Life Insurance

Over_the_Rainbow_2

Apologies if this has already been asked...basically a friend who is single (aged 29), no dependants has been paying life insurance for 2.5 years when she bought her 1st house. She is looking to cancel this as it is of no benefit to her.
1) Can she get a refund of her premiums?
2) Does she have a case for mis-selling?

Thanks muchly
OTR

dunstonh

1) Can she get a refund of her premiums?
2) Does she have a case for mis-selling?

Was she sold it under recommendation or did she buy it off her own back?

If there is no financial need and she was sold it under recommendation and the mortgage she bought did not insist on there being life cover (most dont nowadays although historically they did and a minority still do) then she could put a complaint in for there is no need.

If the life cover includes critical illness cover then she may not have a case because the cost difference between standalone critical illness and combined life and CI is not that great and over a 25-40 year period of a mortgage it can save a lot of money in the long run.

Over_the_Rainbow_2

Thanks dunstonh :T she was recommended it when she took out her mortgage. I will forward this to her so she can check the details!

OTR