Good advice required

KID_A_2

I've been reading up on reclaiming PPI and think I may have a valid claim.

I took my mortgage out in 1998 for £27,000 and started paying PPI which I believed was compulsary. It is a joint mortgage with my partner and we have, over the years had several advances/home owner loans which took the mortgage up to £60,000. We have never missed a payment and have an excellent credit rating according to our account manager last week.
The only thing that worries me is the fact that after borrowing our first homeowner loan I was refused life cover on medical grounds for an illness dating back to 1993, stress/anxiety related. Anyway to cut a long story short, I have now been refused life cover 3 times (even though my GP can't understand why) and don't bother trying for it anymore.
If they refuse life cover then surely my PPI isn't worth the paper it's written on, though they have never refused that. I'm currently paying £32 a month for it, so is it worth me stopping the payment and reclaiming what I have paid in?
Any advice would be greatly appreciated.

dunstonh

If they refuse life cover then surely my PPI isn't worth the paper it's written on

Possibly. However, with MPPI, exclusions normally only relate to pre-existing conditions and conditions derived from that. All other medical issues would be covered. As MPPI does not pay out on death, then the issues that affect life assurance may not affect MPPI in the same way.

so is it worth me stopping the payment and reclaiming what I have paid in?

For you to make a successful complaint you would need to know that they would not pay out for any medical condition, which is your current assumption. If that assumption is correct, then its an easy complaint. However, if the assumption is wrong then its an easy rejection.

Why dont you phone the MPPI provider and ask them if your pre-existing condition means you are not covered for sickness on the plan? If they say you are not, then you have a name, date and time of someone you spoke to agreeing with you. If they say you are covered then you also have a name, date and time of someone who confirms you are covered if you were to suffer a claimable event.