Miss-selling of Life Insurance, HELP?
Hi, it's a very long story but in a nutshell I be miss-sold life insurance by the HSBC, to proceed with my claim I own been asked to get a quote for energy insurance from 1994 so they can asses the compensation, I am finding this very difficult as you can imagine, have anyone got any ideas how I can obtain a quote for Life Insurance from 1994?
Answers:
Try a friendly Insurance Broker, one independent from the banks, they may be able to serve. Must say though, that HSBC are taking this a bit far they should be able to do this themself. Have you a Solicitor dealing next to this, if so complain to them.
Good luck.
What? What in this picture am I missing?
Is the duration insurance policy your policy or someone else's?Insurance companies never, ever ask you to do this kind of homework.
Call the Department of Insurance in your state. The association is below. Just click on your state. Source(s): https://www.aipso.com/links.asp
No way I know of.
Uhhh, if you don't already have a lawyer, I devise you likely need one. You could also approach a duration insurance company and ask for historical rates of their policies...
Other than that, can't help much.. Sorry!
1. I'm not sure why HSBC are asking for you to provide this information. They will have access to their actuarial rates from 1994, unless they are asking for a quote from a competitor to compare with? You don't brand name it clear, but have you asked HSBC to check with their actuaries?
2. There are so tons companies in the life insurance bazaar, and there is a big variance in their rates. How do you know whether the cheapest provider's quote you win today, would have been the cheapest provider within 1994? Impossible to judge. You could try speaking with the Financial Services Authority (FSA). Although it be a predecessor to the FSA that regulated the industry in 1994, the FSA currently publish comparative rate tables for different products and may know how to provide back-dated info to 1994. I've copied the e-mail address below.
3. You could get a quote, today, for life insurance but make a contribution your date of birth as 15 years younger. This would assume the correct mortality rate for your age in 1994, but it would be at today's cost-rates. The cost of life insurance have come down dramatically in the last 10 years or so. So whilst this isn't just right, it's at least a start. You could go online and attain a quote by googling for life insurance, however I'd have a chat near a friendly independent financial advisor and ask for a quick quote. It literally takes 2 minutes, and I'd close to to think a kind-hearted advisor would help.
4. Get a quote - using your actual date of birth - from an independent financial guide and ask for the cheapest provider's quote. Then write to that provider's Company Actuary, explain your predicament, and ask for a comparative quote from 1994.
You don't need a lawyer as one of our US repondants have suggested (why do Americans need lawyers for everything?!). You could glibly do this yourself with a little perseverence!
Very best of luck. I hope this help a little. Source(s): tables(a)fsa.gov.uk
Related Questions:
Answers:
Try a friendly Insurance Broker, one independent from the banks, they may be able to serve. Must say though, that HSBC are taking this a bit far they should be able to do this themself. Have you a Solicitor dealing next to this, if so complain to them.
Good luck.
What? What in this picture am I missing?
Is the duration insurance policy your policy or someone else's?Insurance companies never, ever ask you to do this kind of homework.
Call the Department of Insurance in your state. The association is below. Just click on your state. Source(s): https://www.aipso.com/links.asp
No way I know of.
Uhhh, if you don't already have a lawyer, I devise you likely need one. You could also approach a duration insurance company and ask for historical rates of their policies...
Other than that, can't help much.. Sorry!
1. I'm not sure why HSBC are asking for you to provide this information. They will have access to their actuarial rates from 1994, unless they are asking for a quote from a competitor to compare with? You don't brand name it clear, but have you asked HSBC to check with their actuaries?
2. There are so tons companies in the life insurance bazaar, and there is a big variance in their rates. How do you know whether the cheapest provider's quote you win today, would have been the cheapest provider within 1994? Impossible to judge. You could try speaking with the Financial Services Authority (FSA). Although it be a predecessor to the FSA that regulated the industry in 1994, the FSA currently publish comparative rate tables for different products and may know how to provide back-dated info to 1994. I've copied the e-mail address below.
3. You could get a quote, today, for life insurance but make a contribution your date of birth as 15 years younger. This would assume the correct mortality rate for your age in 1994, but it would be at today's cost-rates. The cost of life insurance have come down dramatically in the last 10 years or so. So whilst this isn't just right, it's at least a start. You could go online and attain a quote by googling for life insurance, however I'd have a chat near a friendly independent financial advisor and ask for a quick quote. It literally takes 2 minutes, and I'd close to to think a kind-hearted advisor would help.
4. Get a quote - using your actual date of birth - from an independent financial guide and ask for the cheapest provider's quote. Then write to that provider's Company Actuary, explain your predicament, and ask for a comparative quote from 1994.
You don't need a lawyer as one of our US repondants have suggested (why do Americans need lawyers for everything?!). You could glibly do this yourself with a little perseverence!
Very best of luck. I hope this help a little. Source(s): tables(a)fsa.gov.uk
Related Questions:
- Should I catch life span insurance on myself?
- Can you mortgage borrow against Joint Personal Life Insurance cover?
- Gerber enthusiasm insurance is it wourth it?
- What is the status of Summerlin Life & Health Insurance within Nevada? Did it travel out of business?
- How do I find insurance energy policy for departed ex-husband?