Me Vs Amex

[Wildheart]

hi

in September Amex phoned me, offering me PPI. they mentioned that they will repay 2 months payments if a "life event" was to happen. i mentioned that my wife was pregnant and this was a viable option. i took the insurance out there and then. i put in the claim last month and was told my claim was not valid. it transpires that if the baby was born within 90 days of taking the policy out, it was not valid. this was not explained to me when the premium was taken out. i complained to Amex, they re played the phone message and acknowledged it was their error. the first compensation package was to re fund the premiums..valued at £500. i declined this and today they said they would honour the agreement and pay 2 months re payments. i am still not happy because had i not complained, no action would have been taken. i for one want to punish Amex and sue them for mis selling. as i have received admision from them that it was their error and they admit they missold the policy, do i have a case to Sue or shoule i just take the 2nd compensation package offered today?

many thanks for your help

[Amy]

Re: Me Vs Amex

What would you sue them for?

They have returned your payments (as you requested) and now they have agreed to honour the agreement and repay 2 months to you (as you requested).

Have you asked them for anything else?

[Wildheart]

Re: Me Vs Amex

hi

when i took the policy out, i told them that i intended to claim when my son was born, which was in 2 months from the date. i then had to draw up a budget for my family as my wife was on maturnity leave for 12 months, meaning we were down to one income. when the claim was rejected it caused financial problems for my family and un told stress. i wondered if i could sue becaues a) they knowingly sold the policy to me, aware that i would claim before 90 days (they have this on tape) and 2, if i was to sell an insurance product in this way, it would be deened as insurance fraud. basicaly i am not happy to be treated in this manner by financial institutions any more and i want to make a stand and show that they can't really lie to people.

still, i see your point but i just feel they should be taught a lesson. if they do either of the compensation packages they outlined, they are not being taught anything and are not being puniched for the blatent miss selling.

cheers

[Paule]

Re: Me Vs Amex

Can you give us an idea of timelines and what you sent to them and what they sent to you in response, if you can scan and post up that would be good

Depending on what you have asked for and what they have said, you may be able to go to the FOS, but all dependant on the correspondance betwen you and AMex

[WendyB]

Re: Me Vs Amex

How much were the monthly premiums, and how many of them had you actually paid? Had they added them all onto your balance or was PPi being added on monthly depending on the balance? Because if not, then I would say £500 is quite generous of them. And by 2 months payment do you mean your minimum payment or the whole balance for 2 months/ sorry, i just can't quite get my head round this.