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Will policy be cancelled?

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misscanon
misscanon Posts: 12 Forumite
in Reclaim PPI & other insurance
Sorry, I'm sure this must have been covered before but I can't fing anything on the site.

If I make a claim for PPI miss selling or Plevin, will my provider cancel the policy? I'm weighing up the value of redundancy cover provided (having paid in for 17 years) against any pay out I may get. I work in retail and there are lots of redundancies about!

Many thanks in advance.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    If you complain that you should not have been sold it, then yes, it will be cancelled.

    If you want the policy, I wouldn't complain to them that you don't want it.
  • Nasqueron
    Nasqueron Posts: 10,701 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    You might get away with a Plevin only complaint but if you complain it was miss-sold, you're saying you didn't want the policy so yes it should be cancelled, potentially costly if you actually need to claim on it.


    If you claim and it's rejected you could then complain it was miss-sold

    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.

  • RonoB
    RonoB Posts: 42 Forumite
    Why don’t you shop about and see if you can get a similar cover elsewhere cheaper?
  • Nasqueron
    Nasqueron Posts: 10,701 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    RonoB wrote: »
    Why don’t you shop about and see if you can get a similar cover elsewhere cheaper?


    You won't get a new policy if there is a known threat of redundancy, if it's just a general comment on industry jobs then I guess so but probably safer to keep the existing policy

    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.

  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    RonoB wrote: »
    Why don’t you shop about and see if you can get a similar cover elsewhere cheaper?
    That would be a risk, since cover would not be immediate.
  • misscanon
    misscanon Posts: 12 Forumite
    Thank you all.
This discussion has been closed.
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