Halifax PPI

Reb131

Can I claim. They say no.
Took out a PPI on mortgage with Halifax costing £120 per month.
When I moved the mortgage, the new lender said that my PPI was incorrect as my employer paid full sick for 6months and 50% pay for further 6 months. In fact my PPI could have been cheaper per month had the Halifax explain this to me but they never asked.
Is this correct or not.:money:

The letter received is worded in such a way to confuse :mad:

I did take out the insurance but my complaint is that at no point was I asked about sick pay.

Do I have a case or not ?.:(

Reb xxx

Pink1808

Reb131 wrote: »

Can I claim. They say no.
Took out a PPI on mortgage with Halifax costing £120 per month.
When I moved the mortgage, the new lender said that my PPI was incorrect as my employer paid full sick for 6months and 50% pay for further 6 months. In fact my PPI could have been cheaper per month had the Halifax explain this to me but they never asked.
Is this correct or not.:money:

The letter received is worded in such a way to confuse :mad:

I did take out the insurance but my complaint is that at no point was I asked about sick pay.

Do I have a case or not ?.:(

Reb xxx

I would write to them saying your feel you was mis sold and why and if you get no joy send it to the Fos I would think its a case of miss selling.

Good luck

dunstonh

Is this correct or not.

Whilst you didnt really need it, most MPPI plans do pay out in addition to employer benefits. It is loan and credit card where that can be more of an issue.

One of the ugly sides of financial services sales is that a new "seller" will often slag off the old one as they think it makes them look better. So, its possible that is happening here.

On advised cases, the adviser should check benefits. On non-advised cases they do not need to. Was your sale advised or non-advised? Before you quickly answer that as advised, do be aware that only 0.2% of PPI complaints at the FOS are advised cases. A lot of people mistake advice and sales as all being advice when it is not. Most banks moved to non-advised on mortgage and insurance some time ago.

Halifax tend to pay out very easily on MPPI. They tend to only refuse ones that are clearly showing no wrong doing. Indeed, they are one of the easiest to complain on and get success. The fact they say no on yours indicates they are confident that they are right.

McKneff

Pink1808 wrote: »

I would write to them saying your feel you was mis sold and why and if you get no joy send it to the Fos I would think its a case of miss selling.

Good luck

Ignore this completely, read and digest dunstonh's post.

He knows what he is talking about.

Reb131

dunstonh wrote: »

Whilst you didnt really need it, most MPPI plans do pay out in addition to employer benefits. It is loan and credit card where that can be more of an issue.

One of the ugly sides of financial services sales is that a new "seller" will often slag off the old one as they think it makes them look better. So, its possible that is happening here.

On advised cases, the adviser should check benefits. On non-advised cases they do not need to. Was your sale advised or non-advised? Before you quickly answer that as advised, do be aware that only 0.2% of PPI complaints at the FOS are advised cases. A lot of people mistake advice and sales as all being advice when it is not. Most banks moved to non-advised on mortgage and insurance some time ago.

Halifax tend to pay out very easily on MPPI. They tend to only refuse ones that are clearly showing no wrong doing. Indeed, they are one of the easiest to complain on and get success. The fact they say no on yours indicates they are confident that they are right.

Thank you. Your response is appreciated.

Could I just ask, what is "advised" ?

I have read through the letter again and it says:

" The adviser was able to access this information during the time of your sale and was trained to understand the benefits and limitations. I conclude from the evidence above that you were not misled during the sale of your PPI policy"

I was ill at one stage during the cover but was told that my illness was not covered.

Could my insurance have been cheaper if it only kicked in after 6 months?



I am now even more confused.

Reb xx:(








H

dunstonh

Could I just ask, what is "advised" ?

It means put in place under an advice process rather than a sales process. Typically by a financial adviser or mortgage/insurance adviser.

The confusion often comes about as banks tend to use the word "adviser" willy nilly and not just in the regulatory sense. So people think they are speaking with a real adviser but they are not.

Advised cases tend to have a much better audit trail. non-advised cases tend to have a poor audit trail.

" The adviser was able to access this information during the time of your sale and was trained to understand the benefits and limitations. I conclude from the evidence above that you were not misled during the sale of your PPI policy"

This suggests it was an advised case although given the banks misuse of the word adviser you can never really be sure. However, their reason is valid. If, in the event of a claim, they policy would have paid out even with 6 months full pay, 6 months half pay from employer, then it is not mis-sold. If it would not pay out because of employer benefits then it would be mis-sold.

I was ill at one stage during the cover but was told that my illness was not covered.

Does your policy cover different things in addition to PPI? such as critical illness cover or permanent health insurance? The Halifax TMPP is a policy that does have multiple cover options and is not just MPPI (indeed, it can hold the other options without having MPPI selected).

Could my insurance have been cheaper if it only kicked in after 6 months?

The ability to change the deferment period was not on the Halifax MPPI segment could is an option on the permanent health insurance segment (if you had that)

Reb131

dunstonh wrote: »

It means put in place under an advice process rather than a sales process. Typically by a financial adviser or mortgage/insurance adviser.

The confusion often comes about as banks tend to use the word "adviser" willy nilly and not just in the regulatory sense. So people think they are speaking with a real adviser but they are not.

Advised cases tend to have a much better audit trail. non-advised cases tend to have a poor audit trail.



This suggests it was an advised case although given the banks misuse of the word adviser you can never really be sure. However, their reason is valid. If, in the event of a claim, they policy would have paid out even with 6 months full pay, 6 months half pay from employer, then it is not mis-sold. If it would not pay out because of employer benefits then it would be mis-sold.



Does your policy cover different things in addition to PPI? such as critical illness cover or permanent health insurance? The Halifax TMPP is a policy that does have multiple cover options and is not just MPPI (indeed, it can hold the other options without having MPPI selected).



The ability to change the deferment period was not on the Halifax MPPI segment could is an option on the permanent health insurance segment (if you had that)

Thank you, things are becoming clearer.:T

Mine was a TMP. I believe we had all round insurance.

I have contacted them this morning and asked if they could confirm if my case was advised or non advised and they declined to provide that information.
They said I would have to write in and request it.

I guess my only option is to write to them and request copies of everything and see what happens.

Thank you for your help again.:beer:

Reb131

dunstonh

Mine was a TMP. I believe we had all round insurance.

If you had all segments then your complaint would only be against the MPPI segment. Halifax normally respond to PPI complaints only on that bit. Not the whole lot. You should check what segments you have as it could have an impact on the complaint.

[Deleted User]

Reb131 wrote: »

I guess my only option is to write to them and request copies of everything and see what happens.

Copies of what exactly? If you remain dissatisfied after the Bank's "full and final" response the next stage of your complaint is to refer it to the Ombudsman.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step4

Trying to ascertain whether your sale was "advised" is not going to advance your complaint as the reasons they have given for rejection are valid regardless.

Pink1808

McKneff wrote: »

Ignore this completely, read and digest dunstonh's post.

He knows what he is talking about.

How rude, no wonder there is a lot of people complaining about the rude people who write reply's on this site are !!!


They asked for advice and I gave them the same advice that someone who knows a lot about PPI gave me.

[Deleted User]

Pink1808 wrote: »

They asked for advice and I gave them the same advice that someone who knows a lot about PPI gave me.

You actually gave a personal opinion based on very limited information provided by the OP. I understand you were trying to help but you were telling somebody who had actually received a rejection (and didn't understand it) to write what would basically amount to a new complaint to the Bank..

There really is little point in discussing other posters and their style of addressing others, it's off topic and is not constructive.