[Moved from another thread - Moderator]
Ironically, I've just discovered that around the time that I was commenting on this thread, my life insurer was lapsing my own 19 year old mortgage protection policy. They are also looking for a revised medical history from me, presumably as an opportunity to raise the fee. This policy has been paid for 19 years by direct debit from my Danske Bank account.
For some strange reason, Danske seem to have bounced my Feb 2014 payment for this policy. I've checked the statement and confirmed that I had adequate funds at the time, so I've no idea why it bounched. I guess it was something to do with the Danske closure, but my account didn't shut down until April.
I switched my current account over to PTSB in April, and I noticed the life insurer listed as one of the direct debits on the switching form, so I assumed all was in order. When I noticed that there was no payment in May, I contacted the insurer over the weekend.
I was rather shocked to be informed by them that they lapsed the policy in March. They sent me a copy of the lapse letter which was of course sent to my previous address. It seems to have come as a bit of a surprise to my insurer that people often change address after taking out a mortgage protection policy.
I've gone back to the insurer to ask for more details on any other communications they made to me, to Danske (who hold to mortgage which the policy is assigned to) or to PTSB about the switchover, so I'll see what comes back there. But I am mightily annoyed that they seem to have lapsed a 19 year old policy with a single letter to an address that is almost certain to be outdated.
Ironically, I've just discovered that around the time that I was commenting on this thread, my life insurer was lapsing my own 19 year old mortgage protection policy. They are also looking for a revised medical history from me, presumably as an opportunity to raise the fee. This policy has been paid for 19 years by direct debit from my Danske Bank account.
For some strange reason, Danske seem to have bounced my Feb 2014 payment for this policy. I've checked the statement and confirmed that I had adequate funds at the time, so I've no idea why it bounched. I guess it was something to do with the Danske closure, but my account didn't shut down until April.
I switched my current account over to PTSB in April, and I noticed the life insurer listed as one of the direct debits on the switching form, so I assumed all was in order. When I noticed that there was no payment in May, I contacted the insurer over the weekend.
I was rather shocked to be informed by them that they lapsed the policy in March. They sent me a copy of the lapse letter which was of course sent to my previous address. It seems to have come as a bit of a surprise to my insurer that people often change address after taking out a mortgage protection policy.
I've gone back to the insurer to ask for more details on any other communications they made to me, to Danske (who hold to mortgage which the policy is assigned to) or to PTSB about the switchover, so I'll see what comes back there. But I am mightily annoyed that they seem to have lapsed a 19 year old policy with a single letter to an address that is almost certain to be outdated.