Income protection query

Hemble

Hi peoples,

I have just been sorting through my bank account as I am looking at moving abroad later this year early next. I came across a payment for near enough £30 every month from my account. I have always assumed that it was something linked to my pension as they are both with Scottish widows.

A few years ago my now ex wife and I took out income protection policies to cover ourselves having not long taken out a mortgage for our first house. When we split up, relatively amicably I must say, I opened a new account in my own name and we sat down with our account manager at Lloyds to swap all my direct debits to my new account. We both decided that as my income protection would benefit her and hers would benefit me we would cancel them. The account manager said he would organise this and we wouldn't need to do anything.

When I spoke to Lloyds today they said that it was an income protection policy but I would need to speak to Scottish widows about it. I have spoken to them just and they said that Lloyds would not have been able to cancel the policy as only the policy holder can do that. I would need to write to them to cancel the policy as they can't do it over the phone.

I suppose my question is do I have any kind of leg to stand on in reclaiming 4-5 years worth of payments on a policy I didn't want and if I do who would my claim be against? Scottish widows for not cancelling it or Lloyds for telling me they would?

yours hopeful of guidance

Hemble.

dunstonh

I suppose my question is do I have any kind of leg to stand on in reclaiming 4-5 years worth of payments on a policy I didn't want and if I do who would my claim be against?

Your problem is going to be one of proof. Lloyds staff are not allowed to recommend the cancellation of insurance products. So, the transaction is not within their internal remit. Even an IFA, who does have the remit, cannot cancel a policy and requires you to do it.

To cancel the policy, it would require a letter to Scottish Widows and you to cancel the direct debit.

This has not happened. So, do you have any evidence to support your allegations? Lloyds may rollover (your allegation is nothing to do with SW). However, 4-5 years after the event, it would seem unlikely from a credibility point of view. All you can do is ask Lloyds. You may get lucky. you may not. You are not really in a strong position given the time passed. (and of course, this is not PPI or case of mis-sale)

Hemble

Hi Guys,

Thank you Dunstonh for that ( I don't suppose you know Saturdays lottery numbers as well do you?), I thought as much if I'm honest. But if you don't ask you never know.

I was fully aware at the time of signing up for it what it was and what was covered. I have to say Lloyds has always treated me fairly in the past so I do have very little to complain about them for.

Thanks again for the help.