Successful MPPI claims? HSBC?

leestorm

Hi all
I was paying for MPPI for a number of years on my HSBC mortgage as I was told it was compulsory (I was 24 and naïve!).
Its was £38 a month and I had and still have an major illness. They advised it would cover "everything" however in hindsight it wouldn't. I honestly believe I was misold this especially in my case


Anyone come across this situation?


thanks all
Lee

dunstonh

I was paying for MPPI for a number of years on my HSBC mortgage as I was told it was compulsory (I was 24 and naïve!).

It may have been compulsory. There were periods in the 90s where the banks retailed deals that required an insurance cross subsidy purchase.

Anyone come across this situation?

If you think you were mis-sold then you put in your complaint giving your reasons. The reason you have given is weak. If it was compulsory they can reject your complaint. if it wasnt then its unlikely any evidence exists that would verify you were told that. In these cases, it tends to then be looked at on the basis of suitability and eligibility.

Insider101

dunstonh wrote: »

It may have been compulsory. There were periods in the 90s where the banks retailed deals that required an insurance cross subsidy purchase.



If you think you were mis-sold then you put in your complaint giving your reasons. The reason you have given is weak. If it was compulsory they can reject your complaint. if it wasnt then its unlikely any evidence exists that would verify you were told that. In these cases, it tends to then be looked at on the basis of suitability and eligibility.

I think the main reason for complaint would be the serious pre-existing condition. If this was not covered and was likely to cause the OP to take substantial amounts of time off, this would be the better argument for missale.

wolverines

Insider101 wrote: »

I think the main reason for complaint would be the serious pre-existing condition. If this was not covered and was likely to cause the OP to take substantial amounts of time off, this would be the better argument for missale.

x2 to this. Pre-existing medical conditions are a very valid complaint point, although the prospect of success would depend on the condition, the severity and the impact it had upon your ability to work.

dunstonh

I didnt read it as a pre-existing condition. Re-reading the post, then it does suggest that. If that is the case, then it could be a good complaint reason if the condition is serious enough to prevent a claim occurring.

leestorm

Its Crohns disease... suffered for 24 years. I did make it clear when taking out the MPPI

dunstonh

leestorm wrote: »

Its Crohns disease... suffered for 24 years. I did make it clear when taking out the MPPI

My gut feeling is that it is not enough to invalidate a claim on the policy in any other area. You will not be able to claim for that condition but it shouldnt prevent any other unrelated condition from being covered.

It's a bank though. So, you can never second guess what outcome they will come up with as they can be very inconsistent with their responses.