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Mis-sold ISA by Halifax

What is an ISA?

An ISA is the shortened term for an Individual Savings Account. 

ISA’s were introduced in 1999 and have been and continue to be a popular way for people to save and invest their money.

There are many different types of ISA schemes available on the market, including, but not limited to, help to buy for first-time buyers ISA’s, junior cash ISA’s and stocks and shares ISA’s.

ISA’s essentially enable you to save funds tax-free (currently up to £20,000 per year) into a savings account. There are many providers who offer ISA’s, including: –

  • High Street Banks
  • Building Societies
  • National Savings & Investments
  • Asset managers
  • Insurers

Some ISA’s enable you to access cash straight away, when you need it, whilst other ISA plans require you to commit to keeping your savings in the ISA for a specific period of time in order to get the larger interest rate.

You are only allowed to have, and pay into one cash ISA per tax year.

How can an ISA be mis-sold?

As with all financial mis-selling, it is possible for an ISA to be mis-sold, in particular, a stocks and shares ISA. 

ISA’s can be mis-sold if: –

  • You were not advised of the differences between a cash ISA and a stocks and shares ISA, or you were led to believe that they are the same thing.
  • If with a stocks and shares ISA, you were not advised fully about the level of risk or your attitude to level of risk was not ascertained by the adviser.
  • If your ISA adviser did not take into account your full circumstances, needs and any existing investments that you may already have.
  • You were not advised how you would be affected in the event you suffered significant loss of investment.
  • Your adviser did not explain the terms and conditions or provide full terms and conditions paperwork or explain any exclusions to the scheme that would adversely affect you.

Halifax Wouldn’t Mis-sell my ISA? Would they?

It is possible for Halifax, along with other high street lenders to have mis-sold your ISA.

If you feel that you were given unsuitable advice, or you were given no advice at all, in particular about the risks to you about your ISA, and you subsequently ended up with an ISA that was unsuitable for you, you may have a potential claim for a mis-sale.

Can I Receive Compensation for a Mis-sold ISA?

As with all mis-sales, you are entitled to compensation for a mis-sold ISA. 

You should firstly contact Halifax, or the lender that you took the ISA with to resolve the complaint in the first place. 

If the bank does not respond within 8 weeks, or does not accept that your ISA was mis-sold to you, then you are entitled to refer your complaint to the Financial Ombudsman Service, which is a free service to you and details and information can be found on their website.

If you would prefer to use our services, we would be delighted to assist you under our No Win, No Fee scheme, where we would only charge you 20% plus VAT on any compensation recovered on your behalf.

What compensation would I get if the ISA was found to be mis-sold?

The compensation you receive if an ISA is deemed to have been mis-sold to you will include: –

  1. Compensation for any money that you may have lost;
  2. Interest added on top of the compensation, currently set at 8
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Mis-sold ISA by Barclays

What is an ISA?

An ISA is the shortened term for an Individual Savings Account. 

ISA’s were introduced in 1999 and have been and continue to be a popular way for people to save and invest their money.

There are many different types of ISA schemes available on the market, including, but not limited to, help to buy for first-time buyers ISA’s, junior cash ISA’s and stocks and shares ISA’s.

ISA’s essentially enable you to save funds tax-free (currently up to £20,000 per year) into a savings account. There are many providers who offer ISA’s, including: –

  • High Street Banks
  • Building Societies
  • National Savings & Investments
  • Asset managers
  • Insurers

Some ISA’s enable you to access cash straight away, when you need it, whilst other ISA plans require you to commit to keeping your savings in the ISA for a specific period of time in order to get the larger interest rate.

You are only allowed to have, and pay into one cash ISA per tax year.

How can an ISA be mis-sold?

As with all financial mis-selling, it is possible for an ISA to be mis-sold, in particular, a stocks and shares ISA. 

