Mis-sold Income Protection Insurance
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AnotherJoe wrote: »I would sue them via MCOL, since returning the premium doesn't put you in the position they said they would so its wholly inadequate.
The rules are that you need to be put back in to the position you would have been had the mistake not happened.
If the mistake would not have happened you would have still had those premiums in your bank account.
If there was a policy that did what you wanted, you could probably argue that they pay you the £1500 a month (whether you would get it is another matter) but there is not a policy like that (as far as I am aware) and if there was, I am pretty confident it would cost a lot more than you are paying for an income protection policy.I am a Mortgage AdviserYou 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 -
I have a new business idea. Gonna sell cheap insurance. Whenever anyone tries to claim, I'll discover a mistake, apologise profusely and refund everything they've paid. I keep the money from those who don't claim. Winner.0
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