We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
limited term life insurance
frenchfilly
Posts: 2 Newbie
Hi, we were sold life insurance policies in 2000, a 10 year policy for my husband who was 40 at the time, and a 20 year one for me, i was 38, it wasn't until his ran out in 2010, that we realised how useless this was and perhaps we were talked into a policy that was not suitable for us at the time, do we have any grounds for a claim?
0
Comments
-
Why were they unsuitable? They only pay out if you die.0
-
Young people die all the time. You won't get a refund of Life Insurance just because you didn't suffer a claimable event. This is not PPI.frenchfilly wrote: »it wasn't until his ran out in 2010, that we realised how useless this was0 -
frenchfilly wrote: »Hi, we were sold life insurance policies in 2000, a 10 year policy for my husband who was 40 at the time, and a 20 year one for me, i was 38, it wasn't until his ran out in 2010, that we realised how useless this was and perhaps we were talked into a policy that was not suitable for us at the time, do we have any grounds for a claim?
If your husband is still alive then you have no grounds for a "claim". If you wanted your husband to have continuing life cover you could have applied for another policy. Even if you were to try and cobble together some sort of complaint that the policy only lasted 10 years you would be time barred anyway as you knew 7 years ago the policy had ceased which is well over the three year limit. Please don't spend anymore of your time on this, I'm afraid there will be no compo coming your way.0 -
Did you go for a shorter time period as it was cheaper? Why did you choose to end his earlier - was he more expensive to insure and therefore you wanted to end his when the kids were no longer dependent?
We see it all the time where people only look at the short term and choose a shorter term policy because of cost. They then realise that to get another policy when they are older is insanely expensive but that is the gamble.I am a Mortgage Adviser
You should note that this site doesn't check my status as a Mortgage Adviser, so you need to take my word for it. This signature is here as I follow MSE's Mortgage Adviser Code of Conduct. Any posts on here are for information and discussion purposes only and shouldn't be seen as financial advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.5K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards