Income Protection not PPI

Aridshark

I have an Income Protection Policy with Scottich Widows that has been running since 2001. I was taking out extra on my mortgage at the time and had the relevant insurances to cover it. But I felt the Lloyds advisor pressured me into taking out the Income protection Cover. This only gives me a nominal amount of money (£1000 per month) and what it pays out is reduced depending on what benifits I will be entitled to and pensions that are paying out aswell. It will only pay out after a year of sickness and may not actually pay me anything due to it only guaranteeing me an income of £1kpm.
I feel that I was mis-sold this policy as I didn't want it or ask for it.

My question is will this type of policy be covered under the miselling of PPI legislation or should I just cancel it and put it down to experience. I have contacted LLoyds but they are playing dumb as they are passing me from pillar to post and dont know which department to put me in touch with :mad::mad::mad::mad:.

amersall

You need to post this here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
You will get more help there.

dunstonh

But I felt the Lloyds advisor pressured me into taking out the Income protection Cover.

The job of an adviser is to make you aware of the shortfalls you have and the consequences of not being covered in those areas. Some people can find that quite disturbing.

I feel that I was mis-sold this policy as I didn't want it or ask for it.

You dont have to ask for it. The job of the adviser is to tell you what you need. The adviser did that and you agreed to it. If you felt it was over the top, you could have cancelled it with the cancellation rights or any time after and you could have complained after that. However, we are now 11 years later. That makes your complaint look a bit suspect.

My question is will this type of policy be covered under the miselling of PPI legislation or should I just cancel it and put it down to experience.

It is not PPI. You can complain about anything you like. You can complain about the colour of the wallpaper in the bank if you want. However, nothing you have said indicates any wrong doing. And it is wrong doing that you are complaining about.

PPI mis-sales tend to succeed due to lack of documentation, single premium and unqualified staff selling it poorly. Income protection is sold under an advice process with a factfind, needs analysis and a report issued and by an individual authorised by the FSA. The plan itself is fully underwritten at point of sale (unlike PPI). Your allegation 11 years after the event is a verbal allegation with no evidence to support it. They have the factfind, needs analysis, report and you paying it for 11 years without the hint of an issue. So, put yourself in their shoes, if you were a complaints handler would you uphold your complaint?