Was I mis sold Life Assurance

Hazy81

Hi, Just going through my finances for PPI etc and I've found a policy I had in conjunction to a remortgage in 2007. I was advised to take out this cover to go with the mortgage, but when changing mortgage again in 2010, I was told by another financial advisor that I didn't need it as I was covered throught work.
I was working for a large company at the time and was paying for life cover and critical illness via my wages.

As it wasn't made clear to me that I was basically paying for cover I already had, does this constitute to it being mis sold, and if so, can I claim it back and how?

Thanks in advance for taking time to advise.

Wutang_2

Hazy81 wrote: »

Hi, Just going through my finances for PPI etc and I've found a policy I had in conjunction to a remortgage in 2007. I was advised to take out this cover to go with the mortgage, but when changing mortgage again in 2010, I was told by another financial advisor that I didn't need it as I was covered throught work.
I was working for a large company at the time and was paying for life cover and critical illness via my wages.

As it wasn't made clear to me that I was basically paying for cover I already had, does this constitute to it being mis sold, and if so, can I claim it back and how?

Thanks in advance for taking time to advise.

no and no..

dunstonh

when changing mortgage again in 2010, I was told by another financial advisor that I didn't need it as I was covered throught work.

How much covered you through work?

Most people have their mortgage covered with one policy and their family/lifestyle needs covered with another. As we dont know what your financial needs are, we cant say if you needed it or not. However, having two for different needs is the norm. Using only employer cover is unusual.

Also, did you tell the original adviser what you had already?

ACG

Our compliance department have no issues with us selling life/critical illness cover if the only existing cover in place is through your employer. The reason being is that you could change your job/employer at any point - by choice or redundancy.

Our compliance department are very strict and very happy to give us a fail on the advice if they need to, so im confident if there were an issue with this, they wouldnt allow us to do it.

Quentin

Hazy81 wrote: »

Was I mis sold Life Assurance

No .