ISA’s can be mis-sold if: –

  • You were not advised of the differences between a cash ISA and a stocks and shares ISA, or you were led to believe that they are the same thing.
  • If with a stocks and shares ISA, you were not advised fully about the level of risk or your attitude to level of risk was not ascertained by the adviser.
  • If your ISA adviser did not take into account your full circumstances, needs and any existing investments that you may already have.
  • You were not advised how you would be affected in the event you suffered significant loss of investment.
  • Your adviser did not explain the terms and conditions or provide full terms and conditions paperwork or explain any exclusions to the scheme that would adversely affect you.

Barclays Wouldn’t Mis-sell my ISA? Would they?

It is possible for Barclays, along with other high street lenders to have mis-sold your ISA.

If you feel that you were given unsuitable advice, or you were given no advice at all, in particular about the risks to you about your ISA, and you subsequently ended up with an ISA that was unsuitable for you, you may have a potential claim for a mis-sale.

Can I Receive Compensation for a Mis-sold ISA?

As with all mis-sales, you are entitled to compensation for a mis-sold ISA. 

You should firstly contact Barclays, or the lender that you took the ISA with to resolve the complaint in the first place. 

If the bank does not respond within 8 weeks, or does not accept that your ISA was mis-sold to you, then you are entitled to refer your complaint to the Financial Ombudsman Service, which is a free service to you and details and information can be found on their website.

If you would prefer to use our services, we would be delighted to assist you under our No Win, No Fee scheme, where we would only charge you 20% plus VAT on any compensation recovered on your behalf.

What compensation would I get if the ISA was found to be mis-sold?

The compensation you receive if an ISA is deemed to have been mis-sold to you will include: –

  1. Compensation for any money that you may have lost;
  2. Interest added on top of the compensation, currently set at 8
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Mis-sold Equity Release Mortgages

Mis-sold Equity Release Mortgages

What is an Equity Release Mortgage?

An equity release mortgage is also sometimes referred to as a lifetime mortgage. 

It is a mortgage/loan which is taken out against your home, or another property in your name, in exchange for you taking out a sum of cash (equity). 

The loan amount (plus interest) is then repaid either when you move into long-term care, sell the property or die.

These schemes are normally targeted at people over 55 and the cash or equity released can be taken either in small amounts over specified periods of time, or as one large lump sum which can free up cash for you and your loved ones to use.

With lifetime mortgages, you do not usually have to make repayments towards the mortgage whilst you are still living. The interest is added to the mortgage and is then repaid upon your death. However, there is the option to pay some or all of the interest and capital off during your lifetime.

Some equity releases are known as home reversions. This is where you can sell part or all of the equity in your property to a home reversion provider in exchange for regular payments of money over a period of time, or as one lump sum. This type of equity release scheme enables you to live in your home rent-free until you sell it or die. Once you die, or you sell the property, the sale proceeds are then divided according to ownership of the property.

How can an Equity Release Mortgage be Mis-sold?

If an equity release/lifetime mortgage was sold to you before the equity release plan’s scheme minimum age (usually age 55, but in some cases age 60 or 65), it could have been mis-sold to you. 

If the equity release mortgage taken was for more than 60% of the value of your home, then it could have been mis-sold. 

If the interest rates were not fixed on the mortgage, or an upper limit was not put on the variable interest rates, then the equity release mortgage could have been mis-sold. 

If you are not given the option or right to remain in your home for life, or until you sell or move into long-term care, then you could have been mis-sold your equity release mortgage.

If the option to move your equity release mortgage to another property was never discussed or offered, you could have been mis-sold your equity release mortgage.

If there is no provision to guarantee your mortgage in the event there is not enough funds after sales costs, estate agents and conveyancing fees, then you could have been mis-sold your equity release mortgage. 

If you were not advised that you can make some, if not all interest repayments over your lifetime mortgage, you may have been mis-sold your equity release mortgage. 

If you were not advised that you could release smaller sums of money, not just as one large lump sum, you may have been mis-sold your equity release mortgage. 

The above list is not exhaustive but are some of the main points that cover mis-sale.

Would a Lender Mis-sell me an Equity Release Mortgage?

