Help Mortgage Insurance 3xD Wont Pay Out

gazosdeamigos

Hi All,

I love this site and have been a long time reader!

My wife and I took out separate payment protection insurance to cover our mortgage as advised by a mortgage broker in the event of sickness or unemployment with 3xD when we bought a new house 2 year ago.

My wife had a serious illness and needed 6 weeks sick from work which we told 3 times she was covered for under the policy and she gets no sick pay from work. However after sending off payslips, sick notes and proof of mortgage they have said the policy is not valid as it is a joint mortgage policy and I am the lead income earner.

If this is the case then the policy we pay for my wife £25 a month could never pay out. It seems they are trying everything to get out of paying what we are entitled to or we have been mi sold the policy.

Could any one advise as to which steps I should take or whether I have any grounds to stand on?

Many thanks for any advice that could help.

Gary

huckster

Make a complaint to whoever sold the policy to you, as you believe it has been missold, given the rejection of a claim.

jonesMUFCforever

Have you got the policy in front of you?
What does it say?

It is not inconceivable that what they are telling you is true.

A missale - did you get a recommendation when you bought the policy? What does the fact find show?

kingstreet

If you bought "split" cover, the benefit would be split according to the incomes of the insured at the time of the claim.

For example, if both of you earn the same amount, 50% of the benefit would be paid in the event of one of you being unable to work. If one of you earns double the other, the benefit split would be 66/33 in the event of a claim.

Joint cover means two separate policies, with the full benefit paid on a claim by either policyholder.

So, do you have split cover?

If yes, what were your respective incomes at the time of the claim?

In addition, as the illness lasted only six weeks, what was the "deferred" period, or waiting period you had to see out before a claim would be paid? This is often overlooked and it can be as long as three months, when used to minimise the premiums for the cover.