can i claim PPI on an exsisting endowment policy

spammyboy

good morning, im really not up on all this legal stuff so im in need of HELP! i have been paying an endowment policy since 1995 it finishes in 2020. it was with norwich union then they changed to Aviva. have have rang them and asked if i have ppi and after some oowin and aaring they said no. i asked for a copy of the original agreement but they said its against policy to send it out so they won't. i also asked who their underwritter is and they didnt know so couldn't tell me. how can i find out for certain that i dont have ppi. i have been told that in the 90's the ppi box was automaticly ticked, is that true??. :eek:

-taff

You don't pay PPI on endowments.

dunstonh

Just a second post to confirm the above.

PPI was never available on endowment policies. PPI is issued by general insurance companies. Endowments were issued by life assurance companies.

have have rang them and asked if i have ppi and after some oowin and aaring they said no.

Their response is correct.

i asked for a copy of the original agreement but they said its against policy to send it out so they won't.

As it is not a credit agreement there wont be an agreement. They are possibly thinking you mean policy document given that you are mixing things up so much and that an credit agreement wouldnt exist or be applicable.

i also asked who their underwritter is and they didnt know so couldn't tell me.

ROFL. Aviva are the insurer.

how can i find out for certain that i dont have ppi.

The fact you cant have it on an endowment is pretty good reason enough.

i have been told that in the 90's the ppi box was automaticly ticked, is that true??

.

No. Whoever is giving you this information doesnt have a clue what they are talking about. An endowment is not a debt or credit facility. It was an investment product. It didnt have credit agreements, it didnt have PPI. It is totally irrelevant to PPI. Its on par with asking if your petrol station charged you PPI when you fill you car up.

antrobus

-taff wrote: »

You don't pay PPI on endowments.

Although I believe it's possible to have what is known as 'waiver of premium' on an endowment policy, which is much the same thing. I imagine you could claim that the WOP was mis-sold, but I'd have thought it would be a tough one to win.

dunstonh

antrobus wrote: »

Although I believe it's possible to have what is known as 'waiver of premium' on an endowment policy, which is much the same thing. I imagine you could claim that the WOP was mis-sold, but I'd have thought it would be a tough one to win.

Waiver of premium has very little in common with PPI.

PPI is short term insurance. Waiver is long term insurance
PPI is underwritten at claim. Waiver is underwritten at point of sale
PPI covers accident, sickness and unemployment. Waiver covers inability to work due to illness
PPI falls under general insurance under FSA guidelines. Waiver does not.

Waiver is closer to income protection than payment protection. It is still recommended that people take out waiver of premium on applicable products. Suitability Reports still need it documented if someone chooses not to have it as to why.

You can complain anything was mis-sold if you wanted to. You can complain about anything you want really. However, the PPI issue and reasons will not apply to a non-PPI product.

magpiecottage

dunstonh wrote: »

You can complain anything was mis-sold if you wanted to. You can complain about anything you want really.

Is Antrobus AKA Outraged of Tunbridge Wells?

antrobus

magpiecottage wrote: »

Is Antrobus AKA Outraged of Tunbridge Wells?

Simply answer, no. I've never been to Tunbridge Wells and am rarely outraged. And I'm rather puzzled why my brief contribution should imply that I was either.

dunstonh wrote: »

Waiver of premium has very little in common with PPI....

From a technical insurance point of view perhaps not, but from a consumer point of view they can look pretty similar. I only mention it because it's possible that the OP may have confused the two, or been confused by somebody else. But as I said before, even if there was WOP and OP claimed, it would be a tough one to win.

spammyboy

well thank you everyone for the replys and taking the time to help me. i'm loving the passion you have about all this. take care. over and out xxxx :T:T:T:T:T