Can I start claiming my PPI now?

Kasia18

Hello,

I have recently discovered that the Personal Protection Plan from Santander may have been mis-sold to me, as I understood that I need that when I was taking my mortgage with them in 2009 to protect them. It was taken with Royal London through Santander. My partner and myself are paying monthly £25 toward that. Have checked with Aviva and the price for the same cover looks about £7 per month (it seem like it is the same cover at least) - we are both early 30', non-smokers, no kids and no health problems.

Should I stop the Royal London cover and take it from Aviva and then claim the PPI or if I take a new protection it will mean I am not able to claim PPI.Or did I misunderstood it completely?

There is also a question in the claim for D6: "If you hadn't been able to work would you have had any other way of making your repayments" - well..at the time of taking our mortgage my partner would pay the rates, if he would have illness - the I would pay, but if both of us wouldn't be able to work we would sell the house. Currently we would use our savings. How does it relate to the claim, please?

Also I didn't find any info on how to stop the PPP from Royal London anywhere. Did anyone tried to leave them?

Thanks in advance!:)

dunstonh

Have checked with Aviva and the price for the same cover looks about £7 per month (it seem like it is the same cover at least) - we are both early 30', non-smokers, no kids and no health problems.

You expect banks to be more expensive. That is normal and is not grounds for complaint. However, be aware that it may not be like for like. Things like guaranteed premiums are higher than reviewable. Critical illness cover may be included and/or terminal illness cover (which is different to critical illness).

Should I stop the Royal London cover and take it from Aviva and then claim the PPI or if I take a new protection it will mean I am not able to claim PPI.Or did I misunderstood it completely?

What you describe doesnt sound like PPI. it sounds like life assurance. Can you verify the policy you have? (both Royal London and Aviva are life assurance companies although Aviva do have a general insurance arm as well).

There is also a question in the claim for D6: "If you hadn't been able to work would you have had any other way of making your repayments" - well..at the time of taking our mortgage my partner would pay the rates, if he would have illness - the I would pay, but if both of us wouldn't be able to work we would sell the house. Currently we would use our savings. How does it relate to the claim, please?

With loan and credit card PPI, employer benefits can be an issue. However, with MPPI, the FOS normally rejects employer benefits as a reason given the nature of the debt it is covering (long term and very important to be paid). Savings would have to be around 1-2 years household income at least to be considered enough.

Also I didn't find any info on how to stop the PPP from Royal London anywhere. Did anyone tried to leave them?

Cancel the direct debit and let them know. However, I would be sure what you have before you cancel.

Bottom line here is that you dont appear to have any grounds for complaint.

roonaldo

You are talking about a life insurance policy.

Kasia18

Thank you very much for your replies.

What I have is called Personal Protection Plan and it has decreasing value for the term of mortgage (35 years). It covers terminal illness (I think it may also cover clinical illness - need to check at home) and death.

That's all I know about it at his point..

dunstonh

What I have is called Personal Protection Plan and it has decreasing value for the term of mortgage (35 years). It covers terminal illness (I think it may also cover clinical illness - need to check at home) and death.

That is life assurance. Not PPI.

Kasia18

So the only difference between these PPI and life assurance (mortgage protection, life insurance) is that:

PPI:

• covers accidents/sickness which make person enable to work or redundancy for 12-24 months
• does not cover death or terminal illness
• cannot be sold to self-employed people
• is optional

Life assurance (mortgage protection, sometimes called life insurance)

• is obligatory with some lenders if you are under 50
• paid only when someone is terminally sick or dead
• done after answering medical questions

Am I correct?

There is so many sources and they all are saying similar things - it is difficult to simply distinguish between them.

DevCoder

Well some PPI can be sold to self-employed.

Life assurance is what you are describing, it is not PPI and is one of the things you should be glad you haven't claimed on (or rather your estate would claim on).

dunstonh

cannot be sold to self-employed people

most MPPI covers the self employed fine.

is obligatory with some lenders if you are under 50

not any more. Used to be in the past.

here is so many sources and they all are saying similar things

Those sources are very wrong. Its like saying it is similar to car insurance.

[Deleted User]

Kasia18 wrote: »

It covers terminal illness (I think it may also cover clinical illness - need to check at home) and death.

It's life insurance and you have no complaint.

Kasia18

Thank you very much for your helpful answers