Income Protection LV

damobolton

Apologies if this seems a daft a question but I'm unsure if the Income Protection i took out in 2004 qualifies as being mis-sold.

In short the company i worked for at the time offered us a lump monetary sum that we could discuss with the company appointed broker. I was sold Income protection via LV at £51.48 per month with an extra £1.54 waiver of premium per month.

Would this qualify?

Thanks

Nearlyold

No one can tell you if it was missold based on the information you have provided?


Were you ineligible for the cover?


Did it duplicate cover you already had?


What do you think is wrong with the cover?


I'm assuming your employer offered you an optional range of paid for additional benefits as part of your employment package which were could be arranged through the broker such as life cover, private health care, permanent health insurance etc. USA based companies seem to offer these sort of optional benefit packages.

Insider101

damobolton wrote: »

Apologies if this seems a daft a question but I'm unsure if the Income Protection i took out in 2004 qualifies as being mis-sold.

In short the company i worked for at the time offered us a lump monetary sum that we could discuss with the company appointed broker. I was sold Income protection via LV at £51.48 per month with an extra £1.54 waiver of premium per month.

Would this qualify?

Thanks

You will need to tell us I am afraid. Why do you think it was missold, i.e. what do you think was the wrongdoing?

IP is not PPI, it is a good quality insurance product which a lot of people have a need for. Like anything it can be missold, but if that is the case then what misleading information or incorrect advice do you feel was given?

magpiecottage

In 2004, income protection was not regulated.
It sounds like it was an independent broker, and long term income protection (PPI and the like do not have waiver) so it would not fall under the GISC code.

So, as things stand, it seems like FOS will not have jurisdiction.

dunstonh

I was sold Income protection via LV at £51.48 per month with an extra £1.54 waiver of premium per month.

income protection is one of the most important insurance policies a person can have.

but I'm unsure if the Income Protection i took out in 2004 qualifies as being mis-sold.

You havent given a single complaint reason. So, we cannot comment on whether it was mis-sold or not. So, why do you think it was?