Payment Protection Benefit with Critical Illness Cover

rodgerpb

In 2001 I took out a Life Assurance/Critical Illness policy with Scottish Provident to cover a re-mortgage. This is now due to come to an end.
In reviewing the paperwork, I have noticed that it says "The total; premium of £xx.xx includes £5.31 (per month) of Premium Payment Benefit (sickness, accident or disability)"

Is this Premium Payment Benefit a form of PPI for which I can make a claim of mis-selling (it was not offered as an option and not explained)?


If so - how should I go about it?


Rodger

HappyHarry

It's not PPI.

It's waiver of payment benefit.

It's very common. If you become too ill to work, this benefit carries on paying your critical illness cover premiums. This is essential, especially if you get a degenerative illness that doesn't initially meet the definitions of the critical illness policy, but could do later. It means that as your illness gets worse, you don't have to pay the premiums, but are still covered for critical illness, and your claim will be valid when your illness meets the critical illness definition.

dunstonh

Is this Premium Payment Benefit a form of PPI for which I can make a claim of mis-selling (it was not offered as an option and not explained)?

As HH mentions above, its not PPI.

Also, your memory recollection is likely to be off. it was 17 years ago after all and it is estimated that you forget around 70% of what you are told within weeks. In 2001, the quotes issued at the point of sale would have shown it included. The confirmation issued with the cancellation rights would have shown it. And it would have appeared as a recommendation on the report you should have it and what it was. In 2001, it was considered best advice to include waiver.

rodgerpb

Thank you both for the quick and clear advice. Even if there was no mis-selling involved here it does no harm to ask the question!


Rodger