Unfortunately, many lenders have been found to have mis-sold equity release mortgages to their customers. 

Equity release can be more expensive than a normal mortgage because you are usually charged higher interest rates and, when the interest is added, the mortgage costs can mount up very quickly. It is therefore easy to see how a vulnerable customer could be talked into equity release without realising the full consequences of taking the equity release.

The Financial Ombudsman Service is currently looking at equity release and lifetime mortgages and their mis-sale due to the complaints that have been raised about them to date.

Can I Receive Compensation for Mis-sold Equity Release Mortgage? 

Any compensation from the equity release mortgage provider, and indeed, any compensation that is sought by the Financial Ombudsman Service would include: –

  • Compensation for distress and inconvenience experienced by the mis-sale;
  • Any early repayment charges, with interest;
  • Compensation on the estate to put the customer back into the position they would have been had they not received unsuitable advice.

Should I check if I have an Equity Release Mortgage?

If you do not know if you have an equity release mortgage, then you should definitely check to see if you have this type of mortgage.

To check if you have an equity release mortgage, you should firstly ask your mortgage provider to confirm this for you.

Should I check if a Relative had an Equity Release Mortgage? 

You should check if a relative had an equity release mortgage as this will impact on their overall asset in their property in the event of their death. This can lead to surviving spouses losing out financially with any inheritance and leaving them in a vulnerable financial position following their loved one’s death at a time which will already be very difficult for them.

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Mis-sold Critical Illness Cover

mis-sold critical illness cover

 

What is Critical Illness cover?

Many people pay monthly or yearly into critical illness cover policies. 

These are essentially insurance policies that are paid out by the insurance companies if you become incapacitated due to very serious illnesses which have life-changing consequences and prevent you from working on.

The payments you receive can help to provide a great deal of financial stability to you and your dependents/loved-ones if such a situation occurs and by helping you to continue to meet your continued outgoings, such as mortgage/rent, utility bills and any other monthly/yearly commitments you are committed to.

How can a Critical Illness Policy be Mis-sold?

A critical illness policy can be mis-sold, even if you have not lost out financially. It can be mis-sold if: –

  • You felt pressured into taking the policy;
  • You were not given the option to shop around for other products that may suit your needs better;
  • The product was not right for you;
  • The policy does not do what it said it would do;
  • Terms and conditions were not explained fully;
  • You were not made aware of any exclusions to the policy;
  • You had an existing medical condition at the time of taking the policy which was not taken into account by the adviser.

My Insurer Wouldn’t Mis-sell Critical Illness cover? Would they?

All insurances can be mis-sold!

If the cover was not fully explained or, when you do make a claim, the policy does not cover the illness you have, or if the policy provider states you didn’t disclose certain information, then you are likely to have been mis-sold a critical illness cover. 

If you also experienced poor customer service, such as they delayed paying your claim for any particular reason, then your policy cover could have been mis-sold.

Can I Receive Compensation for a Mis-sold Critical Illness Cover?

Critical illness cover taken out before 14th January 2005 may not be suitable for compensation from the Financial Ombudsman Services. However, any critical illness policies taken out after this date can be considered fully. 

That is not to say that you cannot still make a complaint direct to the bank, or the financial lender that sold you the critical illness cover if it was taken before 14th January 2005.

What Compensation would I get if a Critical Illness Policy was Mis-sold?

If a mis-sale of critical illness policy is established, then the usual compensation you would receive would be: –

  • The claim amount (usually premiums paid);
  • Interest on top of the claim amount;
  • A compensation payment if there were further financial impacts on you due to the delays in the claim being paid to you.

If you believe that your critical illness cover was mis-sold to you or you are concerned that it may have been, we would be happy to assist you pursuing your potential claim, or any other provider of your critical illness cover. 

We are able to make enquiries, initially, and thereafter progress claims for mis-sale on your behalf all on our no win, no fee basis. 

In the event we are successful recovering compensation for you, our fees would be 20% plus VAT (24% inclusive of VAT).

READ MORE +

Critical Illness Mis-Selling by The Pensions Trust were you Mis-sold?

