Critical Illness & Decreasing Life Cover

baldy_pete

Hi there.
Can anyone advise please? Sorry if the below is not clear.
We were recently checking with our bank about the various costs of critical illness cover we had together with our endowment. We pay £65 per month on top of interest payments to another provider.
We only have about 22k left of a £35k mortgage and were checking to calculate the benefits of paying off the mortgage.
My wife was told that it would not be possible to split the two and find what the exact amount for critical illness is and that at £65 for both it would still be great insurance to keep even if we paid off the mortgage.
They have not confirmed this in writing but if they do, does this mean that the critical illness was mis sold originally?
We do not have the original paperwork but my thought is that if the two cannot be shown separately at this point we may have a case?
Thanks

dunstonh

My wife was told that it would not be possible to split the two and find what the exact amount for critical illness is and that at £65 for both it would still be great insurance to keep even if we paid off the mortgage.

All of that is correct. Although, with a bit of work getting the insurer to supply the details, they could get the current sum assured.

They have not confirmed this in writing but if they do, does this mean that the critical illness was mis sold originally?

What makes you think it was mis-sold?

my thought is that if the two cannot be shown separately at this point we may have a case?

You bought a product that was a package of benefits in a single plan. i.e. you pay £x and you get abc benefits. You didnt buy a number of different standalone products or one which bundles separate segments into one payment. So, what you are asking for does not mean that you were mis-sold.

Mis-sale relates to advice given at the point of sale. Not something that cannot be given to you on a change of circumstances many years down the road.

snoop12

kingstreet wrote: »

Out of curiosity I've just done a quote for;-

M53NB N/S & F50NB S £80K Dec Term 18y

and the premium came back at around the £35 per month mark.

Is it possible your plan includes critical illness or another benefit you aren't aware of, or have forgotten about? The difference appears too great to be attributable to the different distribution channel costs alone.

No critical illness or other benefits.