Mortgage PPI have any death benefit?

Rose34

Hi,

I am in the process of dealing with my late fathers estate & upon looking at his mortgage statement notice he has been paying PPI since the mortgage began 16 years ago. I think the PPI is actually with Pinnacle but can't find any documentation regarding the policy.

Is it likely there would be any death benefit as part of this policy?

Many thanks

dunstonh

Is it likely there would be any death benefit as part of this policy?

No. it would be accident, sickness and unemployment cover.

Sorry for your loss.

Rose34

Thank you dunstonh

Sillysausageuk

Sorry for your loss. Would be worth seeing if he was missold tho?

dunstonh

Sillysausageuk wrote: »

Sorry for your loss. Would be worth seeing if he was missold tho?

Why?

THis is mortgage insurance. Not some tin pot PPI policy covering loan or credit cards.

InsideInsurance

Rose34 wrote: »

Hi,

I am in the process of dealing with my late fathers estate & upon looking at his mortgage statement notice he has been paying PPI since the mortgage began 16 years ago. I think the PPI is actually with Pinnacle but can't find any documentation regarding the policy.

It's not my area of expertise at all, but I would always check the terms first before writing it off. I know with the old PPI on loans etc for RBS group did have a death benefit and some of those were from Pinnacle but I don't know about the MPPI

Sillysausageuk

dunstonh wrote: »

Why?

THis is mortgage insurance. Not some tin pot PPI policy covering loan or credit cards.

Some lenders were still giving PPi with mortgages without knowledge or when not needed. Northern Rock sold me a PPI with my mortgage that I didn't need and it was with Pinnacle.

Rolandtheroadie

Looking into my parents mortgage PPI just now as well.

Is there any reason mortgage PPI couldnt be missold?

dunstonh

Is there any reason mortgage PPI couldnt be missold?

MPPI has the lowest complaint rate of any type of PPI and has the lowest success rate with complaints. It is generally regarded as the one PPI that is worth having. It is covering a debt with lifestyle changing consequences if it goes unpaid. Not like loans and credit cards.

Adviser retailed PPI only accounts for 0.2% of PPI complaints at the FOS. The majority is rejected. The FSCS only uphold 5% of complaints against mortgage advisers. Just to give you an indication of low the success rate is. Most of the success comes from single premium MPPI which is nearly always bad.