endowment ppi

toxichilli

this is a bit of a tricky situation, both my ex husband and I took out an endowment policy in 1989 and let it keep running thru out two house moves, as part of our divorce settlement my ex husband got to keep the policy, where would i stand in going for any ppi claim as the policy was originally in both names and technically i am not actually cashing the policy itself

McKneff

An endowment policy is an insurance policy which would pay off the interest only mortgage when it matured.

You wouldn't pay PPI on an endowment policy, what makes you think you did????

PPI is paid for protection against not being able to pay a debt, like a credit card or a loan.

An endowment policy is not a debt.

Annisele

As McKneff says, an endowment policy isn't PPI. There's no such thing as endowment PPI.

I wonder if you're getting confused with WoP / Waiver of Premium Benefit? That was an optional benefit on some endowment policies, and would have paid the policy premium if you'd been unable to work due to sickness or disability.

So far as I know WoP wasn't widely mis-sold. Occasionally it was sold to people who weren't eligible for it (I think usually by mistake rather than malice). However, if that happened to you (unlikely in the first place) you probably assigned any rights to make a complaint to your ex as part of your divorce.

dunstonh

where would i stand in going for any ppi claim as the policy was originally in both names and technically i am not actually cashing the policy itself

As mentioned, endowments cannot have PPI on them.

So far as I know WoP wasn't widely mis-sold.

There are no issues with waiver. Even today, where it is available, it is still required to recommended as best advice with reason why it was no selected as part of the recorded documentation. it doesnt fall under the same rule book as PPI. waiver is underwritten at point of sale and is long term protection. PPI is underwritten at point of claim and short term insurance. PPI is typically sold non-advised or via non-regulated individuals. Waiver is typically sold via an advice process by regulated individuals. The audit trails are vastly superior in most cases.

amnblog

nice try - forget it

Froggitt

Maybe the mortgage that the endowment was linked to had PPI attached to it?