Lloyds TSB Pet Insurance Withdrawn

Ddubya

My parents have just received a letter from Lloyds TSB informing them that they are withdrawing from the pet insurance market with effect from February.

Basically this will leave my parents high and dry as for the last couple of years they have had an ongoing treatment being paid for by the policy as their dog has diabetes, which they will never get another insurer to take on.

Since they got the dog in 2004 they have been paying a premium to Lloyds for their lifetime treatment cover.

My question is does anybody think they may have cause to pursue a claim to the financial ombudsman against Lloyds on the grounds of the policy being mis-sold as it has not provided them with the lifetime cover they had expected when taking out the policy?

I have found the following article on the Telegraph's website which does seem to imply that there may be case especialy as they took out the insurance prior to 2007 when Lloyds dropped the phrase "lifetime" cover from their policy.

ww9.telegraph.co.uk/finance/personalfinance/insurance/pet/8805322/Lloyds-and-Halifax-to-pull-pet-insurance-cover.html (sorry im new here so cant post links so you will need to change the ww9 to www above and paste it into your browser)

Does anybody have any opinions or advice that they could pass on?

Any help would be most gratefully received as my parents are pretty devastated by this news as they are now faced with covering the cost their dogs insulin, regular check ups at the vet and special diabetic food which will set them back at least £1500-2000 a year which is a massive amount for a couple of pensioners to unexpectedly have to budget for!

thanks in advance!

jonesMUFCforever

There is another answer isn't there?

Sorry if it is harsh.

geoffken

You can understand why lloyds want to drop out with claims ongoing like this.

snozberry

jonesMUFCforever wrote: »

There is another answer isn't there?

Sorry if it is harsh.

being incredibly sarcastic here but ...

Imagine what the NHS could save if the same could be done with humans. Not a very nice thought is it? Most pets are well loved and deemed as being members of a family.

jonesMUFCforever

snozberry wrote: »

being incredibly sarcastic here but ...

Imagine what the NHS could save if the same could be done with humans. Not a very nice thought is it? Most pets are well loved and deemed as being members of a family.

Judging by all the bad reports coming out of NHS hospitals and old age care in general they have already begun!

thegirlintheattic

Check the small print. There may be a clause covering this.

Saints2011

In the letter a alternative would of been offered, as LTSB are selling the policies on ...

keith1950

There is another answer isn't there?

I completely agree.

It is very selfish that people try to get every last minute out of their pet, if the pet is that ill , do the right thing.

If they can't afford the treatment do the right thing.

Very often a misguided loyalty to the pet causes it years of extra suffering.

oscarward

keith1950 wrote: »

I completely agree.



Very often a misguided loyalty to the pet causes it years of extra suffering.

Yes, but in the OP case the animal will only suffer if it is untreated.

Diabetes is easily treatable and will give many years of happy life.

Ddubya

mmm... not what I was expecting, with the exception of Oscarward, what a bunch of ill informed replies! I was expecting better from the money saving expert community!

I was under the impression that most people regarded pet insurance as being rather overpriced for what the majority of pet owners actually get back from it, and it is only in rare cases like my parents where an ongoing treatment is required that people are ever likely to see a return on the sums outlayed.

Also Im sure that the 5% of the UK population that the majority of the posters that have replied above would rather see left to suffer the symtoms of their diabetes rather than continue to manage them with a simple insulin injection would be rather put out by their opionions!

As oscarward rightly stated above the only reason the dog would suffer were if it was no longer to be given these injections, which is why my parents will continue to pay for them themselves if they have to. They have no wish to see a pet that they have owned and loved for many years suffer needlessly, and they also have no desire to have it put down when with the insulin injections it can continue to have a full and active life for many years to come!

Like I said above I am very disapointed by the replies I have received, if there is anybody out there with an informed response to the original question I would still like to hear it as I would hope that the rubbish posted above is not typical of the standard of help and advice given on this forum.

vaio

I’m inclined to say that the last couple of paragraphs of the telegraph link you provided gives you all the info you need.

If the insurance was sold on the basis that if you paid an enhance premium then cover would continue basically indefinitely and without regard to previous claims then that is what should happen and if they can’t find an underwriter who will provide that cover then that is their problem.