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Dear MSE, we were sold a TSB Mortgage Sure insurance in 1992 (its a PPI for mortgages) and my husband was self employed at the time (and still is). We have filed a complaint with Lloyds TSB and their decision is that we weren't miss sold it but they won't confirm if it pays out to people who are self employed. Is there anything else we can do (we are still paying for it as we still have the mortgage)?

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  • dunstonh
    dunstonh Posts: 116,643 Forumite
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    but they won't confirm if it pays out to people who are self employed.

    If it didnt, they would have upheld the complaint. Virtually all MPPI pays out for the self employed.
    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.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    mrssj wrote: »
    Is there anything else we can do (we are still paying for it as we still have the mortgage)?
    You can request cancellation of the insurance. First, though, you should request the full terms and conditions of the insurance, particularly as it is still in operation. You'll then know exactly what eventualities you are covered against.

    Unfortunately, nothing you have said indicates that you'd have any success at the Ombudsman but you do have the option of referring your complaint to them if you are still dissatisfied.

    However, don't send it on if your complaint was simply that the insurance did not cover the self employed unless it actually didn't.
  • mrssj
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    for information, after persistently asking for a copy of the policy, LLoyds eventually sent a brochure (the insurance was Cheltenham and Gloucester) and it stated self employed were not covered for being unemployed so we ended up getting our money back.
  • dunstonh
    dunstonh Posts: 116,643 Forumite
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    mrssj wrote: »
    for information, after persistently asking for a copy of the policy, LLoyds eventually sent a brochure (the insurance was Cheltenham and Gloucester) and it stated self employed were not covered for being unemployed so we ended up getting our money back.

    That is strange.

    In the first post you said it was the TSB mortgage sure product. However, you now say it was a C&G ASU. These were two different products. Having checked the FOS publications, the C&G ASU did cover self employed. I can see from the FOS publications that they have been rejecting complaints from people using self employed as a reason stating that it was not any more difficult for a self employed person to claim on the policy than an employed person.

    It is good you won your complaint but the information is inconsistent with other complaints and the FOS responses.
    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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