will claiming PPI invalidate ongoing mortgage protection cover

tomcorby1

Hello all

I've been considering making a PPI claim for some time but have been put off by a number of concerns

Back story
We bought our house with an Alliance and Leicester. At the time we were forced to take out mortgage protection cover (Cardiff Pinnacle) for sickness and unemployment or we would not have been given the loan. This was for a minimum of 5 years. We were both already covered substantially for sickness pay and would have received substantive redundancy payments via our work contracts at our places of employment.

In 2012 I was diagnosed with cancer and took two periods off work totalling 11.5 months and drew down on the protection offered by the mortgage protection cover. We continue to pay into the cover to this day as my prognosis is uncertain and it is of use to use on that basis.

My question is straightforward (I hope), if we make a PPI claim against the scheme we were forced to take out at that time, will we continue to be covered by it, or will it terminate if my PPI claim is successful.

many thanks

[Deleted User]

tomcorby1 wrote: »

My question is straightforward (I hope), if we make a PPI claim against the scheme we were forced to take out at that time, will we continue to be covered by it, or will it terminate if my PPI claim is successful.

If you make a PPI complaint, the account will certainly be cancelled if you succeed. You are making a complaint that it was unsuitable/mis-sold after all.

In addition, if your complaint is successful any redress will have the amounts you have already claimed on the insurance deducted from it.

So you stand to gain little and (potentially) lose a lot.

NCC-1701

It's going to be difficult to make a valid complaint given it's paid out, continues to provide cover and you want it to continue. What argument can you put forward for continuing to pay for something you complain was mis-sold?

Be careful for what you wish for as you will almost certainly lose cover for your condition

[Deleted User]

NCC-1701 wrote: »

It's going to be difficult to make a valid complaint given it's paid out, continues to provide cover and you want it to continue.

But, but, but, but the OP was forced to take the insurance... :eek:

societys_child

will we continue to be covered by it, or will it terminate if my PPI claim is successful

Yes it'll end, you can't have your cake and eat it . .

antrobus

tomcorby1 wrote: »

....
We bought our house with an Alliance and Leicester. At the time we were forced to take out mortgage protection cover (Cardiff Pinnacle) for sickness and unemployment or we would not have been given the loan. This was for a minimum of 5 years. ...

That sounds like the kind of condition a broker would make, You would have got their services for free in return for the sale commission.

https://forums.moneysavingexpert.com/showpost.php?p=72322965&postcount=4

tomcorby1

It wasn’t we dealt directly with A&L

[Deleted User]

tomcorby1 wrote: »

It wasn’t we dealt directly with A&L

Have you read the rest of this thread?

Your point here is merely incidental to your predicament....

I refer you to post #2

safestored4

So, you appear to wish to submit a claim for mis-selling of PPI, having made a successful claim on the policy and wishing the cover to remain in place, even though you would not, in the event of a successful reclaim be paying anything towards the cover. You win today’s prize for would be opportunistic chancer.

-taff

Your sick pay will not cover the mortgage forever. Redundancy money is not guaranteed.
You can't complain about your cover that it wasn't suitable because it obviously was,because you used it. You can't complain you didn't know about it because you used it.You can't complain it wouldn't have paid out,because it did.
You have no basis for complaint. And yes,it will stop if you complain about it.