We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Angry at my Life Insurance!
mejjulie
Posts: 1 Newbie
My life insurance policy runs out in November 2012 and today I got a letter saying it finishes and its not possible to extend. However in a letter I have dated May 2008 (as I changed address) it states in the run down of the policy details that Premium status is Renewable. I would never have taken this out if it couldnt be extended and am annoyed that they have had my money since 1998 and now will not extend it. I was under the impression that it could be. Is there anything that I can do, they misold this under false pretenses
0
Comments
-
Did they state why they are not renewing?First Date 08/11/2008, Moved In Together 01/06/2009, Engaged 01/01/10, Wedding Day 27/04/2013, Baby Moshie due 29/06/2019 :T0
-
Renewable subject to meeting criteria or guaranteed to be renewable?am annoyed that they have had my money since 1998
At least you are not dead. That would be the alternative.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 -
Are you sure it's not "reviewable?"
That would make more sense than renewable if it's in a section concerning premiums.I am a mortgage broker. You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice. Please do not send PMs asking for one-to-one-advice, or representation.0 -
"Renewable" in the premium status section means something different, it doesn't mean that the policy is extendable or reviewable. It simply means that you renew the payment status of the policy each month by paying a premium.
In the premium status section you could see terms such as "overdue", "lapsed", "cancelled" etc. Effectively, "renewable" means you're up to date with your premiums.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards