Life insurance

phj123

When I first took out my mortgage 9 years or so ago I was told that it was compulsary for me to take out an insurance scheme with the bank for me to get my mortgage i had already taken out life insurance etc with another company. Roughly 2 or 3 years later i enquired why i had to pay £60 a month when the original mortgage had ended it was only then i was told it was a life insurance policy.
I cancled and complained to the bank there and then but nothing was ever done. My question is am i entitled to claim any of this back under the PPI or mis-sold insurance guidlines or is it tough cookies?

thanks in advance

Paul

roonaldo

Life insurance is not PPI, so no it does not come under the same banner. You may have an argument if you had no wife or dependents.

You may well have been told you had to have it to get the mortgage back then.

It would also be a stand alone policy, so it wouldn't be up to the mortgage lender to cancel life insurance. It would be very irresponsible to cancel it without your consent. That's like expecting a car insurance company to automatically cancel your insurance if you sold your car.