they could not explain to me why someone who has only had a mortgage for 3 months gets a shorter waiting period? no one has been able to explain this to me?
also i asked my bank where we got our mortgage and they will not offer it to us now. they said it would have to have been taken out at the time of our mortgage so we can only seem to get quotes from these online agencies. have you not experienced this?
I am also looking into this as a safety backup but please read all details of policies carefully before choosing one.
i rang and it sounded ok until they said that if you have had your mortgage for more than 3 months then there is a 6 MONTH WAITING PERIOD for any benefits in case of redundancy. a few months seems reasonable as they have to make sure people are not trying to screw them but 6 months is excessive and they could not explain to me why someone who has only had a mortgage for 3 months gets a shorter waiting period? no one has been able to explain this to me? surely as someone paying a mortgage on time every month for 1 year i should certainly not be a worse candidate in any way?
also i asked my bank where we got our mortgage and they will not offer it to us now. they said it would have to have been taken out at the time of our mortgage so we can only seem to get quotes from these online agencies. have you not experienced this?
I believe you are saying buy today and if it does not work out you can get compensated to-morrow.Funny how with all the regulation, all the experience of other countries we have to make the same mistakes. Even when alarm bells were ringing you could still go out and purchase one of these products and because you did you can utilise the safety net called compensation.
Regulation / compliance is costing firms a small fortune yet if you really want to be crooked just go ahead, you'll probably get away with it.
In the world of Finance what is going on today that we could be a part of and get compensated tomorrow.
Indeed I hear you; but in life we all have to trust someone and one of these en- {trusted} were Banks. They are {regulated?}by Central Bank and {watched?} over by Ombudsman.JInsurance is like mothers and apple pie, sounds good , speaks of safety and comfort.(That NICE bank man knows better than me }!!!But..... the scandal was uncovered in 2008/ 09 and was well aired in the media with copious and repeated warnings. Yet, between 2008 and 2011 after the warnings had been issued still more than 300,000 people still bought the product!
As a population we are constantly demonstrating unsophisticated naivety and financial illiteracy but this can be improved with education and needs to start early in life.
.............................................................................................................but i thought consumers always distrusted banks and financial services more than any other industry? With that in mind it is not credible that holders of 300,000 policies suddenly became devoid of personal responsibility and judgement and put their hand into the fire where they remained for some years waiting for someone to tell them to move it.
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But we {stupidly} did trust banks & worse still we trusted our regulators/ombudsmen to keep an eye on the banks !!!
How do you think pensioners share holdings got wiped out.
Do you not remember our (esteemed)(trusted) (leaders) (regulators) assuring us our money was safe as banks !!!
Shouldn,t be credible ,etc etc , but it happened to a lot of good people.... The ppi was but another manifestation, except it was perpetrated on the (little) people.
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