Life Insurance ?

frak123

Hello,

I am single with no dependents, although I may start a family in the next 2 years.

I hav ben paying £50 per month to Aviva for a life insurance policy on my mortgage, which over the 4.5 years works out to be a large amount of money !

I used a mortgage broker through the estate agent when I bought my house, and they persuaded me that I should take the policy.

Firstly, would I be able to claim compensation for mis-sold PPI on this insurance ?

Secondly, if I cancelled the policy now, would all this amount I have already been lost ? Or could I claim it back from Aviva ?

(I am not convinced such a policy is worthwhile...)

Thanks for your advice,

Simon

dunstonh

Firstly, would I be able to claim compensation for mis-sold PPI on this insurance ?

Do you have PPI?
What would be your reasons for complaint?

Secondly, if I cancelled the policy now, would all this amount I have already been lost ? Or could I claim it back from Aviva ?

Aviva have no liability for the products sold to you by third parties.

You may a strong case for complaint on the life assurance as you someone needs to be worse off in the event of your death for there to be a need. There is no indication you have anyone else (although unless you are thinking of magicing up a partner to have that family with, then it could be that you have a partner already and there would be a need then).

ACG

You cant claim under the mis sale of ppi.

However, it sounds like you may have reason for a complaint on the life insurance. If there is nobody that would be financialy worse off if you were to die then it seems pointless in you having life insurance.

opinions4u

What, precisely, does the life assurance policy cover? ~Is it redundancy cover? Life cover? Critical illness cover? Accident / sickness cover? PHI?

If it includes critical illness cover, that may be the primary need identified by the salesman and could justify the sale of the policy. If life cover added a mere couple of quid on to the cost then a conversation around not needing it at that point but being cheaper than starting a new policy in the future could have been why it's included in the policy.

Understand what you've actually got and why you've got it before you pursue a complaint.

kingstreet

Last few cases where I've done CI, when I've added life cover, the premium has gone up by 20p per month.

When you explain the survivability period on CI cover, most people I speak to decide to add the life cover to leave the unencumbered property to their parents, or brothers and sisters.