told i needed to take out life insurance for overdraft increase?

AlTeREgO

Not PPI as i understand it, but i was told by my bank, natwest, that in order to increase my overdraft limit i needed to take out Life insurance.

At the time i was desperate because due to an arrear on my part i was about to go overdrawn over my£1000 overdraft amount, so asked for a £500 increase so i wouldn't incur charges ect.

I no longer have the overdraft or any debts, but im still paying for life insurance i didnt want / dont want.

Im not even sure of the details, who im insured with or how long im supposed to pay this for.

. im not sure how to start with sorting this out, i dont have any other details apart from a direct debit that comes out of the bank account each month.

[Deleted User]

AlTeREgO wrote: »

. im not sure how to start with sorting this out, i dont have any other details apart from a direct debit that comes out of the bank account each month.

You can complain of mis-selling for any insurance, but you appear to have only an unprovable allegation as the basis of your complaint.

dunstonh

Not PPI as i understand it, but i was told by my bank, natwest, that in order to increase my overdraft limit i needed to take out Life insurance.

Like PPI complaints for the same reason, it is a very difficult thing to prove, unless it was required (typically self employed/business customers) where it is allowed. Plus, many of the banks treat life assurance differently to PPI and use a different sales process.

Life assurance complaints typically look at the financial need. If you needed it then you are likely to find no luck on a complaint. If you didnt need it then you would have success on a complaint. Need is determined by whether anyone else would be worse off in the event of your death. If you are married or have a partner and/or have children then forget it. You wont be able to show you have no need for it. If you are single, living alone with no dependants then you have your complaint reason.