delivery charge for my Tesco delivery, can I reclaim?"

"I bought two loaves of bread from the supermarket but only ate one, am I due compensation?"

!!!!!!

The problem exists because there is a complaints mechanism (i.e. FOS) that is open to abuse by being able to put in the most spurious and far fetched complaints, thus wasting everybody's time, without any form of recourse to the complainant.

There are those - and I don't just mean CMC's (although they are by far the worst) who are happy to encourage any form of try-it-on complaint 'just to see' of they can get a quick win.