Term Life Insurance, Banks Abusing Clients Again

ET, term assurance can cover you for death, terminal illness etc, for a particular sum assured during a selected term of cover. Now what else would you like to know from someone who has 'no knowledge of a subject' ?

Thank you Destry are you qualified and authorised to give advice on this subject? I assume you must be or you would not be wasting your time on posting on the subject. I know EOS is a forum for any member to post on, mostly because they are bored, but on occasions there are professionals on EOS like yourself. Could you advise me and give me a quote. Are you regulated with the FCA?.

Continuing on the topic:

There are several Courts in Spain which consider that mortgage clauses that make  Life Insurances obligatory for the hiring of a mortgage are abusive according to provision 84 of the Spanish Consumer Act, if the client was not sufficiently informed before contracting the insurance, it was imposed on the client or it was never requested by him.  

Sabadell saying I`m stuck with this offer, I have offered  proof of my employers life insurance but I'm not getting anywhere.

What can I do if anything.

Nev,

It was Banco Sabbadell that we had our problem with. We took out new policies with Miquel of Liberty Seguro in Los Alcazares due to teh outrageous amounts that we were paying. Miguel submits the paperwork to Head Office and deals with them, not the local branch, which I guess yours may be the same as ours. In hindsight we should have also submitted the paperwork on the branch in person ourselves as well, then there my have been less of a communication issue with the bank and their head office.

I personally, with respect to the acutal cost of the insurance through a broker in Spain, would say that it's easier (and better if worst happens) to have a Spanish policy as well. Having said that, when i was working the bank did acceot that I was adequtely insured, the probelm was with my wife's policy.

Hope this helps.

Mike. 

I am afraid, you have two options:

1. Accept and proceed to the claim procedure I described in the post 13 Jan 2017 15:16 

2. Look for other financial entities

I would be happy to send a letter to the Bank and see reaction. Contact me if you wish

Cheers

M