Still waiting on any communication from Direct Line in relation to the voucher offer.. Been nearly 2 months now! Anyone else? In contrast, L&G offered a choice 3 weeks after the policy went live ready to pay out in 3 months time.
It is correct, I literally sell this insurance as my day job. Some companies ask you to declare if you've been refused, others ask if you've ever had a policy cancelled by an insurer. No longer paying and leaving it up to the insurer to cancel is, by definition, having a policy cancelled by an insurer. If you just stop the direct debit leading to a cancellation, you'll no longer be allowed installments on any Direct Line policy (or any sister companies such as Churchill or Privilege for example) for 5 years. Do it twice and you'll be blacklisted. Other companies may also refuse you if they ask the same question or may offer increased premiums instead. And missed payments also affect your credit rating. Why would anyone do this just to avoid having to phone up to cancel it properly?
Yes but if you miss payment eventually the policy will be cancelled with no value
I don't that's correct. My understanding is you need to declare if you have been refused insurance. Once DD has been cancelled they will normally send you a few letters. If don't receive any letter last letter will just say your policy has lapsed has not value. That's end of it. They are not refusing the policy. We are not continuing with the policy by not paying the monthly premuim.
I wonder which other group will be turned down? its a long form that needs to be filled up.