Life Assurance problems.

sebastianj

Mrs W was offered a Policy over the Phone, she answered all the questions truthfully and they started taking premiums from her for a 20 years Assurance. I was shown the Policy a year later and I noticed that most of the answers recorded were incorrect, so if there had been a claim 15-18 years later, would not have been honoured because of the incorrect answers on the policy.

She is pretty sick but according to her Policy she has only gone to the Doctor once last year, she is a frequent visitor to the Hospital but according to the declaration she has no reason to go there.

I cancelled her Policy and complained, now it seems some financial advisers are dealing with the complaint, asking her all kind of financial questions which has nothing to do with the return of premiums already paid.

Can any one suggest what needs to be done here please.

Sebastian

dunstonh

I cancelled her Policy and complained, now it seems some financial advisers are dealing with the complaint, asking her all kind of financial questions which has nothing to do with the return of premiums already paid.

The complaint would go to the agent involved in setting it up. To investigate the complaint, they need to find out the facts to see what the differences are. They will also listen to the recording of the phone call to see whether it was their agent (or the insurers agent - if they used the insurer to make the call) to see if they were at fault or Mrs W was.

The letter acknowledging the complaint should explain some of the process.

sebastianj

This is exactly what I thought they will do, listen to the recording, but this has not happened. Instead they are fishing into her financial situation, income etc; which I don't think has any thing to do with the complaint. This was not the Insurer who spoke to the client but an agent, who I think was not very professional. I cancelled the Policy by telling the insurer the truth.

I still don't know how to approach this how to get thge premiums back.
seb

dunstonh

Has there been a letter acknowledging the complaint?

I would not supply anything more. They may be trying to retrospectively create records.

sebastianj

Yes, a letter acknowledging the complaint with other forms and questionnaire. It gives the impression that they are offering some kind of services rather than resolving the complaint. They are asking for signature of client and partner, wanting to know what their income is whether working or not, it all seems very suspicious.
I think I will speak to the Insurer again as they are reputable and they reacted to me calling it all a scam, and said We r not.

Seb

kingstreet

Your complaint is to the organisation which sold the policy if that wasn't the insurer.

What is the connection with the firm of advisors you say is involved now?

sebastianj

Kingstreet, I have no idea what so ever about the relationship. I am trying to get something in writing regarding that. Initially I thought they were investigating my complaint but their questions have no relationship to the complaint ' it seems they are Independent Financial advisers'.
Seb

kingstreet

If the IFA sold the product, the complaint would have been most accurately directed at them.

If sold by the insurer, the complaint would correctly go to the insurer.

The question is, on the day, who was on the other end of the phone and who issued the post-sale documentation?

dunstonh

A lot of websites are front ends for advisory firms. So, how did she buy the insurance?

The complaint is against the firm that sold it. Not the insurer (unless the insurer sold it). The firm that sold it should be dealing with the complaint.

kingstreet

benbrowninsurance wrote: »

From the problem, it can only be said that cancellation of the policy is an apt step since the information furnished by the lady were erroneous after investigation. So far as financial advisors are meddling suggest the fact that these professionals are looking to fill their pockets by forcing the lady to avail their services. It can only be said in this regard to not attach any importance to the queries of the financial advisors.

Unless they sold the policy in the first place?