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Lloyds access hospital income plan
Mikesworkshop
Posts: 1 Newbie
Urgent advise needed........it has recently come to my attention that I have been paying £15 p/mt for this policy ever since I took out my mortgage .i have just had a renewal notice for 24/11/11.
This is something that I didn't really know I had or requested,do I have a reason to claim if so should I cancel with immediate effect ?.
Thankyou
This is something that I didn't really know I had or requested,do I have a reason to claim if so should I cancel with immediate effect ?.
Thankyou
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Comments
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Hi there
I am not sure on this one but hopefully someone will know and post up soon, so bumping this thread up for you.
Good luck.The one and only "Dizzy Di"
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The LB hospital cash plan is a standalone product and not linked with any borrowing or other product.This is something that I didn't really know I had or requested,do I have a reason to claim if so should I cancel with immediate effect ?.
The product required two signatures on its application form. One for the application and one for the direct debit. So, how did you not know you had it?
You cannot claim back premiums just because you have not claimed on the policy. You need to have a mis-sale reason and one that can be proven or falls under a failure of setup. This wouldnt fall under a failure of setup as its monthly premium and standalone.
Its a naff product and a typical cash cow for the bank. I am well aware of the product as I have seen a few people attempt to claim on it over the years. It is really an option of last resort for those that cannot get proper income protection or those that have high risk jobs where that type of injury is more likely.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 -
I have found the same thing. I'd been paying for 2 hospital income plans sold to me by lloyds at different times and I don't even remember taking them out! Surely they can't sell me 1 knowing I've already got 1 with them can they!???0
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Surely you can't have bought two?Surely they can't sell me 1 knowing I've already got 1 with them can they!???
It's not Lloyds responsibility to check existing cover, that would be you.
However, if both policies have significant overlaps of cover, I would expect Lloyds to refund the costs of one of them.
This thread is from 2011.0
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