Cancelled Life Insurance Policy

cmhbyandco

My ex husband & I had life insurance since 1983 for £40,000. When we divorced he signed the policy over to me & I continued to pay the policy still covering us both. I have never missed a payment.
I contacted the company when I remarried in October to change my name & I was told that they had stopped taking the direct debit in August & they had cancelled the policy with out informing me. I did not miss that they hadn't taken the money out in September)
No reason was given & they told me that I could do nothing about it. I admit that at the time I just left it. Now my ex husband has died recently from cancer & he told our Son's that they would have the money from the policy but of course it was cancelled.
Is there any thing I can do? I feel cheated for my sons sake's & I continued with the policy for them. Any advice is welcome.

dunstonh

Is there any thing I can do?

Probably not no.

After you realised the error, you had the opportunity to do something about it then (such as reinstatement) but chose not to do so. You effectively accepted what happened.

Now, 8 months later, your ex husband dies and you want to get a payout. That is really unlikely to happen as 8 months has passed since you made your decision.

Life companies dont just cancel policies. Why was it cancelled last August? Or did it just come to the end of it's term? This is important as if you were told incorrect information in October, there may be scope there.

cmhbyandco

I asked them at the time to reinstate the policy & they refused. I was told then there was nothing I could do & just accept it. The policy was life insurance & I can't find any thing to say it had come to an end. I will write again to the company.

dunstonh

I asked them at the time to reinstate the policy & they refused.

Why did they refuse?

I was told then there was nothing I could do & just accept it.

Which makes me wonder if it just expired rather than being cancelled.

kingstreet

Was the insurer aware of your address? If so, what correspondence did you receive from the insurer between August and October?

Did you make any changes to your bank account which prevented the direct debits being made?

What reason did the insurer give for being unable to debit the premiums?

Did they cancel or "lapse" the policy after you missed three consecutive monthly premiums?