limited term life insurance

frenchfilly

Hi, we were sold life insurance policies in 2000, a 10 year policy for my husband who was 40 at the time, and a 20 year one for me, i was 38, it wasn't until his ran out in 2010, that we realised how useless this was and perhaps we were talked into a policy that was not suitable for us at the time, do we have any grounds for a claim?

[Deleted User]

Why were they unsuitable? They only pay out if you die.

[Deleted User]

frenchfilly wrote: »

it wasn't until his ran out in 2010, that we realised how useless this was

Young people die all the time. You won't get a refund of Life Insurance just because you didn't suffer a claimable event. This is not PPI.

Nearlyold

frenchfilly wrote: »

Hi, we were sold life insurance policies in 2000, a 10 year policy for my husband who was 40 at the time, and a 20 year one for me, i was 38, it wasn't until his ran out in 2010, that we realised how useless this was and perhaps we were talked into a policy that was not suitable for us at the time, do we have any grounds for a claim?

If your husband is still alive then you have no grounds for a "claim". If you wanted your husband to have continuing life cover you could have applied for another policy. Even if you were to try and cobble together some sort of complaint that the policy only lasted 10 years you would be time barred anyway as you knew 7 years ago the policy had ceased which is well over the three year limit. Please don't spend anymore of your time on this, I'm afraid there will be no compo coming your way.

haras_nosirrah

Did you go for a shorter time period as it was cheaper? Why did you choose to end his earlier - was he more expensive to insure and therefore you wanted to end his when the kids were no longer dependent?

We see it all the time where people only look at the short term and choose a shorter term policy because of cost. They then realise that to get another policy when they are older is insanely expensive but that is the gamble.