Can I claim?

bestofthebest_2011

Also, my Zurich Decreasing Mortgage Cover Plan, does that normally cover PPI? And why is it more expensive each year rather than cheaper as it is Decreasing Mortgage Plan?

dunstonh

Right, its not an IFA. Its a Zurich sales rep. So, you complaint to Zurich telling them that you were told you had to have it. That in itself wont likely succeed in your complaint as it is a verbal allegation. However, you also state in your complaint that you are single with no financial dependants and have no need for life assurance.

This goes for all your life assurance plans.

Keep it as simple as that. A paragraph or two in a simple letter is all it takes. you would expect the life assurance to be voided and premiums returned plus interest.

bestofthebest_2011

Thank you again for your kind advice. I have already rang Zurich to log my complaint and the lady on the phone insisted I had to have the Life Assurance in order to have a mortgage. Then I asked her why should I have it and she said that if anything happen to me at least the mortgage will automatically pay off. I then reply even if it paid off who's entitle to the property? As I have no one to passed on and the bank will be more than happy that I didn't pay it off so that they can repossess my property and keep all the deposit. Otherwise, it's only gonna benefit the government. And then she struggle to answer! She said that she's gonna log the case in and I should receive the letter within a week and they will give me a decision within 8 weeks. I also want to know as I married two years ago and I have a 1 year old baby, do I need to cancel my Life Assurance and get it somewhere? Thanks.

magpiecottage

You should contact an Independent Financial Adviser who can offer you products from the whole market and talk to them about your life cover requirements.

Do not cancel the existing policy for now because you cannot be certain you will get a replacement until it is actually in force.

Talk to the adviser about putting the policy in trust. This may avoid inheritance tax and will certainly speed up payment of any claim. It does mean you cannot benefit from the proceeds of a claim but, since you would be dead, that is not really a concern to you.