prudential

k_brown_2

Hi.
I am.a new member and hoping you can help me a little.
Trying to cancel a missold life insurance policy that was started in conjunction with a nationwide mortgage in 2003.
The independent advisor who sold it is no longer trading.
Have phoned prudential who say I can cancel but will loose all the money payed in.
Phoned.fscs who say pre 2005..... tough, seek legal advice.
Phoned ombudsman who say they can't help as advisor no longer trading to make a complaint.
Where to go?
Shall I just cancel.with prudential?
Thanks

-taff

You have nowhere left to go.
Why don't you need a life policy?

Nasqueron

The life insurance might have been a requirement of the broker to get advice free - why do you think it was miss-sold?

Possible in 2003 you might have had to have life insurance to get the mortgage but I am sure Dunstonh can clarify that

[Deleted User]

Hi,

if you don't need it now for the mortgage, you could maybe make it paid up, no more payments, and still have the life cover.

dunstonh

The independent advisor who sold it is no longer trading.

As a 2003 case, it is pre-regulation. You have no-one to complain to. Game over.

Have phoned prudential who say I can cancel but will loose all the money payed in.

Life assurance pays out if you die. Its like household or car insurance. It has a value when a claim is made.

Phoned.fscs who say pre 2005..... tough, seek legal advice.

Legal advice will be to give up as there were no regulations at point of sale. Plus, it is generally regarded as good advice to have life assurance when you have a mortgage.

Shall I just cancel.with prudential?

We dont know you or your circumstances. So, we cannot say.

addedvaluebob

What was the name of the advising company?

k_brown_2

Thank you for your input.