Can I claim Prudential

Phil1888

Hi there - I have an Insurance policy for my mortgage (life, unemployment, sickiness, critical illness) with Prudential. I took this out at same time as my mortgage. I feel I have been mis sold this as I was given an option of how quickly I would get pay out so I paid extra monthly to be paid out if I'm off for 3 months or more from work on sick etc, but I'm told as I receive 6 months full pay and 6 months half, then this should not be sold? Where do I stand? I am still paying this policy. Do I have a claim? Thanks.

_Andy_

Why on earth did you choose that option if you receive six months full pay?

Phil1888

It was in case I took unwell - thought it would have meant a few months mortgage paid before i went to half pay. Only cost a few pounds a month more. Seemed a good idea at the time.

dunstonh

I feel I have been mis sold this as I was given an option of how quickly I would get pay out so I paid extra monthly to be paid out if I'm off for 3 months or more from work on sick etc, but I'm told as I receive 6 months full pay and 6 months half, then this should not be sold?

Did you tell the adviser this when you took it out? Or did you buy it without advice?

Phil1888

I advised the salesman at the time that I got 6 months full and 6 months half pay from my employer?

dunstonh

Phil1888 wrote: »

I advised the salesman at the time that I got 6 months full and 6 months half pay from my employer?

When was this because Prudential havent had a salesforce since 2001. So, unless you bought it before then, Prudential have no liability for the sale of the product and you could not have used a salesman.

6 months full pay, 6 months half would only have an impact on the MPPI part of the policy. Not life and CI. Pru's income protection plan is typically a permanent health insurance policy (PHI) rather than an MPPI but it does allow for unemployment to be bolted on. PHI plans often have longer deferment periods to allow them to match sick pay offered by the employer at point of sale .

Phil1888

My apologies for the terminology 'saleman'. It was in fact an advisor in Pacitti Jones (who sold me my mortgage), who sold me the policy. This was before 2001. I had queried the 6 months part a few years after purchasing it, but was told I had to cancel if I wasn't happy and take out a new, more expensive policy, which didn't have the same critical illness benefits. They said there was no right to compensation for the past years?

dunstonh

When you did query it? You have 6 years from taking it out or 3 years from being reasonably aware of the problem to make a complaint. After that they can time you out.

Also, it is possible that you are not covered as regulation didnt kick in until 2005. Some adviser firms did have regulatory protection prior to that but others didn't.

magpiecottage

The firm you name are Scottish Solicitors. As far as I am aware, activities of Solicitors before 2001 do not fall under FOS jurisdiction.

So I think you are onto a non-starter.