What is Critical Illness cover?

Many people pay The Pensions Trust monthly or yearly into critical illness cover policies. 

These are essentially insurance policies that are paid out by the insurance companies if you become incapacitated due to very serious illnesses which have life-changing consequences and prevent you from working on.

The payments you receive can help to provide a great deal of financial stability to you and your dependents/loved-ones if such a situation occurs and by helping you to continue to meet your continued outgoings, such as mortgage/rent, utility bills and any other monthly/yearly commitments you are committed to.

How can a Critical Illness Policy be Mis-sold?

A critical illness policy can be mis-sold, even if you have not lost out financially. It can be mis-sold if: –

  • You felt pressured into taking the policy;
  • You were not given the option to shop around for other products that may suit your needs better;
  • The product was not right for you;
  • The policy does not do what it said it would do;
  • Terms and conditions were not explained fully;
  • You were not made aware of any exclusions to the policy;
  • You had an existing medical condition at the time of taking the policy which was not taken into account by the adviser.

The Pensions Trust Wouldn’t Mis-sell Critical Illness cover? Would they?

All insurances can be mis-sold, including by The Pensions Trust. 

If the cover was not fully explained or, when you do make a claim, the policy does not cover the illness you have, or if the policy provider states you didn’t disclose certain information, then you are likely to have been mis-sold a critical illness cover. 

If you also experienced poor customer service by Halifax, such as they delayed paying your claim for any particular reason, then your policy cover could have been mis-sold.

Can I Receive Compensation for Mis-sold Critical Illness cover?

Critical illness cover taken out before 14th January 2005 may not be suitable for compensation from the Financial Ombudsman Services. However, any critical illness policies taken out after this date can be considered fully. 

That is not to say that you cannot still make a complaint direct to Halifax, or the financial lender that sold you the critical illness cover if it was taken before 14th January 2005.

What Compensation would I get if a Critical Illness Policy was Mis-sold?

If a mis-sale of critical illness policy is established, then the usual compensation you would receive would be: –

  • The claim amount (usually premiums paid);
  • Interest on top of the claim amount;
  • A compensation payment if there were further financial impacts on you due to the delays in the claim being paid to you.

If you believe that your critical illness cover was mis-sold to you or you are concerned that it may have been, we would be happy to assist you pursuing your potential claim against The Pensions Trust, or any other provider of your critical illness cover. 

We are able to make enquiries, initially, and thereafter progress claims for mis-sale on your behalf all on our no win, no fee basis. 

In the event we are successful recovering compensation for you, our fees would be 20% plus VAT (24% inclusive of VAT).

READ MORE +

Critical Illness Mis-Selling by Equitable Life Assurance Society were you Mis-sold?

What is Critical Illness cover?

Many people pay Equitable Life Assurance Society monthly or yearly into critical illness cover policies. 

These are essentially insurance policies that are paid out by the insurance companies if you become incapacitated due to very serious illnesses which have life-changing consequences and prevent you from working on.

The payments you receive can help to provide a great deal of financial stability to you and your dependents/loved-ones if such a situation occurs and by helping you to continue to meet your continued outgoings, such as mortgage/rent, utility bills and any other monthly/yearly commitments you are committed to.

How can a Critical Illness Policy be Mis-sold?

A critical illness policy can be mis-sold, even if you have not lost out financially. It can be mis-sold if: –

  • You felt pressured into taking the policy;
  • You were not given the option to shop around for other products that may suit your needs better;
  • The product was not right for you;
  • The policy does not do what it said it would do;
  • Terms and conditions were not explained fully;
  • You were not made aware of any exclusions to the policy;
  • You had an existing medical condition at the time of taking the policy which was not taken into account by the adviser.

Equitable Life Assurance Society Wouldn’t Mis-sell Critical Illness cover? Would they?

All insurances can be mis-sold, including by Equitable Life Assurance Society. 

