Mis sold life insurance and critical care

KateK16

Hi I wonder if anyone can shed some light on whether or not we will be able to claim for missold life insurance and critical care cover. We were told at the time of taking out our mortgage (Nov 2003) that we had to have this as a requirement of the lender. The policy is with Zurich (or Allied Dunbar as it was then) and was taken out through a broker. The mortgage was a joint mortgage and we had no independents at the time. Also I told the broker that I had some medical conditions but was told that this didn't affect the policy - I'm now not convinced that this is true. We were told that we had to have the policy in order to cover sickness and redundancy but I don't know if this is correct either. Can anyone tell me if we can claim mis sold or not please? Thanks

amersall

You need to post this here

http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They can help you more.

dunstonh

We were told at the time of taking out our mortgage (Nov 2003) that we had to have this as a requirement of the lender.

What evidence do you have to support that verbal allegation?

The policy is with Zurich (or Allied Dunbar as it was then) and was taken out through a broker.

If it was allied dunbar then it was taken out via a tied agent and not a broker.

The mortgage was a joint mortgage and we had no independents at the time.

So you correctly did have a need for life assurance and critical illness and the recommendation is correct. No mis-sale there.

Also I told the broker that I had some medical conditions but was told that this didn't affect the policy - I'm now not convinced that this is true.

And what evidence do you have that a medically underwritten policy at point of sale doesnt do that when it does?

Can anyone tell me if we can claim mis sold or not please?

Zurich agents gave "free" mortgage advice on the basis that you take the insurances with them. That is allowed and nothing wrong with it. So, no complaint there.

The plan you have is medically underwritten at point of sale (unlike PPI). So, your belief is incorrect. You also had a financial need for it as it was a joint debt.

They should have a factfind, needs analysis and would have issued a report. All these things didnt happen with PPI and is partly why PPI has issues. So, in summary, you dont appear to have any reasons for complaint.

magpiecottage

I was never a fan of Applied Crowbar but nothing you have said would cause me to uphold your complaint.