Nationwide free travel insurance

moneyistooshorttomention

Just a cautionary note here for account holders with Nationwide - as I could have fallen foul of it myself in all innocence.

Re the free travel insurance for holders of the FlexAccount - we get free travel insurance if paying in at least £750 per month.

So - I was doing so okay and then I retired at Retirement Age. That has meant I've not had my free travel insurance for about 3 years (ie Retirement Age of 60 onwards) because my income was less than £750 per month.

I don't recall ever receiving a letter from Nationwide once I had retired and my income, accordingly, went down temporarily saying "We regret to tell you we have had to remove your free travel insurance due to your monthly income having gone down beneath £750".

As far as I was concerned - I still had that travel insurance and would have put in a claim on it if I had needed to ever.

I only realised that they had taken it off me and not told me they had when I received a letter telling me I have access to it if I want because of my income being over £750 (ie its gone back up again - now I've reached my revised State Pension Age).

So I rang them up in puzzlement and said "I have it anyway" and was somewhat surprised to be told they had taken it off me when I retired and I hadn't had this in place for the last 3 years (all unbeknownedst to me).

Thank goodness I hadn't needed to make a claim on it during that time...whew.

*************

So, for anyone else with them whose income has gone down (whether temporarily or permanently) you do need to be aware they've probably taken this off you and not even told you they have.

marliepanda

we get free travel insurance if paying in at least £750 per month.

You knew the terms, and you knew you weren't fulfilling them at that point. Not sure why they need to inform you of that.

Sooler

3 things ...
1) they do make it clear the need to pay in £750 per month
but regardless of that
2) they state they do inform the customer if the cover ceases

3) you can qualify again by paying in £750 per month - should be able to to cycle money between accounts - pay it in, take it out. It doesn't have to be from a salary being paid in.

http://www.nationwide.co.uk/products/current-accounts/flexaccount/travel-insurance#xtab:twistyitem-1-eligibility-criteria

Latazza

marliepanda wrote: »

You knew the terms, and you knew you weren't fulfilling them at that point. Not sure why they need to inform you of that.

I think the OP means he has now found that out and therefore has put that in the OP, not a case he knew before

roddydogs

You also have to update them on medical conditions, how many do?

moneyistooshorttomention

I mean that I knew, when I opened the account originally, that those were the terms. I fulfilled those terms for some years. Then - due to no choice/fault of my own my income went down in between Retirement Age (ie 60) and that revised SPA of mine 3 years later.

So - what I knew was I needed to fulfil those conditions to OPEN the account in the first place some years back when I had opened the account originally.

I wondered whether my account might get forcibly closed on me by them when they saw my reduced income after retirement. They didn't close the account. So I assumed that all was carrying on as per normal. Either I had the account (in which case I had everything that went with it - ie that travel insurance) OR I didn't have the account at all and would have to swop to a bank that would accept a pathetic income level each month until I reached my SPA and my own bank would allow me to open an account with them again and I would swop and do so.

So - you know you have to fulfil that condition IN ORDER TO BE ABLE TO OPEN THE ACCOUNT IN THE FIRST PLACE. You don't know that you have to then keep paying that amount in each month and accordingly, some years down the line, just assume "I've either got the account (ie in full) or I haven't. They haven't told me I haven't - so all is as normal". I was still using that account in exactly the same way as prior to retirement (ie income being paid in each month/debits being paid out and still had the same overdraft limit). Nothing had changed as far as I could see in any way re my usage of the account - hence why I would have expected a personal letter saying "We've just taken away that insurance unless and until your income goes back up again" OR "We're kicking you out and closing down your account - because your income has gone down. We don't want people on that low level of income with us".

moneyistooshorttomention

roddydogs wrote: »

You also have to update them on medical conditions, how many do?

That point does get dealt with by them. I don't recall ever receiving a questionnaire to fill in including what my state of health is back before my income went down temporarily.

When my income went back up again I received this questionnaire from them (for the first time - as far as I recall). Hence ringing them up to say "Why are you congratulating me on getting this free insurance now - when I have it anyway? I've always had it anyway".

That's when I pieced together that they had taken it off me without my knowledge for the last 3 years.

During the course of the conversation with the callcentre operator - he told me that these questionnaires are now sent out every year. So - customers are now being asked automatically at regular intervals to say what their state of health is.

I guess customers had been assuming when they open the account "What they are doing is asking me about my state of health right NOW" and duly telling them the state of play at that point in time. I assume these questionnaires are now coming out because people made a claim on the insurance and were refused it. Presumably, there was nothing in writing telling the customer to update Nationwide with health developments - or, if there was, it was in the small print. Those questionnaires must be what Nationwide decided on as a way of checking on this at regular intervals.

Obviously if someone developed a health problem - it wouldnt be the first thought on their mind that they should tell their bank about it. It simply wouldnt occur to most people to think any further about health issues than how to resolve those issues and how to deal with any financial issues the health problems created for them (eg reduced income/increased expenses). I certainly wouldnt be sitting there thinking "When they asked me about my health when I opened the account - did they mean they wanted to know about any changes to my health in the future?". I would have taken a health question at absolute face value (ie as meaning "What is your health like?" would have been translated into "what is your health like right NOW?").

If there was/is something in the small print about updating the bank - then just how many people would think some years later "I had better tell my bank - just in case there is something in the small print saying I must tell my bank"?

Becles

roddydogs wrote: »

You also have to update them on medical conditions, how many do?

I have done.

I had a summer holiday and a city break abroad already booked and then was diagnosed with Crohns disease. They asked a number of questions and said they would still cover me under the free insurance.

When I book further holidays, I have to ring up and discuss my condition. If it's just ticking along with regular meds and seeing the consultant every few months, they'll probably not charge me any extra. If it gets worse and I have to go into hospital or need surgery, I have to ring back and they'll discuss it with me as I'll probably have to pay a extra for my cover.

Fosterdog

Didn't you notice that you annual renewal had stopped? I've been with them for years and every year I get a letter and a new policy document that is only valid for a year.

To be fair I don't see why they should specifically tell you that cover has ended when they make it completely clear what cover starts and what causes it to end (end of annual policy or failing to meet the terms)

Robin9

Fosterdog wrote: »

Didn't you notice that you annual renewal had stopped? I've been with them for years and every year I get a letter and a new policy document that is only valid for a year.

To be fair I don't see why they should specifically tell you that cover has ended when they make it completely clear what cover starts and what causes it to end (end of annual policy or failing to meet the terms)

Just like Fosterdog I get a letter every year and that confirms the £750 requirement.

What did OP do when he had to quote insurance details on his holiday booking form ?

People do need to take responsibility for these things themselves.

Pollycat

moneyistooshorttomention wrote: »

I don't recall ever receiving a letter from Nationwide once I had retired and my income, accordingly, went down temporarily saying "We regret to tell you we have had to remove your free travel insurance due to your monthly income having gone down beneath £750".

I think the bit in red is key.
You can't say you didn't receive a letter, just that you can't remember.
So it's quite possible that they did inform you but you forgot about it or didn't take it in, especially in light of the post below that says they do inform people.

Sooler wrote: »

3 things ...
1) they do make it clear the need to pay in £750 per month
but regardless of that
2) they state they do inform the customer if the cover ceases

3) you can qualify again by paying in £750 per month - should be able to to cycle money between accounts - pay it in, take it out. It doesn't have to be from a salary being paid in.

http://www.nationwide.co.uk/products/current-accounts/flexaccount/travel-insurance#xtab:twistyitem-1-eligibility-criteria

And in view of the last 2 posts, did you get a yearly policy document when you were covered and do you remember if that stopped after your income went down?