HSBC Income Payment Protection

John_Chip

Hello,

I have just learnt that my wife had HSBC Income Payment Protection between 2002 and 2004 when self employed.

She was paying HSBC an amount of £1766 —- when starting her business, paying herself about 12K a year.

From what she tells me this was pressure sold to her — ‘what if your parents died suddenly? - what if you broke your leg? - You do not want to go to your family - you need to be independent’.

She still has the paperwork and the name of the person at HSBC who sold her the Income protection.

Is there any process to complain about this?

I know this is not PPI - but she paid HSBC nearly 6k over 3 years, and I think it was mis sold.

Thank you - John

dunstonh

I have just learnt that my wife had HSBC Income Payment Protection between 2002 and 2004 when self employed.

It is very common for self employed to have income protection. I have arranged many plans myself. I wouldnt have used HSBC as bank products are rarely good quality and they are expensive. However, absolutely nothing wrong with income protection.

From what she tells me this was pressure sold to her !!!8212; !!!8216;what if your parents died suddenly? - what if you broke your leg? - You do not want to go to your family - you need to be independent!!!8217;.

Pointing out the facts in a shortfall analysis is normal and allowed. There is no absolute line to cross as its impossible to have such a thing. However, credibility is given to those that complain within weeks, months or even a year. However, someone complaining about a pressure sale 16 years after the event has no credibility on that point.

and I think it was mis sold.

Yet you have given no reason in your post as to why you think it was missold. Its difficult for us to comment if you dont tell us why.