Term Insurance Decision Reference 2022-0121

Case OutcomeRejected
Subject MatterTerm Insurance
Reference2022-0121
Date07 April 2022
Finantial SectorInsurance
Conducts Complained OfLapse/cancellation of policy (life),Failure to process instructions
Decision Ref:
2022-0121
Sector:
Insurance
Product / Service:
Term Insurance
Conduct(s) complained of:
Lapse/cancellation of policy (life)
Failure to process instructions
Outcome:
Rejected
LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN
Background
The complaint concerns the Provider’s handling of the Complainants’ attempts to avail of
an option under a Life Assurance Policy to convert cover to another policy.
The Complainants’ Case
The Complainants state that their life assurance plan was due to mature on 11 November
2019 and that the Provider had offered them the option of converting the existing plan for
a further period “with a new monthly premium”. The Complainants assert that they
contacted the Provider by telephone on 2 October 2019 and that the Provider wrote to
them on 3 October 2019 supplying the options available to them.
The Complainants state that they “subsequently completed the Application form…dated
the 16th October 2019 and that they:
“…also telephoned [the Provider] to say we were going to proceed with the Option
to renew and forwarded the completed Application Form with the necessary Direct
Debit Mandate to [the Provider] prior to the deadline of 10th November 2019.

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