Do I have a Claim?

Hi all

I changed my mortgage in 2008f from an interest only to a repayment and was adviced by an IFA to get Critical Illness cover which I am still paying £46.00 per month which decreases each year as mortgage does from Bupa now Friends Life.

I already had Life Insurance and Terminal illness cover with Aviva £13 per month and Death cover with Avon £3.10 per month and still pay. Which I have had for more than 10 years for both.

I believe the Critial Illness was missold. The focus was on changing my mortgage from interest only to repayment and I know I informed the advisor of the cover I had but was pursuaded I needed further which I have now reviewed and feel I do not need.

What do others think.

Thank in advance.

Replies

  • [Deleted User][Deleted User] Forumite
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    butler0641 wrote: »
    I believe the Critial Illness was missold. The focus was on changing my mortgage from interest only to repayment and I know I informed the advisor of the cover I had but was pursuaded I needed further which I have now reviewed and feel I do not need.
    If you have reviewed the policy and have decided you already have duplicate cover elsewhere then you might want to consider cancelling one of the policies. You don't sound mis-sold though.
    Personally, I think you will have been advised to purchase additional cover, because your existing cover was insufficient.
    To be sure I'd have to know actual policy detail,.but death cover at £3.10 a month, for example, sounds wholly inadequate unless you live alone and have no dependents.
  • dunstonhdunstonh Forumite
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    I already had Life Insurance and Terminal illness cover with Aviva £13 per month and Death cover with Avon £3.10 per month and still pay. Which I have had for more than 10 years for both.

    Life assurance with Terminal illness cover does not overlap with critical illness cover. They are different products covering different things.
    I believe the Critial Illness was missold.

    You say you dont think you need it but nothing you have said indicates anything to support that. No mis-sale appears to be the case here.

    You may think about reviewing the Avon cover. Whilst the plan could be suitable, Avon plans are frequently poor value for money.
    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.
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