Life Insurance from 80's

rqy99g

Hi

I was sold a life insurance policy in 1982 and was advised that it would likely return around £65k.

It matured at the of October and was less than 1/3 of what I was verbally advised.

Was I mis-sold? Is there any recourse if I was?

Regards

Simon

societys_child

You have to be having a laugh Simon..

brettcta

Hi,

I recently bought a thermos flask and was verbally told that it keeps hot items hot and cold items cold.

I used it for work today and was horrified to find the coffee had melted my choc ice.

Was I mis-sold? Is there any recourse if I was?

Regards

Salmon

SonOf

Was I mis-sold

No

Is there any recourse if I was?

no

I was sold a life insurance policy in 1982 and was advised that it would likely return around £65k.

life policies in the 80s paid out much more than they do today. Mainaly as there used to be life assurance premium relief (LAPR). That was reduced in time as the focus moved to pensions instead. Plus, inflation was much higher in the past and that pushed gross returns up. Net returns (after inflation) are not a lot different.

Had the economy continued as it did in the 70s and 80s you probably would have got £65k. However, it would probably have less spending power than your circa £32k has.

rqy99g

Just asking.... one can only live in hope: )

[Deleted User]

rqy99g wrote: »

Just asking.... one can only live in hope:)

While this is true, you really should not be looking to make spurious mis-selling complaints. Not every insurance was PPI and not even all PPI was mis-sold.