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Life insurance
Deelew
Posts: 2 Newbie
I was wondering if anyone can help or advise me regarding life insurance if I could claim back on the fact I was Mia sold
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Comments
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How was your life insurance mis sold?0
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How was your life insurance mis sold?
Because OP is still alive?0 -
I was wondering if anyone can help or advise me regarding life insurance if I could claim back on the fact I was Mia sold
On what basis would you complain? You can hardly expect a refund simply because you haven't died!
Life Insurance is not PPI and even PPI is not automatically somehow wrong.0 -
No may be not dead !!
But I've recently become in well n they say Iam not entitled as Iam self employed so what use was it0 -
Why would you be not eligible for Life Insurance? What would being self employed have to do with it? If you die, the insurance pays out whatever you do for a living...But I've recently become in well n they say Iam not entitled as Iam self employed so what use was it
If you are referring instead to Critical Illness cover, do you actually have a critical illness?0 -
No may be not dead !!
But I've recently become in well n they say Iam not entitled as Iam self employed so what use was it
You seem to be mixing up 2 (or more) products
Life insurance is a policy that will only ever pay out if you die. It is considered to be useful unless you have no dependants / joint finance e.g. a single person buying a house could argue they have no need for it, a person with a family would struggle to argue they didn't have a financial need. If you can prove you are immortal then you don't need it. If you are still alive you cannot claim on it for obvious reasons (outside of fraud / faking a death)
A policy which pays out when you are unable to work due to illness would be something like PPI or CI or ASU (different names for similar products though not the same!). If you had such a policy and it wouldn't pay out due to you being self employed you could argue it was miss-sold.
Can you clarify what product you actually have?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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No may be not dead !!
But I've recently become in well n they say Iam not entitled as Iam self employed so what use was it
Your employment status (bar some high risk jobs like bomb disposal) is totally irrelevant to life assurance.
Life assurance is very simple. You are either alive or you are dead. When you apply for the life assurance you complete a medical questionnaire. The policy is undewritten at point of sale and your health status later on down the road is totally irrelevant to the policy.
So, unless you have some weird life insurance plan rather than the mainstream life assurance plan, your reasons do not fit the product.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.0
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