I've paid too much Life Insurance installments how do I get a refund?

underdebtthreat

Hello
I was wondering if anyone could help. I took out a life ins policy in 2004 with Friends Life which was connected to my mortgage on my house. I paid over £100 per month. I sold the house in 2009 and now realise ( by reading my policy! ) that I didn't have a life ins on its own, it automatically stops when my mortgage ends. I have been paying the policy every month thinking it would cover me and my family if something happened to me. I telephoned Friends Life and asked for a refund. They said no and that they would have paid out if I had died even if I hadn't got a mortgage even though it clearly says in my schedule that they wouldn't. I feel a little stupid but how do I claim my money back for 4 years paying into something that was voided when my mortgage ended!!!!!???? Is it possible or do I have to accept their answer - they are putting it through their complaints department.
Many thanks

dunstonh

I took out a life ins policy in 2004 with Friends Life which was connected to my mortgage on my house.

Whilst you may have taken the policy out to cover the mortgage, there is absolutely no connection between the mortgage and the policy.

I have been paying the policy every month thinking it would cover me and my family if something happened to me.

Which it would.

I telephoned Friends Life and asked for a refund. They said no and that they would have paid out if I had died even if I hadn't got a mortgage even though it clearly says in my schedule that they wouldn't.

You are misreading the schedule. It would pay out whether you had a mortgage or not. Indeed, the product in question can be used for non mortgage business even though it primarily is used for mortgages.

how do I claim my money back for 4 years paying into something that was voided when my mortgage ended!!!

You cant and you dont. It was not voided and there is no wrongdoing.

-taff

Even if you didn't require the cover after your mortgage finished it was your responsibility to stop paying it, not theirs to cancel, because they have no idea you've finished paying a mortgage.
In that case, you could have asked nicely for your payments back, after explaining you only took it out to cover the mortgage, but they are entitled to not do it, because as explained above, it still covers you.

roonaldo

1. Insurance isnt refundable just because you ask.
2. It wouldnt have been voided and they have confirmed this.
3. Its your responsibility to cancel it.

You are relying on a gesture of goodwill asking them to cancel it. Not sure why you are complaining, they havent done anything wrong.