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What can be claimed
AliK64
Posts: 1 Newbie
Hi I have mortgage related protection cover which I currently pay £40.98 A month for. I was told that I had to take this out when I got my mortgage and has to be paid until the end of The mortgage. It has no cash in value or end pay out. It covers death and critical illness. Does anyone know if this is the sort of cover/policy that can be reclaimed under PPI ? Thanks.
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Comments
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Does anyone know if this is the sort of cover/policy that can be reclaimed under PPI ?
Its not PPI.
Nor is home insurance, car insurance, pet insurance or travel insurance or any other insurance that is not PPI.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.0 -
It's life and critical illness insurance, not PPI, it was likely sold to you by a broker as part of a deal to get free advice (perfectly allowed) and means should you get injured and be unable to work or die your mortgage can be covered. Chances are it had some form of medical and would be well setup with a complete audit trail showing you agreed to it. Complaining wouldn't really gain much unless you can prove you are immortal and immune to any illness
Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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