PPI through Legal and General?

jimmy_boy81

Hi all


So I got a mortgage through a financial advisor back in 2007 when I bought my flat and at the time was sold/advised to take out the PPI with Legal and General - I was also recommended I take other products with L&G (Critical illness etc despite the broker saying they had no affiliation to L&G - yeah right!!!)


Anyway due to the midst of time I cant adequately recall the conversation we had and whether I was told it was compulsory or not. I do vaguely remember feeling like I should take it out - not that I was pressured but I did think at the time like I wasn't sure I had all the facts


My question is - is it worth pursuing a claim against L&G or are they a tough nut to crack?


Thanks all in advance

Nasqueron

"is it worth pursuing a claim against L&G"

No as they didn't sell you it - miss-SALE is the issue, so you approach the person who sold it to you i.e. the broker.

Do note that if the broker does not charge you for the work they do, they are allowed to insist on buying insurance through them (for a commission so they can make a living) - so long as it is suitable.

MPPI is a fundamentally good idea as it protects what is likely to be your single most important/expensive asset - your home. If you lose your job and you cannot pay the mortgage you can be evicted and the house sold. Unless the MPPI could not pay out do consider whether you could have paid the mortgage and your other bills if you lost your job. I am not sure of the technical details on a CI policy but I believe it covers certain major conditions that would prevent you from working above and beyond any sick pay.

Do note the FOS can and does reject claims against MPPI even for people with civil servant levels of benefit (6 months full / 6 months half).

As a starting point, why do you think you were miss-sold (remembering them requiring you to buy through them is allowed) - is the policy unsuitable?

dunstonh

Anyway due to the midst of time I cant adequately recall the conversation we had and whether I was told it was compulsory or not.

That doesnt really matter as very few complaints succeed on unprovable allegations.

I do vaguely remember feeling like I should take it out - not that I was pressured but I did think at the time like I wasn't sure I had all the facts

You bought a mortgage. It is quite normal for people to take out insurance with a mortgage.

My question is - is it worth pursuing a claim against L&G or are they a tough nut to crack?

You havent actually given any reasons for complaint or wrongdoing. If you are going to complain, then you need to know your complaint reasons.

Insider101

Nothing much to add to the responses above. Any complaint regarding the matter should go to the broker not the provider. If they were an independent they are unconnected to L&G.

The problem here is that a complaint of missale is, simply put, about the advice or information you were provided with at the time of sale. So if you can't remember then it would be difficult to make one in good faith. PPI, critical illness and (unless you are single with no dependants) life cover are all generally good products to have with your mortgage.

Insider101

Nasqueron wrote: »

"is it worth pursuing a claim against L&G"

No as they didn't sell you it - miss-SALE is the issue, so you approach the person who sold it to you i.e. the broker.

Do note that if the broker does not charge you for the work they do, they are allowed to insist on buying insurance through them (for a commission so they can make a living) - so long as it is suitable.

MPPI is a fundamentally good idea as it protects what is likely to be your single most important/expensive asset - your home. If you lose your job and you cannot pay the mortgage you can be evicted and the house sold. Unless the MPPI could not pay out do consider whether you could have paid the mortgage and your other bills if you lost your job. I am not sure of the technical details on a CI policy but I believe it covers certain major conditions that would prevent you from working above and beyond any sick pay.

Critical illness pays a lump sum benefit if you are diagnosed with one of a specified range of serious (I.e critical) conditions regardless of whether you subsequently make a full recovery. It is not linked to sick pay but is often linked to the mortgage I.e a level of cover taken that is sufficient to repay your mortgage. It is often used in tandem with policies such as PPI or income protection to maintain standard of living, since payouts under these policies are limited to a certain percentage of your previous earnings, typically 50-65%.