Random questions from Lloyds PPI

dunstonh

I actually do believe this has a high chance of success on complaint (even if it has to go to FOS). However, the focus needs to be on suitability rather than unprovable allegations.

Insider101

-taff wrote: »

I'd just go for single premium, in the armed forces [ sick pay not an issue] and see how that goes.

Personally, i've found they phone up and ask these questions, but it rarely has a bearing on the outcome.

Just saying "single premium" is not a Mis-selling reason. You can bet the loan agreement will state that it is single premium. You have to have been misinformed or wrongly advised in some way about the product.

Now if the policy was cancelled early and a non pro rata refund received that's a different matter. The OP very likely wouldn't have been aware of this.

On this one it appears that the sale was advised hence then asking these questions. I'd focus on the sick pay angle. I think they will consider it. I genuinely don't think they would waste time asking questions if they weren't going to take the answer into account.

-taff

I doubt you'll ever find anyone who was told exactly what single premium entailed and it certainly is a good reason if it's a series of loans as the OP describes......

Insider101

-taff wrote: »

I doubt you'll ever find anyone who was told exactly what single premium entailed and it certainly is a good reason if it's a series of loans as the OP describes......

True in those circumstances it raises the possibility of alternative redress if nothing else...

magpiecottage

-taff wrote: »

I doubt you'll ever find anyone who was told exactly what single premium entailed

If it was single premium then it should indeed have been made clear how long cover lasted and the total cost of cover over the entire loan period.

If not, an argument that "I would not have taken out a policy if I had known it would not run for the whole loan term, nor would I have taken one out if the total cost, including interest on the premium, had been explained to me" probably has legs.

But that is not a reason the OP gave.

-taff

not yet anyway.... nicely done

max555

-taff wrote: »

I'd just go for single premium, in the armed forces [ sick pay not an issue] and see how that goes.

Personally, i've found they phone up and ask these questions, but it rarely has a bearing on the outcome.

So how many times have you "personally" been called and asked those questions and how do you know whether what you said led to your complaint being upheld? Believe me, given the sort of people they often have to speak to, case handlers are not phoning for no reason. The easiest way to uphold a complaint is to speak to a customer and find out something about their circumstances which may have made the policy unsuitable.

Even if you can demonstrate that single premium PPI was unsuitable i.e. by demonstrating you were likely to refinance your loan, you will still only get partial redress. To get full redress for this reason you'd have to give a plausible explanation of what happened during the sale and how it was explained to you.

Most loan PPI does include a life element. It's just that it was never the main purpose of PPI and most of the premium paid for unemployment/sickness cover. A life insurance through work wouldn't be enough to uphold in itself but the bank might take it into account along with other factors.

-taff

twice, and they asked me exactly the same info as I put on my forms, and both times my complaints were rejected, but then they were upheld by the FOS.
and I got full redress.....both times....

does that answer your questions?

max555

-taff wrote: »

twice, and they asked me exactly the same info as I put on my forms, and both times my complaints were rejected, but then they were upheld by the FOS.
and I got full redress.....both times....

does that answer your questions?

Yeah thanks but those are just two cases from a million of course. I personally have upheld hundreds of complaints after phoning the customer for further information, cases I wouldn't have been allowed to uphold otherwise.

-taff

Make your mind up. You asked me personally how many times have I been phoned, I told you, now it doesn't count in favour of your argument you don't like it?
Give over.