Friends Provident Insurances-classed as PPI?

t_4410

Hi,

When we bought our first house with a mortgage we were informed we needed to take out all sorts of insurances or we would not qualify for the mortgage. (2006)

They were:
Life cover
Income Protection (one each)
Mortgage protection

I understand the life cover is not a PPI but are the others?

Also when I was applying for the insurances I was told on the phone that because I have a pre existing condition (Crohns Disease, which they were informed about) if i was ever off with my Crohns I would not be able to claim but could if a I broke my leg or something. My payments are also higher than my husbands because of this (double)

Can I claim back any of this under the PPI ruling? I have all the paperwork.

Thanks in advance
T

kingstreet

Chances are this was an advised sale, with the advisor setting out the need for and reasons for each separate strand of cover.

You should have illustrations and suitability letters to confirm this.

Carefully check the sales documentation as you would have to rely on deficiencies in this documentation and make a formal complaint to the advisor firm in the first instance.

Loadings and exclusions for medical conditions are part an parcel of such cover and as long as you are made aware of what you can and can't claim for, there's unlikely to be any issue with that.

FWIW none of these items is considered PPI and the sale is unlikely to meet any of the PPI "triggers" for a refund.

dunstonh

Also when I was applying for the insurances I was told on the phone that because I have a pre existing condition (Crohns Disease, which they were informed about) if i was ever off with my Crohns I would not be able to claim but could if a I broke my leg or something. My payments are also higher than my husbands because of this (double)

The life assurance and income protection would take pre-existing conditions into account as part of the terms they offer. The MPPI would only restrict in that are or related areas. So, the response you were given is correct.

Can I claim back any of this under the PPI ruling?

Nothing you have said suggests any wrong doing. It looks like an advised sale and an adviser is required to point out your needs and how to cover them. Indeed, if they dont so that or do it incorrectly then that actually makes it a mis-sale. Adviser mis-sales are very low. The PPI issue is mainly on non-advised cases sold by unregulated individuals. That doesnt mean you cant be mis-sold but with adviser cases, the only area you tend to see that pops up with mortgage advisers which is considered bad is single premium MPPI. Not monthly premium MPPI. Indeed, most Monthly premium MPPi complaints are rejected both by firm and FOS.