Critical illness cover when mortgage free but still paying endowment

pegginout

We have just discovered that we have critical illness cover on our endowment mortgage we took out in 1996.
I KNOW THIS IS NOT THE SAME AS PPI.

We paid off the mortgage in full in 2003 but continued paying the endowment to use as savings for our retirement.

We have never had any other loans so have not tried to get PPI claims previously,

My question is this, can we claim for this like PPI?
We never knowingly asked for it and as I understand it the person selling the mortgage will have financially benefitted form this in the form of commission.

Many thanks in advance

[Deleted User]

pegginout wrote: »

My question is this, can we claim for this like PPI?

No.

It's not PPI. Not every insurance was PPI and not even all PPI was mis-sold.

In what way do you think this insurance was mis-sold?

Your Critical Illness cover would still have paid out had you suffered a claimable event in the last 23 years. You won't get a refund simply because you haven't had any need to claim on the policy.



As to your Endowment, that's a ship which has long since sailed..

A Plevin commission claim does not apply either.

pegginout

Because we weren’t told about it and it wasn’t explained to us that it was optional.
I didn’t think we could get a refund because we hadn’t claimed, that was never my intention.

I understand the PPI deadline is approaching and as I am not experienced in claims of any kind I just thought I would ask as I wouldn’t want to miss out if there was!
Thanks for reply re Previn too.

[Deleted User]

pegginout wrote: »

Because we weren’t told about it and it wasn’t explained to us that it was optional.

That's not a valid complaint I'm afraid.

pegginout wrote: »

I understand the PPI deadline is approaching

Your insurance is not PPI

pegginout wrote: »

Thanks for reply re Previn too.

Andre died recently.
Plevin, however..

pegginout

I know it’s not PPI.
My question was can we claim for it being mis-sold
Thanks for your help and reply.

dunstonh

My question is this, can we claim for this like PPI?

No.

We never knowingly asked for it and as I understand it the person selling the mortgage will have financially benefitted form this in the form of commission.

Sorry but that doesn't wash. Endowments were regulated from 1988 (unlike insurance which was 2005). They fell under investment class and the quotes issued at the time of the sale would confirm what you applied for. As would the cancellation rights sent to you and the policy document. Along with the reasons why letter (as it was called back then).

A commission was normal for products of that type back then and had full disclosure on the quote when you took yours out.

Because we weren’t told about it and it wasn’t explained to us that it was optional.

What proof do you have to back up that allegation?
How are you going to counter the fact that there are at least 5 documents issued in the sales process that show it being on there?

I understand the PPI deadline is approaching and as I am not experienced in claims of any kind I just thought I would ask as I wouldn’t want to miss out if there was!

CIC is not PPI.

[Deleted User]

pegginout wrote: »

My question was can we claim for it being mis-sold

Nothing you have so far said indicates that it was in any way mis-sold.

Please understand that not every insurance is PPI and not even every PPI was mis-sold.

pegginout wrote: »

I know it’s not PPI.

So why do you mention the PPI deadline?

pegginout

Sorry I was just wondering and thought I would ask on here as MSE forums have always been so useful to me in the past.

pegginout

I know it isn’t PPI.
I was only asking.....

[Deleted User]

pegginout wrote: »

I know it isn’t PPI.

..................

pegginout wrote: »

I KNOW THIS IS NOT THE SAME AS PPI.

Why have you added this edit?:eek:

pegginout

I have tried to remove my original post but i don’t know how sorry.