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MPPI Annual Review Letters not received - Address not updated Natwest
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Smudge1984
Posts: 1 Newbie
Hi all, this is my first post here, just after a bit of advice. Has anyone come across one of these letters before? The letter arrived from the Natwest PPI operations team this week.
This is the wording:
We've identified an issue which means that you may not have received your Mortgage Payment Protection Insurance (MPPI) policy annual review letters before you closed your policy. This is because we may not have shared your updated address details with the policy underwriter, UK Insurance Limited.
The annual review letter is a reglatory requirement that provides a summary of the cost of your MPPI in the previous 12 months and reminds you of your right to cancel or switch.
If you think you didn't receive your annual review letters and wish to discuss any impact this may have had on you, please get in touch with us on the number below. You may be entitled to a refund for the impacted period.
My husband and I knew we had MPPI so that is not the issue but neither of us ever remember seeing an annual statement for it showing how much it cost.
Does anyone here have experience with this type of thing please?
Thanks so much!
This is the wording:
We've identified an issue which means that you may not have received your Mortgage Payment Protection Insurance (MPPI) policy annual review letters before you closed your policy. This is because we may not have shared your updated address details with the policy underwriter, UK Insurance Limited.
The annual review letter is a reglatory requirement that provides a summary of the cost of your MPPI in the previous 12 months and reminds you of your right to cancel or switch.
If you think you didn't receive your annual review letters and wish to discuss any impact this may have had on you, please get in touch with us on the number below. You may be entitled to a refund for the impacted period.
My husband and I knew we had MPPI so that is not the issue but neither of us ever remember seeing an annual statement for it showing how much it cost.
Does anyone here have experience with this type of thing please?
Thanks so much!
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Comments
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The review purpose is to ensure it's still right for you e.g. if circumstances have changed such as a job change, retirement etc not just to tell you the cost (which would be on your monthly/annual deduction from your bank account).
As they sayIf you think you didn't receive your annual review letters and wish to discuss any impact this may have had on you, please get in touch with us on the number below. You may be entitled to a refund for the impacted period.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Has anyone come across one of these letters before?
Yes. Plenty have.My husband and I knew we had MPPI so that is not the issue but neither of us ever remember seeing an annual statement for it showing how much it cost.
These are a bit nanny state as you can see the monthly direct debit. So, cost is not exactly new information for you.Does anyone here have experience with this type of thing please?
yes.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
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