HI

I have been paying life insurance for both my husband and I for the past 10 years at a very hefty premium !

However today I recieve a letter telling me that I have missed my Septembers payment and they are not willing to continue my insurance without signing a declaration ??

This is of extreme concern for me as my health has deterioated since first set up ! So this was always ! a priority payment for me I always pay it never forget !

So I panicked and telephoned the bank straight away to ask for the copy of the cheque payment which was no problem they had a copy of both the front and back of the cheque stating the account number - So I felt relieved -

But then I thought I would check the payment that was to be made in October - As I was going on holiday I set up a payment to leave my account on the 4th October - However when I checked back through the statement the payment was not showing

I don't know how but the instruction was not listed - so I made the payment immediately - however this is 30 days late .

I am soooooooooooo worried now, can they cancel this ? It was a bank error not mine ! The letter recieved from insurer states Septembers payment had not been recieved when indeed it was October's payment that was delayed due to bank error.

What should I do What can I do ? This seems so unfair ! If the payment had not been recieved surely I should have recieved a reminder not like I have ever missed a payment before.

This was always the most important bill for me because if I kick the preverbial bucket I know my husband and children will be ok -

Help me Pleaaaaaaaaase

One Very Stressed Woman

Hello there. I hope we can help you. Can you tell us what kind of life assurance you have please? I don't mean the name of the company if you don't want to give it, but the generic name of the policy. Most life assurances wouldn't cancel the policy because of a one month slip up, as far as I know.

What sort of declaration do they want you to sign?

Don't worry for now, just post more information when you can.

My best, HB

Honey Bee

It's an adaptable Term Plan. This Letter says quite clearly payment was not recieved for the 1st of September which I can prove was paid ! The say as a result we are no longer providing life assurance protection - However I think they must be refering to the October payment which as I said was paid Late due to bank error.

It's a Declaration of Health it asks me

1. To confirm there has been no change in my health and I have not attended doctors or hospital

2. There has been no change in our circumstances concerning my occupation hazardous pursuits or prospect of foriegn residence

3 I have not applied to another insurqnce company for life insurance critical illness or sickness insurance

4 exceptions above if any provide full details

No 2 & 4 no problem 1. obviously there have been changes 3. I did apply 2003/2004 for separate insurance to cover me but was refused (oops)

This was the only important bill for me and my bankers seem to have put me in it !

I really don't want to have to answer these questions - Insurance on first death only !

Hope someone can let me know where I stand not planning on popping my clogs yet but need to be assured God forbid that my family have something

OSW

pers i'd put A in contact with C leaving you out the loop

its for them to resolve it, not you

you did all you could

dx

I agree with that. I certainly wouldn't back down if it's not your fault. Please let us know how you get on and defo come back if you have any other problems.

Don't worry.

HB x

They are querying the 1st September payment so respond according to that "missed" payment and do not even mention the October payment at this time. That way you are telling the truth and not telling porkies.

Surfer 01

I was thinking the same I have a friend who is a broker so will phone in the morning for another opinion.

If I phone them then they will call up account on screen and therfore may be able to see Oct's delay so was thinking of writting to them and sending it recorded delivery with this months cheque ??

What do you reckon - still think it's extremely unreasonable action on their behalf - especially as I have never missed a payment and have paid £15k into this it's like washing the money down the drain !

Haven't a clue what I will do if this goes pear shaped -

Anyone know if there are any legal guidelines they have to follow maybe a call to FSA may give me more insight ?

Thanks Folkes anymore input welcome

Hi Onestressed

Best thing to do is clam down, your not at fault. The assurance company has been happy to take your money, so theres no reason to think they will suddenly want to stop taking your money. This is a useful link:- http://www.abi.org.uk/Information/Consumers/Consumer_Information.aspx

Its got stuff about codes etc.

Rebel 11

I know calming down would be an idea easier said than done though panic about everything nowadays wish I didn't

They have made it clear that they will continue to take our money ! but they can I believe exclude my cover due to change in health.

Thanks for link to site might just phone them tomorrow with limited details and ask their opinion

Never rains but it pours in my house

x