MPPI Recalim - Am I entitled?

jayebeebaby

Hi. Would anyone be able to tell me if I have a case for an MPPI reclaim? I took the policy out in 2004 when I first took out my mortgage. I used an Independant Morgage advisor to arrange my mortgage (with If.com) and he told me that I needed to take out MPPI to cover my payments if I fell ill. The advisor produced some information/brochures on MPPI for me and I applied right then and took out MPPI with Payment Shield on his advice. I cancelled the policy in Feb 2010 after doing some research on the MSE website and finding that I was in effect wasting my money on this insurance as I have savings that would cover my repayments. I'm confused as to whether I would be able to make a claim as the insurance wasn't with my mortgage lender or sold to me by them, it was sold by an independant advisor. None of the paperwork that I have from the independant advisor refer to his recommendation so I have no proof that I applied based on his advice. Any help/advice would be appreciated.

dunstonh

I took the policy out in 2004 when I first took out my mortgage. I used an Independant Morgage advisor to arrange my mortgage (with If.com)

Pre regulation case.

he told me that I needed to take out MPPI to cover my payments if I fell ill.

Which is technically correct.

The advisor produced some information/brochures on MPPI for me and I applied right then and took out MPPI with Payment Shield on his advice.

Advice is good. Provider is fine and paid monthly which is how it should be.

I'm confused as to whether I would be able to make a claim as the insurance wasn't with my mortgage lender or sold to me by them, it was sold by an independant advisor.

Nothing you have said indicates any wrong doing and it is possibly not covered as it is pre-regulation (depending on the status of the adviser).

I have no proof that I applied based on his advice.

Back then little or nothing was needed. However, proof of his advice would just help reject the complaint even more. It wouldnt help you.