critical illness/income protection plan

Deewm76

I worked in financial services for many years and these policy's are genially very good. I cannot think of a reason why it would be miss-sold unless your advisor completed your health questions for you knowing you had complex pre exsisting medical conditions (which would have resulted is non payment of a claim)
or a policy which would have been declined by the underwriters before the policy commenced.

Nearlyold

Allied Dunbar plans may not have been the cheapest but there was nothing wrong with the cover.

The Allied Dunbar Income Protection Plan was a unit-linked life assurance plan, which in return for regular contributions for the duration of the plan, was designed to provide a regular income after a deferred period if your earnings stopped due to illness or disability and you are unable to work. (As far as I can recall the life cover was a token amount)

In your case it would have provided an income of £10,000 pa after a 3 month deferment period - that was very good cover, its important to realise that if you had suffered an illness such that you were unable to work, the income is paid until you return to work or the expiry of the plan (this was often set to retirement age or perhaps in your case mortgage expiry). Its not just payment for 12 months as is the case with PPI its potentially £10,000 pa for the rest of your working life - a potentially massive pay out.

Why is everyone so desperate to have been miss sold something?

-taff

Not got any savings

spencer999

was just a shot in the dark. The paperwork arrived with my pension update which was a pleasant surprise as it's £42k more than I thought. Hadn't touched it in years. So mustn't grumble