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missold life insurance

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Hi, i have a question regarding missold life insurance. In my early 20's I took a loan out from a bank to repay my overdraft and was told by the bank clerk I had to take a life insurance in case I die… Read More
LillyM Avatar
7m, 1w agoPosted 7 months, 1 week ago
Hi, i have a question regarding missold life insurance. In my early 20's I took a loan out from a bank to repay my overdraft and was told by the bank clerk I had to take a life insurance in case I died and lumbered my parents with a debt, obviously I was young, not so clued up and didn't want to burden my parents in case I died, so I signed up. A few years later I was told by a different bank clerk that this was the wrong type of insurance, and should have a health insurance instead, later again was told it was the wrong insurance. In the end I canceled it all together. I'm wondering if here any chance I could claim something back. Also the first clerk was subsequently brides for misconduct ( signing documents instead of customers). I'm thinking of contacting citizen advice bureau too. The first insurance was taken about 16 years ago, i might be too late too late for claiming the whole lot, but do you think i have a chance to recoup something? I did check about missild life insurance whern claimed for my ppi but couldn't find anything about this at the time and it's been bugging me for a while. Thanks for your input!
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LillyM Avatar
7m, 1w agoPosted 7 months, 1 week ago
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#1
Are you winding us up? I can't believe anybody would wait this long or not know anything about ppi.

So either you are winding us up or you are not very intelligent - go search Google.
#2
Not talking about PPI, have done that already, talking about separate life insurance. Think you're being rude insulting my intelligence, when you've not read my post properly....maybe didn't make it clear enough? :)

Edited By: LillyM on Dec 12, 2016 13:12
#3
LillyM
Not talking about PPI, have done that already, talking about separate life insurance. Think you're being rude insulting my intelligence, when you've not read my post properly....maybe didn't make it clear enough? :)
did you sign any forms which explained what you had to pay and what would happen in the event of your death, if so why didn't you simply make a decision about whether you wanted it or not, if you had died would you expect the policy to have paid out? you recvd insurance and paid a premium, whats the problem?
#4
Because I was subsequently told that wasn't the right one for me to have by another bank clerk a few years later, who then put me onto a health insurance as opposed to a life one. Also I was young and trusting, thought the clerk was giving me the best advice. Anyway, I've still got the paperwork so might be able to check details. Will see from that. I've no problem in paying for insurance as long as it's relevant to my circumstances. Thanks for input though
#5
Life insurance something everyone should consider . I think you would have difficulty proving it was missold but good luck . I would be more interested in the health insurance . That sounds incredibly dodgy . I th I k you need to go through all your documentation and find out exactly what you signed up for and when . I find it hard to believe that being advised to cancel a life insurance policy constitutes best advice
#6
I don't know how to quote, but thanks for that psychobitchfromhell (great username by the way) what bugs me most is that the first bank clerk was sacked for fraud... Maybe I should just put that down to experience and lay it to rest, I've got cover from somewhere else now as we've got a mortgage, loan has been repaid long ago. Was just seeing if anyone on here had had experience with claiming refund with a life insurance company, obviously not :)
#7
LillyM
I don't know how to quote, but thanks for that psychobitchfromhell (great username by the way) what bugs me most is that the first bank clerk was sacked for fraud... Maybe I should just put that down to experience and lay it to rest, I've got cover from somewhere else now as we've got a mortgage, loan has been repaid long ago. Was just seeing if anyone on here had had experience with claiming refund with a life insurance company, obviously not :)
I don't think you can claim a refund because it is life insurance and you are clearly alive . You may be able to argue the case that you were told it was obligatory you took it out and that wasn't the case . Given the timescales it might just be one to chalk up to experience and just be thankful that you are still alive . There's a lot to be said for being alive , even on a miserable cold day like this .
#8
I hear what you say :) am now wiser and more careful when signing up to things. Indeed there is a lot to be grateful about being alive :)
Closing the post now, thanks for your replies :)

Edited By: LillyM on Dec 12, 2016 16:49
#9
LillyM
Because I was subsequently told that wasn't the right one for me to have by another bank clerk a few years later, who then put me onto a health insurance as opposed to a life one. Also I was young and trusting, thought the clerk was giving me the best advice. Anyway, I've still got the paperwork so might be able to check details. Will see from that. I've no problem in paying for insurance as long as it's relevant to my circumstances. Thanks for input though
Surely a few years later, the loan would have finished (as it was only to pay just an overdraft)
#10
But as this was not a PPI as such, it carried on, anyway I was trying to find out if someone had been in a similar situation and had tried to claim back on this type of insurance. Put down to experience and laid to rest (thought I had managed to "expire" the thread) :)

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