Have I been mis-sold Life Assurance & if so, how do I claim

photo_guy

I took out life assurance just over 11 years ago when I took out my Mortgage.
I used an independent financial advisor who didn't charge for his services directly (obtained his fees from the services he recommended).

I got a Nationwide mortgage & life assurance with CI insurance from Scottish Equitable.
Nationwide didn't require me to take out life assurance with the mortgage.
I distinctly remember the advisor saying that even though I had no dependants at the time (and still don't), it was better to take out the insurance at the same time as the mortgage as it would be more expensive to take it out when I was older.
I was paying a sizeable deposit for the house so there was no chance the value of the house would be less than the mortgage.
My work pension also has a death in service benefit which covered the value of the mortgage which I remember showing to the advisor who said it would still be advisable to take out the life cover (I can't remember the reason he gave now but it sounded convincing to my naive ears).

Have I been mis-sold this life assurance?
I don't believe I needed the life assurance.
Not so sure about the critical illness part (lump sum payout) but I was also advised to take out disability income benefit (sickness, accident or disability) cover with premium payment benefit from Scottish Provident.
I'm not sure how much overlap there is between the two policies though.

If I have been mis-sold the life cover, what steps can I take next?
Is it possible to claim back my payments like with PPI policies?

dunstonh

I used an independent financial advisor who didn't charge for his services directly (obtained his fees from the services he recommended).

A very common model and one that is allowed as long as there is a financial need for the insurance recommended.

I distinctly remember the advisor saying that even though I had no dependants at the time (and still don't), it was better to take out the insurance at the same time as the mortgage as it would be more expensive to take it out when I was older.

Its true and the FOS have supported that in similar complaints and ruled in favour of the adviser.

Have I been mis-sold this life assurance?

No.
If it was life assurance only then you would have no financial need. It would be a toss up if the FOS ruled in your favour. However, as you have CIC included, then its a no brainer to include life assurance. CIC only vs life and CIC is usually only a few pennies difference per month. Sometimes no difference at all. So, including it is common sense.

I'm not sure how much overlap there is between the two policies though.

none.

Is it possible to claim back my payments like with PPI policies?

Nothing you have said suggests there is anything wrong.