If the cover was not fully explained or, when you do make a claim, the policy does not cover the illness you have, or if the policy provider states you didn’t disclose certain information, then you are likely to have been mis-sold a critical illness cover. 

If you also experienced poor customer service by Halifax, such as they delayed paying your claim for any particular reason, then your policy cover could have been mis-sold.

Can I Receive Compensation for Mis-sold Critical Illness cover?

Critical illness cover taken out before 14th January 2005 may not be suitable for compensation from the Financial Ombudsman Services. However, any critical illness policies taken out after this date can be considered fully. 

That is not to say that you cannot still make a complaint direct to Halifax, or the financial lender that sold you the critical illness cover if it was taken before 14th January 2005.

What Compensation would I get if a Critical Illness Policy was Mis-sold?

If a mis-sale of critical illness policy is established, then the usual compensation you would receive would be: –

  • The claim amount (usually premiums paid);
  • Interest on top of the claim amount;
  • A compensation payment if there were further financial impacts on you due to the delays in the claim being paid to you.

If you believe that your critical illness cover was mis-sold to you or you are concerned that it may have been, we would be happy to assist you pursuing your potential claim against Equitable Life Assurance Society, or any other provider of your critical illness cover. 

We are able to make enquiries, initially, and thereafter progress claims for mis-sale on your behalf all on our no win, no fee basis. 

In the event we are successful recovering compensation for you, our fees would be 20% plus VAT (24% inclusive of VAT).

READ MORE +

Critical Illness Mis-Selling by Virgin were you Mis-sold?

What is Critical Illness cover?

Many people pay Virgin monthly or yearly into critical illness cover policies. 

These are essentially insurance policies that are paid out by the insurance companies if you become incapacitated due to very serious illnesses which have life-changing consequences and prevent you from working on.

The payments you receive can help to provide a great deal of financial stability to you and your dependents/loved-ones if such a situation occurs and by helping you to continue to meet your continued outgoings, such as mortgage/rent, utility bills and any other monthly/yearly commitments you are committed to.

How can a Critical Illness Policy be Mis-sold?

A critical illness policy can be mis-sold, even if you have not lost out financially. It can be mis-sold if: –

  • You felt pressured into taking the policy;
  • You were not given the option to shop around for other products that may suit your needs better;
  • The product was not right for you;
  • The policy does not do what it said it would do;
  • Terms and conditions were not explained fully;
  • You were not made aware of any exclusions to the policy;
  • You had an existing medical condition at the time of taking the policy which was not taken into account by the adviser.

Virgin Wouldn’t Mis-sell Critical Illness cover? Would they?

All insurances can be mis-sold, including by Virgin. 

If the cover was not fully explained or, when you do make a claim, the policy does not cover the illness you have, or if the policy provider states you didn’t disclose certain information, then you are likely to have been mis-sold a critical illness cover. 

If you also experienced poor customer service by Halifax, such as they delayed paying your claim for any particular reason, then your policy cover could have been mis-sold.

Can I Receive Compensation for Mis-sold Critical Illness cover?

Critical illness cover taken out before 14th January 2005 may not be suitable for compensation from the Financial Ombudsman Services. However, any critical illness policies taken out after this date can be considered fully. 

That is not to say that you cannot still make a complaint direct to Halifax, or the financial lender that sold you the critical illness cover if it was taken before 14th January 2005.

What Compensation would I get if a Critical Illness Policy was Mis-sold?

If a mis-sale of critical illness policy is established, then the usual compensation you would receive would be: –

  • The claim amount (usually premiums paid);
  • Interest on top of the claim amount;
  • A compensation payment if there were further financial impacts on you due to the delays in the claim being paid to you.

If you believe that your critical illness cover was mis-sold to you or you are concerned that it may have been, we would be happy to assist you pursuing your potential claim against Virgin, or any other provider of your critical illness cover. 

We are able to make enquiries, initially, and thereafter progress claims for mis-sale on your behalf all on our no win, no fee basis. 

In the event we are successful recovering compensation for you, our fees would be 20% plus VAT (24% inclusive of VAT).

