Can a mis-sold Self Assurance Policy be reclaimed.

[Deleted User]

Nearlyold wrote: »

Is the benefit a single payment of £24k or an annual income of up to £24k? ie is it CI or PHI?

It won't matter, the IFA who sold him the policy is no longer trading and it was pre-regulation anyhow.

Scottish Provident have no liability.

Nearlyold

Moneyineptitude wrote: »

It won't matter, the IFA who sold him the policy is no longer trading and it was pre-regulation anyhow.

Scottish Provident have no liability.

Yes well aware of that but I'm not suggesting it matters in terms of whether the OP can complain. Just seeking to clarify which type of policy the OP has especially as DD has just been cancelled - could be a costly mistake for the OP.

dunstonh

Does this come under the heading of 'not treating customers fairly'

It didnt exist back in 2000. Nor did regulation of insurance.

informed me it was a Self Assurance Mortgage Plan which would pay out up to £24k if I got ill and couldnt pay the mortgage.

That doesnt seem to match any type of segment offered by that policy. The plan was a multi-segment policy where you could have 1 or more bits. These were typically life assurance, Critical illness cover and income protection. None of them were directly linked to any mortgage.

So, are you sure you have been given the right information from the insurer? Or did they perhaps use an example of how they cover could be used?

Have contacted the Nexus company but not had a reply from them. Do I go straight to Scottish Provident and ask for a refund?

Nexus have no liability for the sales of another company.
Scot Prov have no liaiblity for advice given by someone they do not employ.