paying twice for 7 years!!!

plonker777

help please,

need to know if i have any come back at all.
increased my morgage in 2005 and also my life insurance. financial advisor originally had us with Legal and General but since the increase back then we have been with Aviva for the full amount.
just found ou today i am still paying fot the original ammount to L&G!!!!!!!!!!!!!!

Have i any chance of claiming back the money from L&G

thanks all

DCFC79

How come you didntnotice the money going from your account ?

R_P_W

Doubt it. You have had the service paid for

Did you not request to cancel when you took out your new insurance?

Quentin

If you had moved on during this time your inheritors would have been pleasantly surprised when they discovered you had this in place.

lisyloo

so you haven't noticed these payments for 7 years?
I'm glad you named yourself plonker - saves anyone else doing it :-)

It's perfectly possible to have life insurance in excess of your mortgage.
For example if you are a breadwinner you might have wanted to cover your income or costs of child care whilst your children were small.

So you'd have to prove you wanted your FA to cancel the Aviva policy 7 years ago.
Do you have any paperwork supporting this?
If it's just your word against the FAs then you can still put in a complaint and they'll look at what paperwork you agreed to at the time.

Have you discussed this with the FA yet?

BobQ

Could the OP claim that he was missold the excess insurance which he did not need?

plonker777

The life insurance is morgage linked, amount comes down with the amount of the morgage and is directly conected to the morgage provider, or so i thought?
surely, when legal and general realise i havent had the morgage with the company they insured it for, for the past 7 years they must see it as an over payment?

for all those who would like to mock me for not noticing sooner, go ahead, cheers it makes me feel loads better!
everthing nowadays is direct debit/standing order what more can i say??

pjread

The insurers aren't liable for anything, but you might have a claim against the financial advisor. Are they independent? Do you have anything in writing to confirm that this was a replacement, and that the FA was cancelling the other policy?

Sadly I expect you might struggle, but a complaint to the FA sounds the route to go to me. they might at least give some gesture...

DCFC79

plonker777 wrote: »

The life insurance is morgage linked, amount comes down with the amount of the morgage and is directly conected to the morgage provider, or so i thought?
surely, when legal and general realise i havent had the morgage with the company they insured it for, for the past 7 years they must see it as an over payment?

for all those who would like to mock me for not noticing sooner, go ahead, cheers it makes me feel loads better!
everthing nowadays is direct debit/standing order what more can i say??

Wasn't mocking you, ah I'm see, I assumed it was a single direct debit so is that not the case then ?

_Andy_

"everthing nowadays is direct debit/standing order what more can i say??"

Why would that mean you wouldn't notice it/check your statements?

plonker777

i will be contacting the independant financial advisor (phoned earlier but he's out the office til tuesday) nxt week.
at the time of replacing the morgage he handled everything. advised we would need to change lenders for a better rate, and he also found us the best insurance was with aviva. All done in a few days call in the office and sign the papers. large bundle of legal stuff comes through the post, quik scan nowt i can remember about cancelling previous insurances, job done.
nothing to pay, he makes his money of a third party (insurance cxompany) just wondering if they have had any payment from the legal and general from yours truly??
i'll dig out paper work and see what i can find, i keep everything, including extra standing orders running!! lol