Accident plan mis-sold as Life Insurance!

Aabee2023

My Husband was sold Life Insurance in or around November 1999, via his Bank through Stonebridge Intl. Guess it was over a phone call, whilst he was at work. He was given the impression that it will be provide peace of mind and financial security to our 2 Daughters in case something were to happen as he was a sole earner at that time. He was taken ill with Mental condition 6months later.

The payments were taken out successfully throughout this time.
Unfortunately, he suddenly passed away recently and when I rang the Insurance company, I was shocked when they told me if was an Accident Death Plan, not a Life insurance and would only cover if he died in an transport accident.

I honestly do not know what to do or think as I’m left with Financial worry, especially in this grieving time! 

Any helpful advice will be very much appreciated! 
Many Thanks!

MorningcoffeeIV

If he bought an accidental death policy, then it would only provide cover in the event of accidental death, not other causes.

The policy will state what kind it was. What does it say?  It's possible, though highly unlikely, that the advisor made an error  when they said it was accidental death.

retiredbanker1

More importantly what does the policy document say?

Sorry for your loss.

Aabee2023

Accident Death plan

DullGreyGuy

Aabee2023 said:

My Husband was sold Life Insurance in or around November 1999, via his Bank through Stonebridge Intl. Guess it was over a phone call, whilst he was at work. He was given the impression that it will be provide peace of mind and financial security to our 2 Daughters in case something were to happen as he was a sole earner at that time. He was taken ill with Mental condition 6months later.

Sorry for your loss

If you cannot even remember how it was sold how can you be sure it was miss sold? Is it not just as possible that it was described as an accidental death policy and either he misunderstood what that meant or simplied things to you by calling it a life policy? You don't say how old he was when he bought it but I would imagine many youngish men would consider accident the most likely cause of death for them in the short to mid term.

Regulation was very different back in 1999 than it is today, did neither of you read the policy when it arrived? The wording would have been fairly clear that it has a limited cause of death cover. Why didn't you query it then? Or did he read it and not query it because it was inline with what he understood?