Claiming money paid for insurance policies sold by banks on behalf of insurance companies

monte_net

Hi folks

I have tried to find the answer to my query before posting, but without success.

I have a number of insurance policies which were sold to me by banks. These insurance policies have been administered by insurance companies.

Having read about mis-selling quite a bit I strongly believe these insurance policies were mis-sold to me. I never needed them and even when I tried to query about them with the intention of cancelling them the insurance companies would not even provide me with the most basic information such as what these policies were / are covering and when they could pay out.

I would like to claim my money back, but I do not know (i) against whom I should make the claim (banks or insurance companies) and (ii) how to classify such claims (PPI, packaged accounts, insurance) when using the resolver.

I would really appreciate your help / advice with the above.

Many thanks in advance.

NCC-1701

It's getting more and more ridiculous day by day, roll on three weeks from now. Although I do suspect it will not end then for some.

Nearlyold

Insurance policies are usually administered by Insurance Companies.

If it's the bank(s) that sold you the policies that you believe were missold to you then it's the bank(s) you should direct your complaint to.

How were these policies sold to you - mailshot, face to face, on-line and why did you agree to take them out if you didn't know what they were for and or never needed them?

Don't use Resolver just send your complaint direct to the bank

You must have received documentation/booklets when these policies were taken out.

I find very it surprising that, when you rang the insurance company and provided them with the title of the policy and the policy number they were unable to tell you what the policies were for, can you provide any of the names of the policies

SonOf

I would like to claim my money back, but I do not know (i) against whom I should make the claim (banks or insurance companies) and (ii) how to classify such claims (PPI, packaged accounts, insurance) when using the resolver.

You complain to the seller. i.e. the bank.
It is not PPI or packaged bank accounts.

I would really appreciate your help / advice with the above.

What types of insurance are these and why do you think they were missold?

Keep_pedalling

For goodness sake, you take out insurance to cover the possibility you might die or fall ill, just because neither of those things happened does not make the polices

[Deleted User]

Keep_pedalling wrote: »

For goodness sake, you take out insurance to cover the possibility you might die or fall ill, just because neither of those things happened does not make the polices

...somehow reclaimable.
Finished that for you

While it's perfectly possible to complain about any insurance all, it's important for the OP to realise that not every insurance was PPI and not even all PPI was mis-sold.

It seems to be a common misconception that the PPI mis-selling scandal includes any and all insurance ever sold by financial institutions. Hence there are threads devoted to Mortgage Indemnity Guarantee (MIG), Life Insurance/Assurance, Income Protection and even GAP insurance.

It's also a symptom of the free-for-all encouraged by the FCA adverts on television.

I'm not trying to say people genuinely mis-sold should not be refunded/redressed, I was a beneficiary of a large PPI refund myself after all. But using a scattershot approach to complaints where any kind of insurance is fair game is beyond the pale.

Well over 50% of PPI "complaints" received are from people who never purchased a PPI policy.