Refund of contributions

[Paddy45]

I took out a 3in 1(life/sickness/pension) insurance policy some years ago when I held a temporary position. I took up a permanent position within a semi state organisation and continued paying my premiums every month. I have never claimed tax relief on this policy.
When I went to enquire about the pension aspect of my policy I was told that because I was permanent and paid superannuation I shouldn’t have had any other pension. As this was a 3in 1 policy the whole policy was therefore null and void. The company have said that I am entitled to a refund to the premiums that I paid on the pension aspect of it only and not any of the other premiums. They have stated that should I have had a claim on the sickness or the life part they would have paid out. I find this hard to believe.
My question is: 1)If I am entitled to a refund of part of my policy, surely am I not entitled to a refund of all the premiums?

 

[Homer]

Hi Paddy

I don't think they're being unreasonable. The life and sickness part was an insurance premium, while the pension part was savings. They are refunding the savings element.

If you have a motor insurance policy and don't have any claims during the year, you're not entitled to a refund of the premiums you paid. The same principle applies here.