Any advice please

Senna

I'll keep this as short as possible;
My father passed away in 2000, he and my mother had a joint account. When he died the bank froze the account and set up a new one for my mum. But my mothers life assurance premium came out of the joint account, in early 2001 the premium didn't come out of the account as it was closed/frozen, and because she didn't realise till well after the 3 months "grace" period, her policy was cancelled.

The bank say she was sent a new direct debit mandate, but she says she didn't receive it (i would believe her as she would never ignore a letter from the bank etc).

I've been advised to take the mater further as the "bank may have acted within its rules, but not in the best interest of the customer". Has anyone any advice?



p.s. the policy was for 26k, and because of ill heath since the policy ended, she would not qualify for a new policy.

Jet Black

After the three months back in 2001 when it was realised the policy was expired could a new policy have been taken out then? Its slightly unclear in the post but would the bank back in 2001 not allow a new life policy?

Its really hard to say now and even harder to prove much after 9 years, have you contacted the bank and explained this?

The way I see it is the old account was canceled the bank said they would sort out the direct debit but did not send one or got lost in post. Im guessing back in 2001 the bank then sent a letter saying the policy had expired. This is were you should have shown the bank their error and have the policy reinstated. As said 9 years later it will be very hard.

Senna

Thanks for the reply, unfortunately my mother has a medical condition that would rule out a new policy, she has had this since before the policy was cancelled.

Andymfinancial

Irish life will offer your mother a plan. They have a guaranteed acceptance policy, irrespective of health. Max sum assured 25k, as lomg as she is between 50 & 80. There is no cover in the first 2yrs of paying except for accidental death. Its worth looking at though. It is called the 50+ Easy Life Cover Plan

Formal shorts

Senna when did your mother realise there was a problem?