Sorry another PPI question?

AnnPM

Hi
I have recently finished paying off a loan to which were attached 3 Lifetime protection products. 1 with Standard Life and 2 with Bright Grey.
Everything I have read says that no I cannot claim for PPI because the companies used did not sell PPI
However my question is as all products were to do with the loan and would only pay out if the loan could not be paid and that there was no payout as such once the loan was repaid, surely this could be classed as PPI?
Would not have taken out by choice as has been proved no one has died or been terminally ill (thankfully) during the time of the loan

Thank you all for your help in anticipation

-taff

Life insurance is not PPI. No, you can't claim it back.

Nearlyold

However my question is as all products were to do with the loan and would only pay out if the loan could not be paid and that there was no payout as such once the loan was repaid, surely this could be classed as PPI?

The policies you have would almost certainly (knowing the providers) pay out if you suffered a claimable event irrespective of whether or not the loan existed or do you simply mean the policy terms are the same as the loan??

The fact that you did not have to claim on the policies does not make them unsuitable and thus miss sold.

Basically what you are saying is you've had the protection of the policies but because you didn't have to claim you feel somehow entitled to get your money back.

dunstonh

Everything I have read says that no I cannot claim for PPI because the companies used did not sell PPI

Which is logical when you think about it because complaining about PPI when they havent sold you PPI is daft.

However my question is as all products were to do with the loan and would only pay out if the loan could not be paid and that there was no payout as such once the loan was repaid, surely this could be classed as PPI?

That is like asking if your car insurance is PPI or your house insurance is PPI. It cant be. PPI stands for payment protection insurance. It is a product type.

Would not have taken out by choice as has been proved no one has died or been terminally ill (thankfully) during the time of the loan

So, you want to complain that you didnt die? That is a rather daft complaint reason. When you took them out, it was not known whether you would be alive at the end of the term or not. Most people would be pleased that a claim on the policy wasnt needed otherwise that would mean one of you was dead.

No banks have been tied to Bright Grey or standard Life policies for many years. Not sure Bright Grey has ever been linked to a tied agency. So, who would you actually be complaining to?

societys_child

It must be "I haven't died, gimme my money back" posts day.