READ MORE +

Critical Illness Mis-Selling by St James Place were you Mis-sold?

What is Critical Illness cover?

Many people pay St James Place monthly or yearly into critical illness cover policies. 

These are essentially insurance policies that are paid out by the insurance companies if you become incapacitated due to very serious illnesses which have life-changing consequences and prevent you from working on.

The payments you receive can help to provide a great deal of financial stability to you and your dependents/loved-ones if such a situation occurs and by helping you to continue to meet your continued outgoings, such as mortgage/rent, utility bills and any other monthly/yearly commitments you are committed to.

How can a Critical Illness Policy be Mis-sold?

A critical illness policy can be mis-sold, even if you have not lost out financially. It can be mis-sold if: –

  • You felt pressured into taking the policy;
  • You were not given the option to shop around for other products that may suit your needs better;
  • The product was not right for you;
  • The policy does not do what it said it would do;
  • Terms and conditions were not explained fully;
  • You were not made aware of any exclusions to the policy;
  • You had an existing medical condition at the time of taking the policy which was not taken into account by the adviser.

St James Place Wouldn’t Mis-sell Critical Illness cover? Would they?

All insurances can be mis-sold, including by St James Place. 

If the cover was not fully explained or, when you do make a claim, the policy does not cover the illness you have, or if the policy provider states you didn’t disclose certain information, then you are likely to have been mis-sold a critical illness cover. 

If you also experienced poor customer service by Halifax, such as they delayed paying your claim for any particular reason, then your policy cover could have been mis-sold.

Can I Receive Compensation for Mis-sold Critical Illness cover?

Critical illness cover taken out before 14th January 2005 may not be suitable for compensation from the Financial Ombudsman Services. However, any critical illness policies taken out after this date can be considered fully. 

That is not to say that you cannot still make a complaint direct to Halifax, or the financial lender that sold you the critical illness cover if it was taken before 14th January 2005.

What Compensation would I get if a Critical Illness Policy was Mis-sold?

If a mis-sale of critical illness policy is established, then the usual compensation you would receive would be: –

  • The claim amount (usually premiums paid);
  • Interest on top of the claim amount;
  • A compensation payment if there were further financial impacts on you due to the delays in the claim being paid to you.

If you believe that your critical illness cover was mis-sold to you or you are concerned that it may have been, we would be happy to assist you pursuing your potential claim against St James Place, or any other provider of your critical illness cover. 

We are able to make enquiries, initially, and thereafter progress claims for mis-sale on your behalf all on our no win, no fee basis. 

In the event we are successful recovering compensation for you, our fees would be 20% plus VAT (24% inclusive of VAT).

READ MORE +

Critical Illness Mis-Selling by PensionBee were you Mis-sold?

What is Critical Illness cover?

Many people pay PensionBee monthly or yearly into critical illness cover policies. 

These are essentially insurance policies that are paid out by the insurance companies if you become incapacitated due to very serious illnesses which have life-changing consequences and prevent you from working on.

The payments you receive can help to provide a great deal of financial stability to you and your dependents/loved-ones if such a situation occurs and by helping you to continue to meet your continued outgoings, such as mortgage/rent, utility bills and any other monthly/yearly commitments you are committed to.

How can a Critical Illness Policy be Mis-sold?

A critical illness policy can be mis-sold, even if you have not lost out financially. It can be mis-sold if: –

  • You felt pressured into taking the policy;
  • You were not given the option to shop around for other products that may suit your needs better;
  • The product was not right for you;
  • The policy does not do what it said it would do;
  • Terms and conditions were not explained fully;
  • You were not made aware of any exclusions to the policy;
  • You had an existing medical condition at the time of taking the policy which was not taken into account by the adviser.

PensionBee Wouldn’t Mis-sell Critical Illness cover? Would they?

All insurances can be mis-sold, including by PensionBee. 

If the cover was not fully explained or, when you do make a claim, the policy does not cover the illness you have, or if the policy provider states you didn’t disclose certain information, then you are likely to have been mis-sold a critical illness cover. 

