Life Insurance/Critical cover etc...I think I need help!

Retired_I.F.A.

If this adviser is posing as an IFA when merely a tied agent one phone call to L&G's compliance officer shopping her should if the compliance officer is any good see her suspended in 10 minuites as all he'd need to do is pose as a potential customer and phone her and ask if she is an IFA. if she says yes she is history.

As to the fee you said

"for both me and my girlfriend its costing us roughly £100 a month!"

Dunstonh then said,

With that premium they would have been paid around £2600 up front. There is a four year claw back period and clawbacks are pro-rata. So, £2600 divided by four means that they have been paid about £666 so far.

Make that £333 because unless commission rates have doubled since i retired he's worked on 100p/m each.

Lookin at your summary of the fee agreement it appears that the fee is £495 payable because you have terminated the policies before 48 months of them being paid has expired, but reduced "by 1/48th for each monthly premium payment made by the Client under the terms of the Protection Insurance"
So if this fee agreement is legal you owe them £374(assuming 12 premiums have been paid) yet they have earned £333 so really you at most owe £162 Yet they are saying you owe them £495. However you mention nothing about the introductory commission they recieved from the lender if any. Was there such commission ? and if so was it disclosed? and a part of your fee agreement?

Dunstonh will tell you if lenders commission 12 months ago had to be disclosed or not I'm not 100% sure but I think it was a legal requirement.Mortgages were not regulated when I retired 6 years ago thus I'm not sure.

Again personally I would simply ignore them or tell them to get stuffed. but
if you wont then you could try this...

Tell the Estate agent under the fee agreement there is a remote possability you owe them £162 at most but suggest they waive it in writing within say 5 days. Failure to do so will lead you to completing the FOS complaint forms you have and submitting them which will lead to an investigation costing them £400.

You'll have the fee waiver in writing the following day I bet.

Then when you've got that get yer missus to complete the FOS complaint. You've stuck to your bargain but she hasnt made one