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Jewelz1965

Hi everyone, Not sure if i am in the right place as I have never used a forum before. I'm not sure if what i had is classed as PPI , Aviva say it is not. It was called a term assurance policy and I was under the impression it was something i had to have otherwise my mortgage company would not give me a mortgage. It was designed to pay out on death or chronic/critical illness to cover my mortgage . Hope someone cab help. Thank you.

[Deleted User]

It's a life/critical illness policy. A sensible purchase.

It's not PPI.

dunstonh

I'm not sure if what i had is classed as PPI

PPi stands for payment protection insurance. It is a specific type of insurance.

It was called a term assurance policy and I was under the impression it was something i had to have otherwise my mortgage company would not give me a mortgage.

Term assurance is life assurance. Not PPI.

Most lenders insisted of life assurance as a condition of borrowing until the mid to late 90s. That is allowed. Some mortgage brokers insist on an insurance purchase to cross subsidise free mortgage advice. That is allowed as long as the insurance is suitable. And as most people take out insurance to cover their morgtage, it does no harm.