Total Mortgage Protection Plan (TMPP)

edited 30 November -1 at 1:00AM in Reclaiming Mortgage Fees, Council Tax, etc
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peejaydeepeejaydee Forumite
1 Post
I have been paying TMPP for a number of years having been told it was necessary and essential. On another forum I read that this is equivalent to PPI and that I should claim it back. Has anyone claimed this and what was their experience? I would also like the opinions of financial experts on this.

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  • dunstonhdunstonh Forumite
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    On another forum I read that this is equivalent to PPI and that I should claim it back.

    That is not really correct. The TMPP is a multi-segment plan that can cover different areas. These are life assurance, critical illness cover, income protection and Mortgage Payment protection. Only the last one is equivalent to PPI.

    Even if you have the MPPI element, you have to have a reason for mis-sale. Noting that MPPI has the lowest success rate on complaint of any type of PPI, you typically need decent reasons for complaint unless you get lucky with an auto payout. Halifax are pretty frequent at doing auto payout on the PPI element of a TMPP but they will not on any of the other elements.

    So, what cover do you have in the TMPP and what reasons do you have for it being mis-sold? (being told to have it is a weak reason that is usually unprovable and only works if there are other failures or you get lucky with an auto payout).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • ~Brock~~Brock~ Forumite
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    Presumably the 'experts' on this other forum are authorised to give this advice, and you therefore have appropriate redress channels in place should you decide to act upon it, cancelling the policy only to find yourself in the situation where you have a claimable event and no insurance to fall back upon therefore putting your house and the rest of your lifestyle at risk?

    No, I thought not.
  • magpiecottagemagpiecottage
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    peejaydee wrote: »
    I have been paying TMPP for a number of years having been told it was necessary and essential.
    There is the issue.

    When you posted, I was on holiday.

    I considered travel insurance to be necessary because it was essential that there were funds available to meet the cost of medical expenses etc. if I or one of my family fell ill or was injured (I thought at one point I might have to claim when my son stepped on a nail but that is another story).

    However, it was not compulsory and nobody ever led me to believe it was. I was within my rights to court financial disaster.
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