RBS - PPi and life insurance on same claim?

[dx100uk]

rather see letters than your interpretation please 

[dx100uk]

why have RBS refunded all the other stuff if thats in the same boat ...outside of 6yrs????

 

i believe you also said earlier that this is now paid to aviva? so ....its still active

 

timing runs from when you became aware you could reclaim...its obv you didnt know this in 2003when it was sold to you , nor until very recently.

[dx100uk]

short and curt...

 

dx

[dx100uk]

On 10/02/2021 at 14:44, NGEddie said:

When looking into complaints, I am guided by the rules from our Regulators, the Financial Conduct Authority. These rules are known as the Dispute Resolution rules, or DISP rules. These rules place a responsibility on customers to raise any complaint or concerns within a reasonable period of time; a complaint should be raised within six years of when the advice was provided or, if later, within three years from when a customer first became aware (or should have reasonably become aware) that they had cause to complain.

 

if the above were true and is the stance of your bank, bearing in mind ALL other policies, including this xxxx policy, which is our mutual  concern today and were all on the same initial original complaint letter,  why have they all been accepted as mis sold and have already been refunded ? Why suddenly is this time policy only relevant to this part of my complain?

[dx100uk]

I thank you for your letter dated xxxx, it's contents are duly noted.

 

then as above

[dx100uk]

saves postage

 

[dx100uk]

On 03/11/2020 at 13:56, NGEddie said:

Hi HB

 

Sure, I recall being told I had to have the decreasing term life assurance alongside the mortgage which started in 2003 and this was by an advisor in the branch.

 

I submitted the PPi claim in 2019 in time which covered a loan ppi, mortgage ppi and this decreasing term life assurance. I referred to them all together as 'ppi and associated insurances' on advice.

 

They have admitted to miss-selling the loan in 1998, the mortgage ppi in 1999 but are saying there is a separate decreasing term life assurance team who I now need to make the complaint to which is where I am a little concerned?

 

Hope this helps.

 

E!

 

Anyone advice please?

 

Really not sure how to reply as feels like they are trying to separate the ppi and life assurance by pushing me to the other department. The whole thing with this was to group them together 

 

expand on the above, not got time to scan further back, but are you indicating that the reason for  this life protection was a loan that has since been deemed mis-sold by the original creditor?

 

[dx100uk]

read the letter in post 23 here 

Payplan - Cover My Life & Cover My Payments - Debt Management Plan Companies - Consumer Action Group

it explains how the 3/6yrs works straight from the ombudsman's mouth.

 

 

[dx100uk]

try now

[dx100uk]

i don't think the matter of you were told the Decreasing Term Assurance was compulsory makes any difference, it doesn't detract from the fact the FOS appear to agree that disp does apply and you are out of time .

 

i don't think there is any harm going to the FOS with it..BUT

although, and this twigged my memory about DISP ( which didn't exist then) but the ABI code did, and i believe that doesn't cover your situation, i'e , the fact it was made compulsory is not against any guidelines that were around at the time.

 

you could drill down on the ABI coding and see what it advised about lenders making DTA compulsory, but sure as eggs is eggs, by 2005, when disp had arrived..all lenders were forced or had stopped long before making any type of life cover compulsory. so they knew their mis-selling of such was on the cards

 

Critical illness cover (financial-ombudsman.org.uk)

 

[dx100uk]

there is no link between the 3 and 6yrs limits.

they are sep entities 

 

you are being told under the 3yrs disp rule that you are out of time, the FOS seem to concur - re that other threads letter, however that rules might not apply if you have exceptional circumstances.

 

i am wondering if to date the lack of ref to the ABI code of conduct, if it applied in your case, fits the exceptional circumstances criteria.

 

you need to go look at the ABI code of conduct. i'e it should not have been made compulsory, i don't believe the other code DISC was in force till 2005

 

AFAIK ABI covers aLL INSURANCE PRODUCTS NOT JUST ppi....MIGHT BE A ROUTE?

 

 

ppi GISC + ABI code info case omb-decision-C.pdf

[dx100uk]

the mortgage it protects is still active is it not?
 

[dx100uk]

you mean you paid the mortgage off that the policy protected and financed it with another policy from elsewhere...???

so why have you been paying for life insurance on a mortgage that has not existed since 2009?

 

surely the policy was to protect the mortgage is was taken out for and no longer has any benefit whatsoever to you and no-one will get anything out of it should you die?

 

what does it state it protects and who gets what ?

[dx100uk]

what does the policy actually do?

if you died tomorrow what would happen ?

what payouts would goto who about what?

why don't you directly ask aviva?

[dx100uk]

oh well only 4yrs to go.

what a con from day one...

 

HB this policy was sold together with various PPI products upon taking out an RBS Mortage in 2003, everything else they agreed was mis sold and has been refunded in full.

 

but because they say this is not PPI so is not covered by the changes in DISP waving the 6yrs rule toward anything PPI, reclaiming this is out of time, and to boot the mortgage it was taken out with was fully paid off in 2009...

[dx100uk]

Not reclaiming wise no.

But for the sake of £xxpcm till its term ends you have life or poss critical illness/injury cover still worth £1000's if anything happens.

Imho its not worth stopping now as i bet there is no cash in nor cover once you cease payment

 

Dx

[dx100uk]

open

 

 

[dx100uk]

54 minutes ago, NGEddie said:

However, I haven’t been able to find anything that would lead me to

believe that you were told this plan was compulsory in 2003.

 

other than the advisor getting a healthy commission back hander for selling it....