Advice - L&G insurance

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Hi All,

I was wondering if I have any claim for the following.

I bought my flat in December 2006 and the mortgage advisor said I had to take out some insurance with L&G to go with my mortgage. In the end I took out contents and Accident, sickness and unemployment cover. I changed my contents to a different company over the years but I've just recently realised I'm still paying for the accident one which is £33 a month. I ended up making a claim in September as I was off ill for a month. Thought I may as well!

As the insurance has come to my attention recently I wondered if I was mis sold this as we were forced into taking it out by the mortgage advisor.

Any info would be great!

Thanks

Carly

Comments

  • Nasqueron
    Nasqueron Posts: 9,007 Forumite
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    It is a common (and legit) model for a mortgage advisor to give you free advice in return for buying insurance through them so they earn a commission. You could have paid a fee to avoid this. If the insurance was suitable (and it seems to be as you claimed on it) then no, it would not be miss-sold.

    If you did complain about a miss-selling you need to go to the advisor about it and they would be able to deduct the cost of the payout you got from any refund.
  • societys_child
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    If you used the insurance, in what way do you believe it's unsuitable?
  • dunstonh
    dunstonh Posts: 116,604 Forumite
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    As the insurance has come to my attention recently I wondered if I was mis sold this as we were forced into taking it out by the mortgage advisor.

    Brokers are allowed to insist on insurance as part of their pricing model (i.e. free mortgage advice if you buy the insurance with us). The requirement is that the insurance has to be suitable. it does not excuse unsuitable sales.

    Sounds like it is suitable for you. So, no apparent complaint here.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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