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Mortgage PPI?
TwistedPsycho
Posts: 971 Forumite
Morning,
After a successful claim against Nationwide BS in 2010 I have always had a niggle in the back of my mind about my mortgage insurances - these were through Connells Estate Agents.
We did the mortgage face to face and was told that in order to get a Northern Rock 110% mortgage (I know... we are regretting it) we had to take out the EA's health and unemployment insurance (or rather, their preferred partner Wessex Insurance - although the money was until last year listed as Connells on the Direct Debit) AND a health insurance policy through what is now Aviva.
Considering that having two health insurance policies means that we are uselessly double covered for death or serious health; is that a mis-sell?
After a successful claim against Nationwide BS in 2010 I have always had a niggle in the back of my mind about my mortgage insurances - these were through Connells Estate Agents.
We did the mortgage face to face and was told that in order to get a Northern Rock 110% mortgage (I know... we are regretting it) we had to take out the EA's health and unemployment insurance (or rather, their preferred partner Wessex Insurance - although the money was until last year listed as Connells on the Direct Debit) AND a health insurance policy through what is now Aviva.
Considering that having two health insurance policies means that we are uselessly double covered for death or serious health; is that a mis-sell?
Signaller, author, father, carer.
0
Comments
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Considering that having two health insurance policies means that we are uselessly double covered for death or serious health; is that a mis-sell?
What makes you think they overlap? Have you checked? It doesnt sound like they do from your post.
With mortgages and family protections you should have several policies (in no particular order):
Life assurance (often 2-4 policies - although I have done far more than that for one couple in the past due to their varying needs)
critical illness cover (sometimes included in the life policy as an add on)
PPI/MPPI - depending on your need
PHI (income protection) - everyone has a need for this unless they already have one.
You only have two plans and it sounds like one is for income protection and one is for life assurance (as much as can be made out from limited info). If that is the case then there is not a single overlap.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Oh okay.... I thought we had been sold a dud because both pay out for critical illness and death (one only for these), and would have fallen foul of an insurance "if you are covered elsewhere, you are not covered here" clause.
Thank you for your responce.Signaller, author, father, carer.0
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