Mortgage protection insurance claims

kaffling

Hi, new to the forum. Can I ask a question, my hubby has been paying MPI/life insurance for 15 years we only found out today that he was covered for illness and unemployment. Over the last few years he was on incapacity benefit and had to leave work... we did not think he was covered. We only found out today that he could have claimed up to £400 per month to help with the mortgage. We checked with the financial advisor and she told us we didnt have the cover. Can we try to reclaim the money, also he is now self employed so the policy would now be void...thanks

dunstonh

my hubby has been paying MPI/life insurance for 15 years we only found out today that he was covered for illness and unemployment.

Are you saying it is life assurance or MPPI or that he has both? or is there critical illness cover?

Over the last few years he was on incapacity benefit and had to leave work... we did not think he was covered. We only found out today that he could have claimed up to £400 per month to help with the mortgage. We checked with the financial advisor and she told us we didnt have the cover. Can we try to reclaim the money, also he is now self employed so the policy would now be void...thanks

Couple of things here:

1 - If the financial adviser said he was not covered, why do you now think he would have been?
2 - Self employment is not an issue with life assurance, critical illness cover or income protection or even most types of MPPI. So, it probably wont be void.
3 - If it is an MPPI and he would have been covered then most insurers will consider claims on the policy still. So, that door has not been closed.
4 - 15 years ago means that it is pre-regulation. So, if this is an IFA or mortgage broker, then you are going back to a time that is likely to see the sale classed as pre-regulation. If its a bank/building society or they were an agent of the insurer, then they are not affected by that.

I think we need clarification on what the policy is.

Nearlyold

How did you find out today what the policy covered you for?
Have you contacted the insurer to see if they will look at a retrospective ill-health claim?
When did the financial adviser tell you you didn't have the cover?
Why do you believe the policy will be void if your husband is self employed, does it state this in the policy documents?
On what basis would you want to "reclaim the money"

kaffling

We received a letter with MPI/life insurance policy on it, which made me question what the policy was for. I contacted our financial advisor and was told that we did indeed have illness cover and it should have covered my hubby when he was unemployed. Although it will not cover from the time he has been self-employed the last few years. Legal and General are going to send us a copy of the policy so we can clarify it.

The reason I would like to find out about re-claiming is the fact that we were lead to believe when my husband was sick that we could not claim to have help with the mortgage (about 6/7 years ago), he then left work and was unemployed for 2 years when we could have had help, when we had just had a baby and I was living on maternity pay. I also took out another policy with legal and general for life insurance, they did not tell me that my husband already had a policy. Obviously we were a bit green when we took out our mortgage but I suppose some of the fault lies with the financial advisor not telling us what cover we were signed up to.

[Deleted User]

kaffling wrote: »

I also took out another policy with legal and general for life insurance, they did not tell me that my husband already had a policy.

Nobody would check that as part of a sale, nor would they be required to.

kaffling wrote: »

I suppose some of the fault lies with the financial advisor not telling us what cover we were signed up to.

No, all of the fault lies with you for not checking yourself what cover you were paying for and signed your agreement to. Could it be possible that, fifteen years on, you've simply forgotten?

Instead of looking to "reclaim", you should approach the insurer about a retrospective claim on the insurance.