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Stonebridge Insurance Accidental Death Plan through the Alliance & Leicester

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I took out this plan in 2001 and I am not sure how I was sold it. It must have been when I took out a current account with the Alliance & Leicester. It was free for the first 2 months. It was only whilst I was speaking to a friend that pays £2 a month (and has been for a similar length of time) that got me thinking that my original outlay of £8.59 was very hefty and this has been creeping up steadily until the most recent increase to £10.10. I can see on here that Stonebridge was pulled for miss selling at one point but not for the year I was sold this insurance. Would anyone know anything about these plans through the Alliance & Leicester?

Comments

  • MorningcoffeeIV
    MorningcoffeeIV Posts: 1,945 Forumite
    1,000 Posts First Anniversary Name Dropper
    edited 10 March 2023 at 7:21AM
    Accidental death isn't normally the most useful of policies, despite being low cost.

    If I were you, I would cancel it and consider what cover you really need.
  • dunstonh
    dunstonh Posts: 119,697 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I can see on here that Stonebridge was pulled for miss selling at one point but not for the year I was sold this insurance.
    That is irrelevant unless a stonebridge agent sold it to you.    The provider is not liable for sales made through third parties.

    Would anyone know anything about these plans through the Alliance & Leicester?
    Most of the banks were selling this type of plan in the mid 90s to early 2000s.   They are pretty rubbish most of the time.  


    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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