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Big insurers just cannot figure it out

Recently, we were arranging a compulsory purchase annuity for someone who had suffered serious cancer of the bladder and bowel.

The big insurance company in the ceding scheme first attempted to apply an £8,000 market value adjuster which I told them I would not accept and a main board director rescinded this within two days despite having been initially advised of my client&#39s serious medical condition.

I was able to improve the figures greatly through an impaired life annuity although this was more complicated than some because unfortunately there were protected rights, it having been a section 32 buyout about a year ago.

The insurance company then caused me considerable difficulties because the head of its claims department seemed to be blissfully unaware of the difference between a compulsory purchase annuity and a substitute annuity and it took me about four attempts to persuade him that his firm would be the purchasers of the policy and had to sign the form.

They told me that forms were automatically returned, which, in fact, happened to us twice, despite being sent recorded delivery.

Later in the week, the same company sent a rep round to see me and, being very anxious for business, I gave her a chance at trying for an IVPP. She asked me whether I would be taking trail commission and what fund it was to be invested in?

The same day, I rang a big composite insurance company which had taken three attempts to get a section 32 quote right. The third attempt had come in just five minutes before but, unfortunately, it does not keep the figures so I had to go through them all again for a fourth try.

I cannot understand why its representative got stroppy with me when I pointed out that he did not need to know my client&#39s smoking habits or employment details.

I honestly believe that if these people had brains they would be extremely lonely.

And so it goes on day after day after day but at least it is not just the insurance companies but that is another story.

BGW Jamieson

Jamieson Financial Management,

Bognor Regis, West Sussex


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