Have Lloyds sold me PPI ?

Phil_Gr

In 2003 I went to my local Lloyds TSB to enquire about a repayment mortgage to replace the endowment mortgage I had , at the time i was self employed and during the discussions for a mortgage I was ask if I wanted payment protection in the event of unemployment, as I was self employed I declined this as, from past experience I knew that my employment status caused problem with a claim.

It was instead suggested that I took out a life insurance policy with scottish widows to cover life and critical illness for myself and my daughter to the value and the duration of repayment mortgage I took out.

At the time of the mortgage I had life insurance that would have covered the cost of mortgage and it was suggested that this additional policy would allow more cash to be passed on the family or children, instead of being taken by settling the mortgage

I still have this policy and pay £53 pm, first payment of this policy was made the same month as my first mortgage repayment and the insurance policy from Scottish Widows mentions my critical illness benefit under my mortgage cover policy, and the value of the policy is reducing with my mortgage.

I'm not usually one for chasing stuff like this, and I alway refuse payment insurance due to my employment status

Is it worth phoning Lloyds TSB PPI claim line and making a complaint

Thanks in advance

dunstonh

I'm not usually one for chasing stuff like this, and I alway refuse payment insurance due to my employment status

And you say you did this and PPI was not taken out.

Is it worth phoning Lloyds TSB PPI claim line and making a complaint

What would you want to complain about? You dont have PPI (incidentally, Lloyds MPPI does cover the self employed - although you dont have it, so not a issue) and you cant have been mis-sold something you were not sold.

Phil_Gr

My Question is 'Have i been sold PPI ?"

I did decline payment protection in the event of unemployment, but i was sold critical health cover to the value of and, term of my mortgage - is this classed as PPI

and as i stated the policy mentions critical illness cover for my mortgage

GhIFA

To answer your question, no, you haven't been sold PPI. You have Critical Illness cover - it's a completely different type of cover, and generally one worth having.

So, no, it wouldn't be worth phoning Lloyds TSB and making a complaint.

_Andy_

There is no complaint. You have life/CI cover not PPI

Phil_Gr

Thanks for the response guys

I did have a suspicion that i didnt have PPI, but was looking for clarification on the definition of PPI

PG