Ive just got my annual plan summary for my Life Insurance and noticed both me and my partner are paying PPI tho i dont remember asking for it or being offered it, as it only pays out after 26weeks hardly seems worth having. Can i reclaim this back and if so how do i go about it?

Many thanks

Hi Haven

If you've been Mis-sold PPI then you can claim it back, here a guide:- http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

thanks

Theres lots of info in our stickies in this forum.

skittish widows will wriggle like hell

and you'll prob get the run around that it was the lloyds or C&G rep that did it and they are not responsible

they will quote that you agreed to it in your 'recommendatios' statement.

go get 'em

the mortgage reps i'm sure get a hidden commission for selling this

when i did mine earlier on it the year

i was bombarded with phonecalls from my mortgage asdvisor from her private phone

trying to convince me I DID ask for it.

i did NOT and it got sneaked through.

look at the 1st page wording on your per sum and our recs & app dets

then i bet its not mentioned there

but i bet you'll find it on pages 2/3 were it says:

its WAS discussed with you & is included

doesn't say ANYWHERE you WANTED IT

just you discussed it.

go get em

dx

dx

i don't like that link

its very circumspect leaving lots of well maybe's flying around.

dx

I really dont remember asking for it or agreeing to it, ppi is something i never agree too as i dont beleive in it, it doesnt kick in for 26weeks so hardly seems worth waiting 6months for them to pay just over £20 a month. This is the problem, the women i spoke to about remortgageing works for lloyds but my mortgage is with c and g and the insurance is with widows so as far as im concerned they are who is taking the money each month.

How long have you had this policy ?

Scottish Widows were ordered to pay millions last year for irregularities,and other issues to customers spanning quite some years.

How was the policy taken out originally ?

The first thing you need to do is calculate how much you have already paid.

Then make a preliminary request in writing for it to be refunded.

What is it exactly that you are unsure of at this point ?

The policy is about 2 yrs old now.

The policy was taken out when i remortgaged in 2009 and was offered life insurance

It works out at just over a £1 each month for both me and my partners policy

Just dont know where to start to claim it back, spent ages scanning thru posts, is there a template letter to send do i need to find the terms and conditions?

Ok understand.

Right,first of all you need to establish why you think it was missold or is not of any benefit.

PPI Insurance differs greatly from one policy to another,that is to say that there is no template letter as such for a one fits all use,the letter needs to be specific to what you believe was unfair/that the PPI was no use or benefit to you.

Yes it is a good idea to have the terms and conditions,although most are easily found on the internet.

Its also a very good idea to look around and see which terms and criteria that others have used to claim back PPI in the case of Scottish Widows-I am sure there is no shortage-I will see if I can point you to any CAG cases.

So the process is as follows;

1.Identify a case for refund.

2.Make a preliminary request in writing.

The focus on PPI and investigations/guidance from the regulators I think began to really start around 2008.

Many Financial Institutions dragged their feet,which led to the regulators ordering them to deal with claimants.

In many cases refunds were made relatively quickly and in some cases they were ordered to make refunds.

But I think as things went on-some policy wording was changed as they became aware of the claims implications.It was only in 2010 however,that the Industry finally agreed to make positive changes,faced with the threats friom the regulators and new guidance.

Some of the main points which have led to refunds include;

1.Applicant was not given alternative options which may have cost less or offered better packages.

2.Applicant was led to believe that without taking the PPI they would not get the loan/insurance

3.The benefits of the policy were unsuitable (Example-the policyholder was self employed)

I will see if can find some cases and post here.

Read here also;

http://www.independent.co.uk/money/insurance/banks-put-ppi-claims-on-ice-2121121.html

Here is an example of typical reasons to seek a refund.

This is a case which was referred to the FOS and upheld in the applicants favour.

http://www.financial-ombudsman.org.uk/publications/technical_notes/omb-decision-B.pdf

Thank you so much martin i will have a good read thru them laters and see if anything applies, thank you for taking your time to find this information for me