Critical Illness Insurance

[lizzy1]

Can I claim back critical illness insurance in the same way as payment protection Insurance as regards being miss sold?

Well I think its a critical illness policy. On the policy document it is called Barclays businessloan insurance and in the schedule it states your businessloan insurance disability critical illness and life benefit?

Hope someone can help?

Lizzy

[enaid]

Re: Critical Illness Insurance

Hello lizzy1 and welcome to beagles.
To answer your question I think you will need to read the T&C's of the actually policy, if it is a Critical Illness Insurance then I think they will only pay out if you are diagnosed with certain illnesses and or you become disabled, but I should imagine they will be very strict on the payout, but that is only my opinion.
A different policy than PPI all together.
Enaid x

[lizzy1]

Re: Critical Illness Insurance

Have checked the t&c and it does cover critical illnes so my next question is are these policies treated the same as payment proctect insurance when putting a claim in for being miss sold?

Lizzy

[enaid]

Re: Critical Illness Insurance

What reason are you saying it was mis sold?

[lizzy1]

Re: Critical Illness Insurance

A number of reasons firstly I wasn't told I could use another company to provide this cover. Secondly the best policy for me would have been income protection which isn't covered with my policy.

So I believe it was poor advice.

Lizzy

[enaid]

Re: Critical Illness Insurance

Well in that case I can't see any reason why you should not go for it being mis sold.
Have you tried to cancel the policy at all?

If you decide to claim there are template letters in the PPI forum you could use, just amend them to suit your situation.
Enaid x

[nelliewops]

Re: Critical Illness Insurance

Hi Lizzy

I have put in a mis-selling claim for a similar product for very similar reasons to your own - mine was a Scottish Widows policy and was specifically for business cover yet I didn't even have a business. Being very financially naive at the time I just did what I was told by the bank and thought they knew what was best. At the time they made no mention of it being business cover

My claim was rejected by the bank but is now with the FOS - I would definitely pursue this as I firmly believe in many cases the banks sold any old product to you if they could just to meet their targets, regardless of whether these policies were suitable or not.

Good luck and let us know how you get on!

Nellie x

[di30]

Re: Critical Illness Insurance

Hi Nellie

Hope your well.

How did you get on with this after?
Is it still with the FOS?

Like yourself we were sold a number of polices from Lloyds, via Scottish Widows for 9 years, then we fell into difficulties and cancelled them.

But like yourself was always told its best to have these policies, will not get them any cheaper than your own bank and much more.

Xxx