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MPPI refund legit as I claimed in redundancy?
Justch
Posts: 1 Newbie
Several years ago I claimed for the maximum 6 months on my MPPI when I was made redundant. The figure amounted to around £2400, which was roughly the same as I'd paid into the policy at the time over the years. I continued paying into the policy for a further 3 years after and then sold my place. I've always felt it would be wrong to submit a refund claim because I benefitted from the policy. Anyone able to offer any advice?
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Comments
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It's not a refund claim. It's a mis selling complaint.
So if you feel you were genuinely mis sold, put in your complaint. But given it seemed to be a very suitable product, what are your mis sale reasons?0 -
I've always felt it would be wrong to submit a refund claim because I benefitted from the policy. Anyone able to offer any advice?
1 - you would not be submitting a refund request. You would be making a complaint that the policy was missold and unsuitable for you. Clearly it was suitable for you.
2 - If your complaint was upheld, they will deduct the amount of any claim paid from your complaint redress.
3 - As the policy paid out, this indicates that you knew about the policy, were eligible for the policy and it was suitable for you. So, what would you actually be complaining about?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 -
You've not said why you think the policy was mis-sold?Anyone able to offer any advice?
List your reasons and posters will be able to offer further advise.0 -
So what has changed your mind?I've always felt it would be wrong to submit a refund claim because I benefitted from the policy.
Remember, you won't get a refund of the further three years you paid the policy simply because you didn't suffer a claimable event.
To be honest, it's difficult to see what reason you might give that the policy was mis-sold to you. Claiming on the insurance precludes you from alleging that you didn't know about it. It also indicates you were eligible for the insurance and that it was suitable.
What other complaint can you have?0 -
It amazes me how many people think they can 'claim' it back, just because they paid it...make the most of it, we are only here for the weekend.
and we will never, ever return.0
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