AXA Payment Protection Cover

smithy3000

I took out life insurance through AXA alongside mortgage insurance through Friends Provident for my mortgage and loan (110% from NRAM).

I appreciate that mortgage insurance and life insurance are sensible things to have and there is no claim on these.

However AXA charged me Payment Protection Cover on the life cover.

Is this specific cover the same principal as PPI?

[Deleted User]

smithy3000 wrote: »

Is this specific cover the same principal as PPI?

PPI is not somehow wrong.
You can only complain if PPI (or similar) was mis-sold to you.

dunstonh

However AXA charged me Payment Protection Cover on the life cover.

That is not PPI. That will be waiver of premium. It is not subject to the same issues as PPI (i.e. its underwritten at point of sale, covers similar but different things, goes to the end of the life policy, is still available today at point of sale and the regulator considers it best advice to recommend it).

Is there any reason to think it was mis-sold?

lennonc1

I am looking into my life insurance policy being missold. Legal and general have sent final letter to say sorry they dont agree now in hands of fos, I have just discovered that we paid 420 pounds commission to the L&G agent that northern rock set up so not happy about that at all would never have paid that to do it free online so have updated them and now have another 8 weeks to get back to me.

-taff

Unless you are immortal, I doubt you'll be successful.

lennonc1

The fos seem to think I will be because when applying for the mortgage they told me it was compulsory to take the life assurance policy and their own buildings and contents insurance. Which is part of misselling, they did not advise me I could take this elsewhere and was aggressive selling so Im sure I will have a decent outcome from this.

-taff

They don't have to advise you that you can go eslewhere. That would be like you going to tescos and them telling you it was cheaper in asdas.
It would have been compulsory unless you were single with no dependants at the time.
The FOS do like to encourage people

[Deleted User]

-taff wrote: »

The FOS do like to encourage people

Yes, their telephone personnel seem the most encouraging. I'm not sure whether they are venturing personal opinions or have been instructed not to put anyone off proceeding with their referral.
The OP would do well to remember that only the Ombudsmen are final arbiters, not the operators manning the phones.

lennonc1 wrote: »

Im sure I will have a decent outcome from this.

You'll have to wait for a year or more to find out for sure, but if you expect nothing then you won't be disappointed.

lennonc1 wrote: »

, I have just discovered that we paid 420 pounds commission to the L&G agent that northern rock set up so not happy about that at all so have updated them

This commission is irrelevant in a mis-selling complaint.

roonaldo

-taff wrote: »

Unless you are immortal, I doubt you'll be successful.

there can only be one

dunstonh

The fos seem to think I will be because when applying for the mortgage they told me it was compulsory to take the life assurance policy and their own buildings and contents insurance. Which is part of misselling, they did not advise me I could take this elsewhere and was aggressive selling so Im sure I will have a decent outcome from this.

I very much doubt the FOS have told you that. You have probably only had the initial telephone line contact and their script always is overly positive and agreeable. However, an actual adjudicator looks at the file and finds no such documentation saying anything of the sort, what will you have to support your allegation?

They are not required to tell you that you can take it elsewhere. That is a myth.

I have just discovered that we paid 420 pounds commission to the L&G agent that northern rock set up so not happy about that at all would never have paid that to do it free online

The agent didnt get £400. Northern Rock did. However, it would have appeared on the illustration and again with the cancellation rights. You didnt think they were doing it out of love did you?

Typically in complaints like this there is nothing to support the allegations being made. The documentation almost certainly wont back it up. So, the FOS will look at whether the policy is suitable or not. In the case of life assurance that is easy as its just a measure if anyone is worse off in the event of death. So, if you are married, have a partner and/or children then your complaint will almost certainly be rejected. If there is anything in the paperwork to support your allegation, then they may uphold it. It is rare for that to be the case though.

~Brock~

-taff wrote: »

The FOS do like to encourage people

...of course they do. Another £850? Why the hell not....Kerr-ching....thank you very much sir.