Term Insurance Decision Reference 2022-0229

• Case Outcome: Rejected
• Subject Matter: Term Insurance
• Reference: 2022-0229
• Date: 12 July 2022
• Finantial Sector: Insurance
• Conducts Complained Of: Lapse/cancellation of policy (life),Delayed or inadequate communication

Decision Ref:

2022-0229

Sector:

Insurance

Product / Service:

Term Insurance

Conduct(s) complained of:

Lapse/cancellation of policy (life)

Delayed or inadequate communication

Outcome:

Rejected

LEGALLY BINDING DECISION OF THE FINANCIAL SERVICES AND PENSIONS OMBUDSMAN

The Complainant incepted a Level Term Assurance Policy with the Provider on 12 May

1994 for a term of 25 years, with a sum assured of IR £25,000.00 (€31,744.00) payable in

the event of the death of the insured.

This complaint concerns the events of 25 years later, when the Complainant says the

Provider, in May 2019, cancelled this policy without his knowledge.

The Complainant’s Case

The Complainant sets out his complaint in the Complaint Form he completed:

“I noticed in August 19 my monthly [premium] payment was not taken out from my

wife’s account since May 19. I phoned [the Provider], said my insurance was

terminated since 12-5-19, I told [the Agent] I got no notification, he said it was sent

to my old address [address redacted]. My son & wife live there & they got no letter

for me. [The Agent] said they will send a copy on 12-8-19. I did not receive any letter

so on 23-8-19 I phoned again & received a letter saying the policy was to be

cancelled [dated] 2-3-19 …

If I had passed away, my wife would be left with nothing and bills to pay”,

The Complainant states in the Complaint Form that in order to resolve this complaint,