Talk to the Financial Ombudsman Service, and make a complaint.(posted 7273 days ago)To do this you must request a deadlock letter from your mortgage protection insurer. State to your mortgage company, and the mortgage protection insurance company, that you intend to fight this with a complaint to the FOS. Demand that they place matters on hold while this complaint to the FOS is dealt with.
The bad news; Most of the complaints to the FOS regarding mortgage protection policies fail. My dad was told by the manager at his local job centre when he claimed against his mortgage protection policy that only a "very small number" of mortgage protection claims result in anything being paid. (a figure of less than 5% was suggested)
My dad says that anybody, everybody, with a mortgage protection policy should have a little chat with their local benefits office about the value of mortgage protection policies.
If you can afford it, keep paying the policy. It is a condition of most policies that you have to still keep paying the policy when you make a claim. If you stop paying, they cancel the policy, and even if your complaint to the FOS is upheld, they then state that as you cancelled the policy nothing is due anyway. It might be worth making the payments, and stating that you expect a full refund of the payments if your FOS complaint is not upheld.
Good Luck says my dad. Mortgage protection policies are a rip off.
Zena