Mis-Sold or mis-managed Life Assurance?

  • No Win, No Fee
  • No hidden charges
  • Over 13 years experience
  • Specialist solicitors
  • Professional friendly service

Is This You?

  • Did you purchase a life assurance policy which fails to provide the cover you were initially led to believe?
  • Have the levels of your monthly premiums significantly increased so as to make the plan unaffordable?
  • Is the surrender value of your life assurance plan worth less than the amount that you have contributed to it in premiums over the years?
  • Do you feel you were misadvised on your life assurance plan?

If any of these apply to you, then you may have grounds for bringing a No Win No Fee claim.

Call 0800 152 2620 or fill in the form today for FREE NO OBLIGATION ADVICE

Who Are We?

We are an award-winning team of solicitors who specialise in professional negligence and financial mis-selling claims. We use our many years of experience and knowledge in this area to obtain and scrutinize relevant documents from financial advisers, stockbrokers, CFD providers and other associated entities.  Using our specialist knowledge of the law of contract and negligence we identify any grounds for action. We submit written complaints, detailing every allegation and are successful in most of our cases.

How Much Am I Entitled To?

If you can successfully show that your Life Assurance policy was mis-sold then you can seek to recover the total amount of premiums paid plus interest.

Neglect Assist can investigate and advise upon the level of loss suffered and may be able to represent you in a no win, no fee claim.

What Do We Charge?

We offer an absolute and guaranteed No Win, No Fee agreement, it’s that simple. If successful, we take a fee of up to 20% (plus 4% VAT) * Of the award of compensation. If unsuccessful, our clients pay us nothing.

* We reserve the right to apply a deduction in more complex or higher risk cases of up to 30% plus VAT. Typical examples might be where there are multiple parties to claim against, where time limits for claiming may have passed or new areas of law are tested.

About Claims for Mis-sold Life Assurance

A Life Assurance policy is a product that is designed to pay out a lump sum of money upon the death of the person who purchased it.

Such policies are often used to provide financial security for the families of the policy holder. It may, for example, provide enough money to pay off the outstanding amount on a mortgage, or provide enough money to meet everyday essential expenses.

The circumstances of the person buying the life assurance need to be carefully considered to ensure that the policy provided fully meets their needs and requirements. For example, somebody with a young family making payments on their first mortgage will likely require more extensive insurance than somebody who has only a few years left to run on their mortgage.

There can even be some situations where life assurance is not appropriate at all. A person with no financial borrowings and no dependents may not require such a policy as there may not be anyone who will rely upon a lump sum pay out upon their death.

If such factors are not taken into consideration, it is possible that the person taking the policy can end up paying vast sums of money for a product that is inappropriate for them.

Fixed Term Policies

A Life Assurance policy can run for either a fixed term or alternatively for the whole of the policy holder’s life.

Under a fixed term policy the insured person will not receive a pay out unless they die within the fixed term period.

This means that years of premiums can potentially be paid towards a policy that may not ultimately provide a pay out. Anybody who purchases a fixed term policy needs to be made fully aware that there may be no financial benefit received from it. If this information is not clearly provided there may be grounds for claiming it was mis-sold.

Whole of Life Policies

Under a Whole of Life policy, the cover lasts for the entire lifetime of the policy holder and this means that some form of pay out will be provided upon their death providing premiums have been paid. However, it is of crucial importance to realise that;

  • Such plans do not guarantee the amount they will pay out.
  • Monthly premiums can increase significantly
  • The amount received back may be less than the total amount contributed.

This is because monthly premiums are typically placed into an investment fund and the performance of these investments can affect the level of benefit received from the policy.

If the investments fail to perform as well as originally anticipated, the policy holder may be required to increase the amount paid in monthly premiums to maintain the required level of cover under the policy. Alternatively, they may receive a lower level of cover for the same premium price.

If the policy holder is not informed of these facts before the commencement of the policy, it may end up costing them significantly more than what they were originally led to believe.

In some instances, the monthly premiums on the policy can reach an unsustainable level. The policy holder may choose to surrender the policy but the surrender value will sometimes fall significantly short of the amount actually contributed over the term of the policy in monthly premiums.

In recent years, there has been an increase in the number of people complaining about the way Life Assurance policies were sold to them. The industry regulator has recognised that there have been problems with the level and standard of advice provided. Many successful claims have already been pursued against the following providers;

Abbey Life                 

Guardian Financial Services

Scottish Widows       

Norwich Union / Aviva

Standard Life             

Legal & General

Lincoln Financial Group       

Allied Dunbar / Zurich

If you are concerned about the advice you received on your Life Assurance policy or have suffered financial losses due to its performance, then we may be able to help you bring a no win, no fee claim.

Life Assurance companies and other connected parties typically have indemnity insurance or other funds to cover the cost of such claims.               

If you feel that;

  • The true costs of your Life Assurance policy were not explained
  • The level of cover provided is not suitable for your needs
  • You have suffered financial loss due poor or misleading advice on your life assurance policy

Then we may be able to assist you in bringing a no win, no fee claim for compensation. Please telephone for free, without obligation advice on 0800 152 2620  or leave your details and we’ll call you back.

FAQs

Are there different types of life assurance?

Yes. A policy will generally cover you for a fixed period of time or for the whole of your life. Under a fixed term policy, you will not usually receive a pay out or return from the policy unless you die within the stipulated term.

Under a whole of life policy, a pay out will be made upon the death of the policy holder. However, the amount is not guaranteed and policy premiums can increase over the years. If the policy holder chooses to surrender the policy, they may receive back significantly less than the level of contributions made.

How much am I entitled to?

If you can successfully show that your Life Assurance policy was mis-sold then you can seek to recover the total amount of premiums paid plus interest.

We can investigate and advise upon the level of loss suffered and may be able to represent you in a no win, no fee claim.

What do we charge?

We offer an absolute and guaranteed No Win, No Fee agreement, it’s that simple. If successful, we take a fee of up to 20% (plus 4% VAT) * Of the award of compensation. If unsuccessful, our clients pay us nothing.

* We reserve the right to apply a deduction in more complex or higher risk cases of up to 30% plus VAT. Typical examples might be where there are multiple parties to claim against, where time limits for claiming may have passed or new areas of law are tested.

What if my claim has already been rejected?

We will still look at this for you.

Will I have to fill out loads of paperwork?

No, we will be able to do most of the necessary paperwork for you and we can obtain any relevant documents on your behalf. You will have to check the details of your claim before it is submitted, but we will assist you with this.

What do I do now?

Call us on 0800 152 2620  or email us. There is absolutely no obligation to proceed and if you tell us what’s happened, we will briefly explain if we think you have a claim and the procedure for filing a claim and the time limits that apply.

NO WIN, NO FEE

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