Barclays bank account health insurance

JT7

I was sold health insurance by Barclays years ago over the phone "in case I was unable to work, it would cover my direct debits". I know this isn't PPI but as its pretty similar I wondered if it's possible to claim back the years worth of payments and if anyone else had the same experience?

dunstonh

I know this isn't PPI but as its pretty similar

How is it similar?

PHI is medically underwritten at point of sale. PPI is not.
PHI is long term insurance sold by life and pension companies. PPI is short term insurance sold by general insurance companies. (and comes under a different part of the FCA handbook)
Virtually everyone has a financial need for PHI. Not the case with PPI.

I wondered if it's possible to claim back the years worth of payments and if anyone else had the same experience?

No. That is not how PPi works. Let alone other financial products that are not PPI. There has to be some wrongdoing. What is it that is wrong in your case?

JT7

Surely one so wise would not believe that if I knew all that I'd feel the need to ask in a forum? I was quite sure that the point of these was for those of us without the vast knowledge you clearly posess to ask for friendly advice from those who know. It was sold to me by my bank over the phone when I upgraded my current account, therefore my foolishly perceived similarity was that a bank had sold me an insurance product on the premise I may be unable to maintain my financial commitments. As I've never had any substantial financial commitments such as a mortgage or car finance etc. I felt that perhaps I'd never needed it in the first place. Clearly to my eternal shame and embarrassment I should have kept my unforgivable ignorance to myself as you seem genuinely offended by it. I do appreciate your response, it's been most helpful. However I would suggest that perhaps a less condescending tone in your future crusades against those who dare question that which they do not fully understand would render even higher levels of gratitude for your generously donated time and effort.

I shall remain forever in awe of your magnificent wisdom.

Yours most humbly,

JT

dunstonh

It was sold to me by my bank over the phone when I upgraded my current account, therefore my foolishly perceived similarity was that a bank had sold me an insurance product on the premise I may be unable to maintain my financial commitments.

Permanent health insurance is not sold over the phone. It requires a full medical disclosure (usually about 10-15 health questions). Are you sure this is the product in question?

therefore my foolishly perceived similarity was that a bank had sold me an insurance product on the premise I may be unable to maintain my financial commitments.

Most insurance is sold that way. i.e. you have a financial need (or area of shortfall) and the insurance will fill that need. e.g. if you are unable to work long term, then you may not be able to pay your bills. Permanent health insurance pays you an income so you can continue to pay your bills.

As I've never had any substantial financial commitments such as a mortgage or car finance etc. I felt that perhaps I'd never needed it in the first place.

So, if your income stopped tomorrow, it would have no impact on you?

Clearly to my eternal shame and embarrassment I should have kept my unforgivable ignorance to myself as you seem genuinely offended by it.

However I would suggest that perhaps a less condescending tone in your future crusades against those who dare question that which they do not fully understand would render even higher levels of gratitude for your generously donated time and effort.

Where the hell are you reading that in my response? Perhaps you should stop making these assumptions.

[Deleted User]

JT7 wrote: »

I shall remain forever in awe of your magnificent wisdom.

I recommend a less aggressive attitude to those who respond to your posts in future. Otherwise, you are not likely to receive any help at all.

roonaldo

It seems that having insurance is a retrospective savings plan for some.