Mums Life Policy Lapsed

bevwedge

HI MY MUM TOOK OUT A LIFE POLICY BACK IN WAIT FOR IT DEC 1936 AT THE AGE OF 16 i HAVE JUST RECEIVED A LETTER FROM THE COMPANY NATIONAL DEPOSIT FRIENDLY SOCIETY TO SAY IT HAD LAPSED ON 30TH JAN 1952 SHE PAID THIS FOR 16YRS AND SHE OBVIOUSLY BELIEVED THAT WHEN SHE DIED SOME MONEY WOULD BE FORTH COMING, AS THEY MOVED ADDRESSES MOST LIKELY TAKEN OVER BY ANOTHER COMPANY SHE HAD ALL THE NEW ADDRESS AND PHONE NO FOR ME TO SEND IT OFF.I BELIEVE THIS WAS MIS SOLD TO HER AS SHE WAS ONLY 16 AT THE TIME AND HAD NO REASON FOR HER TO TAKE OUT A LIFE POLICY AT THAT AGE.HOW LONG DID LIFE POLICIES LAST FOR IN THOSE DAYS? WHAT A WASTE OF MONEY I KNOW IT WASNT MUCH TO PAY BUT THINK SHE WAS HOODWINKED.IS THAT THE END OF THE MATTER DO I JUST ACCEPT THEIR WORD.:mad:

dunstonh

For future note, when writing in capitals, it indicates that you are shouting. On a more practical level, using capitals makes it harder to read.

I BELIEVE THIS WAS MIS SOLD TO HER AS SHE WAS ONLY 16 AT THE TIME AND HAD NO REASON FOR HER TO TAKE OUT A LIFE POLICY AT THAT AGE.

Rubbish. It was 52 years before financial services regulation. You were not even born. So, how can you claim it was mis-sold?

Was it a pure life assurance of a with profits assurance?

Typically these industrial branch plans (nowadays, most are ordinary branch) were the staple of regular savings for over a hundred years. You also didnt get the benefits that you get nowadays and families didnt have the wealth they have today. So, families used to take out penny policies for that reason and parents would encourage their children to do so as soon as they came of age.

HOW LONG DID LIFE POLICIES LAST FOR IN THOSE DAYS?

Anything from 1 year to whole of life.

IS THAT THE END OF THE MATTER DO I JUST ACCEPT THEIR WORD.

I cannot believe you want to raise it as a complaint. Ignoring the fact it is half a century pre-regulation and legally timebarred, it has to be one of the most pointless complaints going and a complete waste of time and money for all involved. Have you not got something better to do with your time?

ACG

How can you dispute something 58 years old?

I think its a case of saving your breath as its probably not worth it.

kingstreet

I have to say, I read this thinking it was a wind-up, but as I always do, I'll play it with a straight bat and assume it's genuine.

She stopped paying it in 1952. Cover stops if premium stops. Under non-forfeiture rules, any savings element could be used to continue the cover until extinguished then it would lapse.

Perhaps she decided she didn't need the cover? We can't possibly know why she took it out in the first place, so there is absolutely no way of proving the circumstances which applied at the time.

noh

..........I BELIEVE THIS WAS MIS SOLD TO HER AS SHE WAS ONLY 16 AT THE TIME AND HAD NO REASON FOR HER TO TAKE OUT A LIFE POLICY AT THAT AGE.

In 1936 when your mum was 16 she most likely would have been working having left school 2 years earlier.

longleggedhair

bevwedge wrote: »

HI MY MUM TOOK OUT A LIFE POLICY BACK IN WAIT FOR IT DEC 1936 AT THE AGE OF 16 i HAVE JUST RECEIVED A LETTER FROM THE COMPANY NATIONAL DEPOSIT FRIENDLY SOCIETY TO SAY IT HAD LAPSED ON 30TH JAN 1952 SHE PAID THIS FOR 16YRS AND SHE OBVIOUSLY BELIEVED THAT WHEN SHE DIED SOME MONEY WOULD BE FORTH COMING, AS THEY MOVED ADDRESSES MOST LIKELY TAKEN OVER BY ANOTHER COMPANY SHE HAD ALL THE NEW ADDRESS AND PHONE NO FOR ME TO SEND IT OFF.I BELIEVE THIS WAS MIS SOLD TO HER AS SHE WAS ONLY 16 AT THE TIME AND HAD NO REASON FOR HER TO TAKE OUT A LIFE POLICY AT THAT AGE.HOW LONG DID LIFE POLICIES LAST FOR IN THOSE DAYS? WHAT A WASTE OF MONEY I KNOW IT WASNT MUCH TO PAY BUT THINK SHE WAS HOODWINKED.IS THAT THE END OF THE MATTER DO I JUST ACCEPT THEIR WORD.:mad:

What a completely stupid post-get a hobby do you have nothing better to do with your time.

jamespir

What's with all the caps and is this a joke