Which takes Priority - Key Facts or Policy Terms?

Raggie

I wonder if someone in the know could let me know, when purchasing an insurance policy, if a key facts document is issued, and this contradicts the terms and conditions of policy as issued, which one takes priority?

I hope its the T&C's.. ???

Quentin

Ts + Cs are binding on both sides.

Raggie

thanks Quentin, now on to deal with the amiquious wording of their T&C's... this is going to be a good fight!!!..

dunstonh

terms and conditions take priority. The key facts assumes clean underwriting. The t&cs can have amendments added to them based on an underwriting decision made at point of sale. i.e. an exclusion added.

Also, the key facts is issued at point of sale but amendments made over the life of the policy may take place which you are informed about at renewal (assuming a renewable general insurance here).

Raggie

dunstonh wrote: »

The t&cs can have amendments added to them based on an underwriting decision made at point of sale. i.e. an exclusion added.

Thanks...

I have this the other way.. the Key Facts is more specific than the T&C's.

Reading the T&C's these condradict themselves in vairous sections, and are non-specific regarding my area of the claim.

However the Keyfacts is more detailed and implies (only implies) that my circumstances would not be covered.

It does not help that the person selling me the insurance told me at the time of sale and subsequent to my claim being rejected that the insurance company was wrong and I was covered for this event.. !!!

But reading and re-reading the T&C's I think I am covered for the claim based upon their own wording.. !! I assume this is why the agent thought I was covered..

To put the icing on the cake so to speak if the insuance company are right and the agent wrong (ie I am not covered) then the insuance was not suitable for my needs.. and FSO here I come.. !!!!

All this and it's only Monday!!!...:cool:

dunstonh

It does not help that the person selling me the insurance told me at the time of sale and subsequent to my claim being rejected that the insurance company was wrong and I was covered for this event.. !!!

So, your complaint is against the adviser not the company.

But reading and re-reading the T&C's I think I am covered for the claim based upon their own wording.. !! I assume this is why the agent thought I was covered..

Which would put your complaint against the company

I think you have to pursue the complaint against the company first because you have read the documentation the same way the agent has and have drawn the same conclusion.

Raggie

dunstonh wrote: »

I think you have to pursue the complaint against the company first because you have read the documentation the same way the agent has and have drawn the same conclusion.

I am for now.. I have left it in the company's hands to see how they can resolve this.. i did however point out to the company that should they find I am not covered and the agent selling me the cover was incorrect about the operation of the policy then the question will need to be addressed if I was miss-sold the policy, and should it be required I would not hesitate in involving the FSO..