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Mortgage Payment Assurance Policy
Consumer66
Posts: 27 Forumite
I had something called a "Mortgage Payment Assurance Policy", which was sold via my bank when I took out a mortgage 20 years ago. My bank's initial response to my query about re-claiming it is that it was life insurance - but is it written on the policy documents that it is "Mortgage Payment Assurance Policy" ?
Helpful comments appreciated.
Helpful comments appreciated.
0
Comments
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Sound like decreasing life assurance, rather than PPI.0
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Yes, it pays out on death and is therefore life assurance.Consumer66 wrote: »I My bank's initial response to my query about re-claiming it is that it was life insurance - but is it written on the policy documents that it is "Mortgage Payment Assurance Policy"
Banks are not in the habit (that I'm aware) of mis-describing the cover provided by the insurance policies they sold. Why are you doubting that this is Life Assurance?
Note that not all insurance was PPI and that not even all PPI was mis-sold.0 -
Moneyineptitude wrote: »
Why are you doubting that this is Life Assurance?
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Why? Because of what it was called ie "Mortgage Payment Assurance Policy".0 -
You should note that not all insurance was PPI and that not even all PPI was mis-sold.Consumer66 wrote: »Because of what it was called ie "Mortgage Payment Assurance Policy".0
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