HSBC Life Insurance

Angiep_2

Hello all I am new to the site, I only found out about it because of the Trevor McDonald show the other night as I live in Lanzarote so dont get to read the normal press etc. I used the template and wrote to HSBC regarding both my repayment protection insurance £23 per month and my life insurance £57 per month for the house we used to own in Coventry England. I faxed it to them and I received a call straight away saying they agree it needs looking into and will be in touch. I always felt I had been scaremongered into buying the policies, we were young and it was our first house etc and I always thought it cant be right but never have I been motivated to do something about it. Thanks to this site I am. I have emailed my friends and family and even changed my facebook status for the day to read "Angela is....going to reclaim money from HSBC thanks to Martin Lewis Money Saving Expert" ! So I am doing my bit to spread the word. Will keep you posted on the progress and would love to know if anyone else had sucess with HSBC.

:T

dunstonh

I always felt I had been scaremongered into buying the policies,

Which is not grounds for complaint. Being told the consequences of not having cover is a requirement and complaining about an adviser doing their job within the rules isnt going to get you far.

You probably have little or no chance of getting any money back on the life assurance unless you can show that you had no financial dependents at the time. As you used the term "we" that suggests you did so exepect to be rejected. The advice was good and cannot be disputed.

Also, payment protection on a monthly basis is not a mis-sale either. Again, you would have to show that you didnt have a need for it for it to be classed as a mis-sale. There is a world of difference in personal loan payment protection or single premium payment protection compared to mortgage payment protection.

You may get lucky but I certainly doubt you will on the life assurance and you havent given a valid reason why you would on the MPPI.

jolouisa

I wrote to HSBC a year ago to complain about mis-sold life insurance. I booked a mortgage over the phone and I was made to believe life insurance was compulsory as part of my mortgage, even though I explained I had a policy through work that would cover the mortgage. I had no dependants and bought the house alone. They rejected my claim at the time and I didn't pursue it but I'm going to now. I'm sure they mislead you with these things and it really annoys me so go for it anyone out there. They have been handing our hard earned money over to rich shareholders for long enough.

dunstonh

They rejected my claim at the time and I didn't pursue it but I'm going to now.

You have 6 months to appeal the complaint or take it to the FOS. After that you lose the ability to raise the complaint again and you cannot go to the FOS.

Only if you have new information/evidence can the FOS re-open the case.