If you also experienced poor customer service by Halifax, such as they delayed paying your claim for any particular reason, then your policy cover could have been mis-sold.

Can I Receive Compensation for Mis-sold Critical Illness cover?

Critical illness cover taken out before 14th January 2005 may not be suitable for compensation from the Financial Ombudsman Services. However, any critical illness policies taken out after this date can be considered fully. 

That is not to say that you cannot still make a complaint direct to Halifax, or the financial lender that sold you the critical illness cover if it was taken before 14th January 2005.

What Compensation would I get if a Critical Illness Policy was Mis-sold?

If a mis-sale of critical illness policy is established, then the usual compensation you would receive would be: –

  • The claim amount (usually premiums paid);
  • Interest on top of the claim amount;
  • A compensation payment if there were further financial impacts on you due to the delays in the claim being paid to you.

If you believe that your critical illness cover was mis-sold to you or you are concerned that it may have been, we would be happy to assist you pursuing your potential claim against PensionBee, or any other provider of your critical illness cover. 

We are able to make enquiries, initially, and thereafter progress claims for mis-sale on your behalf all on our no win, no fee basis. 

In the event we are successful recovering compensation for you, our fees would be 20% plus VAT (24% inclusive of VAT).

READ MORE +

Critical Illness Mis-Selling by Hargreaves Lansdown were you Mis-sold?

What is Critical Illness cover?

Many people pay Hargreaves Lansdown monthly or yearly into critical illness cover policies. 

These are essentially insurance policies that are paid out by the insurance companies if you become incapacitated due to very serious illnesses which have life-changing consequences and prevent you from working on.

The payments you receive can help to provide a great deal of financial stability to you and your dependents/loved-ones if such a situation occurs and by helping you to continue to meet your continued outgoings, such as mortgage/rent, utility bills and any other monthly/yearly commitments you are committed to.

How can a Critical Illness Policy be Mis-sold?

A critical illness policy can be mis-sold, even if you have not lost out financially. It can be mis-sold if: –

  • You felt pressured into taking the policy;
  • You were not given the option to shop around for other products that may suit your needs better;
  • The product was not right for you;
  • The policy does not do what it said it would do;
  • Terms and conditions were not explained fully;
  • You were not made aware of any exclusions to the policy;
  • You had an existing medical condition at the time of taking the policy which was not taken into account by the adviser.

Hargreaves Lansdown Wouldn’t Mis-sell Critical Illness cover? Would they?

All insurances can be mis-sold, including by Hargreaves Lansdown. 

If the cover was not fully explained or, when you do make a claim, the policy does not cover the illness you have, or if the policy provider states you didn’t disclose certain information, then you are likely to have been mis-sold a critical illness cover. 

If you also experienced poor customer service by Halifax, such as they delayed paying your claim for any particular reason, then your policy cover could have been mis-sold.

Can I Receive Compensation for Mis-sold Critical Illness cover?

Critical illness cover taken out before 14th January 2005 may not be suitable for compensation from the Financial Ombudsman Services. However, any critical illness policies taken out after this date can be considered fully. 

That is not to say that you cannot still make a complaint direct to Halifax, or the financial lender that sold you the critical illness cover if it was taken before 14th January 2005.

What Compensation would I get if a Critical Illness Policy was Mis-sold?

If a mis-sale of critical illness policy is established, then the usual compensation you would receive would be: –

  • The claim amount (usually premiums paid);
  • Interest on top of the claim amount;
  • A compensation payment if there were further financial impacts on you due to the delays in the claim being paid to you.

If you believe that your critical illness cover was mis-sold to you or you are concerned that it may have been, we would be happy to assist you pursuing your potential claim against Hargreaves Lansdown, or any other provider of your critical illness cover. 

We are able to make enquiries, initially, and thereafter progress claims for mis-sale on your behalf all on our no win, no fee basis. 

In the event we are successful recovering compensation for you, our fees would be 20% plus VAT (24% inclusive of VAT).

READ MORE +
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