Payment protection has gone into liquidation

Alipat75

Hi everyone or anyone that can help. So I have been paying into a payment protection insurance (£20 a mth) for around 4-5 years. I am in a difficult position where at present I am experiencing a difficult time with my anxiety and I am finding it difficult to function in work. I don't want to have to leave work BUT as I will be taking on a new role in a few weeks within work, I worry that I can not give it my all.



I rang up the insurance company and enquired if I was finding it difficult to stay in work would I be covered to come out to recover. I was told that only if I was signed off by a consultant psychiatrist.



BUT....they then went on to inform me that the company that I have been paying into have gone into liquidation, AND... that the company that will be taking over my payments will not stand by any claims made after the 7th Feb.


SO... I am gutted that I now have no safety net,



My question is.... is there anything that can be done here? I feel it very unfair that Ive paid into this for these years and now that I need it they are telling me that its gone!!! I dont want to rush into making a decision with work just because of them only considering a claim before the 7th Feb. Also to get an appointment with a consultant would be at least 6 weeks!!


if anyone can help please!!:eek:

[Deleted User]

Your post doesn't make sense. If they will not process any claims after 7 Feb, why would you continue the policy?

Are you sure they didn't say BEFORE 7 Feb?

Weighty1

Most PPI type policies will NOT cover mental health disorders unless you are under the care of a physician of the Royal London College of Psychiatrists. This would be highly unlikely to be be the case if you are experiencing work related stress. Chances are you'd stay under the care of your GP and potentially be referred for CBT or counselling, but not be referred to a psychiatrists. That would be the equivalent of you being referred to a neurologist just because of the odd headache, it simply doesn't happen.

That said, you may know something I don't, however, in 99% of cases I wouldn't expect this type of plan to be much use in this situation I'm afraid.

Alipat75

Sorry my mistake I meant until 7th Feb

stator

As Weighty1 has said. This sort of stress type thing isn't usually covered by that type of policy.
So switch your cover to a more reliable provider. Find a provider that will waive the initial exclusion period if you already have a policy.


But you'll have to stick it out at work