Can i claim, no paperwork, ended policy in 1997

BakerGal

Hi all,

When i was 18 I bought the property in which i still reside. At the time i took out accident, sickness and redundancy policy to cover me with any misfortune and ensure mortgage payments would still be made. However, in 1997 I was made redundant and i remember contacting this copmpany to inform. At the time they said because I was under the age of 25 I woulnt be able to make a claim. On that day I cancelled the policy as it was no use to me and didnt fulfil its intentions.
Now I am looking to claim back... I remeber making payments of 17.50 per month. The problem is, I dont have any paperwork and only from memory remeber the company was called Pheonix, which no longer trade. I no longer have the bank account which this payments was made from. I called the bank this morning and given how long ago they no longer hold my records on a closed account. I have also called a couple of insurance companies that were linked to Pheonix but they also state that paperwork that old has now been destroyed... does this mean I wont be able to take this any further.
Its so annoying as at that time, I was 24, no job, trying to make mortgage paymets and struggled. I felt devestated when the policy didnt come through with some stupid excuse due to my age. The money would not feel justice has been redeemed...but I could really do with every penny right now ...
I would really appreciate to hear from anyone who can help. Thank you

[Deleted User]

Nineteen years after the account was closed you have no chance with this.

Even if you had full details of the account, it's eight years prior to regulation and you say the firm is no longer trading.

Time to forget about this one and move on...

BakerGal

Oh no....ive dug around some more and found the policy was held with Royal Life, Royal insurance...who apparently are now called Pheonix...do i still have no chance?

dunstonh

At the time i took out accident, sickness and redundancy policy to cover me with any misfortune and ensure mortgage payments would still be made.

Sounds like a very sensible thing to do. That is why most MPPI complaints fail to succeed and why you can still buy MPPI today.

However, in 1997 I was made redundant and i remember contacting this copmpany to inform. At the time they said because I was under the age of 25 I woulnt be able to make a claim. On that day I cancelled the policy as it was no use to me and didnt fulfil its intentions.

And at that point it activates 3 years to complain otherwise it can be timebarred.

The policy sounds like it was not sold by a bank or building society (as it was not bank/bs branded). So, this would suggest a broker or adviser firm was used. They did not become regulated until Jan 05. So, this is a pre-regulation case.

BakerGal

Thank you for taking the time to respond....Does that mean it ends here?

dunstonh

You would have to complain to the original firm that sold it.

1 - They could automatically refuse to consider your complaint as it was pre-regulation. They would have to volunteer to look at it (unlikely)
2 - They could time bar the complaint as the 3 and 6 year rules are both satisfied.
3 - There would need to be records
4 - They would still need to exist.
5 - You dont have access to the FOS or the FSCS (so cant use either of those two if the firm does not exist).

So, effectively, this is dead in the water.

BakerGal

Thank you... blummin' unfair in 1997...and now it would seem. I appreciate your time, comments and advice. Many thanks