Income protection insurance

Dbloor66

Hi all I am new to the forum and looking for some advice pls. Approx 8 yrs ago I started up my own business and was told by my business manager at my bank (hsbc) that I had to take out income protection and sickness protection insurance as part of having a business account. Up until aug last yr I was paying approx £80 per month for the insurances and unfortunately had a small accident which meant me being off work for 3 weeks. I knew I would not be able to claim until I had been off work for a month but tbh feeling pretty miffed that I have paid approx £7500 for the insurance. I have since cancelled and instead have been putting the equivalent away and already built up a nice little nest egg of almost £ 900 should this ever happen again. I obviously know about the big hype of miss selling ppi but where would I stand if I were to claim my misspelling of ip insurance? Thanks for reading and look forward to any help or advice please

[Deleted User]

You have no complaint as the insurance was not mis-sold to you.

This is not PPI and you were told accurately that taking the insurance was a condition of having the benefits of a business account.

If you had been incapacitated for longer than a month then the insurance would have paid out.

Your feeling of "buyer remorse" does not indicate a mis-sale.

Dbloor66

Thank you very much for your quick response, you are correct in your wording "buyer remorse" guess I am just annoyed at myself at actually agreeing to it as I have since found out it's not compulsory to take this out as I was led to believe and looking back feel as if he gave me no choice, ah well live and learn