Mortgage/income protection

Edled

Hello everyone. I'm new on here and am seeking some advice.
I have a policy (I won't name the company because I don't know if I'm allowed) that has accident, sickness and unemployment cover for up to 12 months. I also have a policy with a different company which is called a 'Personal income protection plan' which kicks in after 12 months. Are these reclaimable as I was told that not having them could make getting a mortgage less likely.
Do they fall under the PPI banner?
Thanks

dunstonh

have a policy (I won't name the company because I don't know if I'm allowed) that has accident, sickness and unemployment cover for up to 12 months. I also have a policy with a different company which is called a 'Personal income protection plan' which kicks in after 12 months.

That is a very common way of doing it and one that is generally considered best advice.

Are these reclaimable as I was told that not having them could make getting a mortgage less likely.

If you have evidence to support that allegation then you may have a case. If not, then no.

Do they fall under the PPI banner?

one does but one doesnt. However, the PPI issue is not actually about the PPI policy, somewhat ironically. It is about how the sale was made and how it is documented. The fact you have in income protection policy would indicate it was likely an advised sale rather than a non-advised or bank clerk sale. So, the firm that sold it should have a pretty good audit trail as income protection needs full health disclosure, factfind, needs analysis and report. It is also monthly premium. So, all the usual PPI complaint reasons should be easily rejected.

Do you have any complaint reason stronger than an unprovable allegation?
Who sold it to you and when (important as it may be pre-regulation if a mortgage broker/adviser was used but not if a bank was used)

jamesd

You can name the companies if you like. The policies look to be suitable for the circumstances of someone with a mortgage. When were they sold? The rules in the past about what should be said about them helping mortgage applications were different in the past from now, with it getting a good deal more attention today.

Under current rules neither would affect whether you'd get a mortgage or not. The only mandatory requirement today is property insurance for the property used as security for the mortgage.