out of work insurance ?

j-jones_2

i have a out of work policy that covers me after 1 month ,i took out the policy in 1999 , and payments have risen at 3 % each year.
i will be making a claim on this policy in about a month or so when i return to work.
iv already spoken to the insurance company asking if the payment i get off them will also have risen as the monthly payments have.
i was just told the usual so many claims etc costs have gone up.
i have now found the original cert and wording on there is payments and benefits will rise by 3% compound each year.

so are they lying to me as as the wording sounds like my payments i get back should be higher than when i took out the policy.

any advice appreciated. :beer:

kingstreet

Does the benefit increase each year pre-claim, or is it claims in the course of payment which rise?

Carefully read the policy documentation. Reproduce the text here if you wish.

j-jones_2

thanks for the reply.

this will only be the second time ive claimed on the policy

sorry i dont have the option to upload a scan,exact wording from both documents are.

indexation of benefits and premiums at 3% to keep up with inflation.

all premiums and benefits will increase by 3 per cent compound on each anniversary of the indexation date.

when i took out the policy i was paying £18.57 a month , payments are about £28 a month now.

j-jones_2

anyone any advice on this before i get tucked up at the end of the month, thanks.

ACG

To me that sounds like your benefit should have increased.

Call them and ask them to explain that sentence to you.

j-jones_2

thanks i will do.