Insurance PPI question

mrsval

I have just received a letter from my life insurance company. This critical insurance was set up by Lloyds bank to run alongside my mortgage. I assumed it was for critical illness only until I received the letter stating I was paying a premium on this insurance for sickness which meant if I was off work sick I could could make a claim. I never knew I had this, I never asked for it either. Can I make a claim.

-taff

No.
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magpiecottage

-taff wrote: »

No.
.........................

Unless you are off work sick.

dunstonh

I never knew I had this, I never asked for it either. Can I make a claim.

If you are off sick, then you can claim. However, I suspect you mean complain. However, there are some issues here.

1 - Its not PPI. It is waiver of premium and is different to PPI
2 - you did agree it. Unlike PPI, Waiver of premium is medically underwritten and priced on your age, health and occupation. It formed part of the application where you gave your medical details and signed.
3 - It is considered best advice to include waiver of premium. it will be documented in the reasons why letter or suitability report (depending on age). It will also be on the pre-sale illustration and the post sale illustration sent with the cancellation rights.

It would be daft to put in a PPI complaint against a product that is not PPI.