Critical & Serious Illness Decision Reference 2022-0226

• Case Outcome: Rejected
• Reference: 2022-0226
• Date: 05 July 2022
• Year: 2022
• Subject Matter: Critical & Serious Illness
• Finantial Sector: Insurance
• Conducts Complained Of: Lapse/cancellation of policy,Delayed or inadequate communication

Decision Ref:

2022-0226

Sector:

Insurance

Product / Service:

Critical & Serious Illness

Conduct(s) complained of:

Lapse/cancellation of policy

Delayed or inadequate communication

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

This complaint concerns a critical illness policy which the Complainant holds with the

Provider.

The Complainant’s Case

The Complainant submits that he held a critical illness policy with the Provider since 1993.

He submits that he paid his monthly premium payments on his policy until 1 September

2018 and that he paid a final monthly premium payment on his policy on 1 August 2018.

The Complainant states that in or around August 2018 he was re-organising his affairs

because he had significant financial commitments in relation to the educational

requirements of his children. He submits that he was experiencing extreme financial

pressure, and in that context, he made the decision to cancel his policy with the Provider.

The Complainant submits that shortly after cancelling his policy with the Provider he

regretted doing so, in particular in light of the number of premium payments he had already

paid and the short time during which the cover remained on the policy. Therefore, the

Complainant wanted to reverse his instruction to cancel the policy.

The Complainant states that he rang the Provider and requested to speak to the Provider’s

representative, Mr. M, with whom he had previously communicated in relation to his policy.