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Any life insurance experts on here?

I took a policy out about 20 years ago (I need to check the exact date) and have just been informed that my 'contractual policy review' has decided that either my premiums need to increase by 135% or the cover needs to decrease by 52%. And it's my choice which option to go for :eek:

Now I admit I haven't checked the small print on the policy yet (I will do this over the next few days - it's heavy reading) but I don't recall any mention being made 20 years ago of a 'review' (either by the 'independent' financial advisor or the underwriting company) and this is the first time in 20 years that they have wanted to change anything.

I haven't suddenly developed a life threatening illness or anything, I've just aged by 20 years, which clearly I was bound to do :)

It seems to me that the company in question are just short of cash and are trying to pull a fast one.
 

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We had the same (Allied Dunbar/Zurich policy) and argued with the financial ombudsman that the investment performance did not warrant such an increase in premiums, to the extent that their initial estimates were bordering on fraudulent etc, etc.

Got nowhere! If I ever get my hands on the incompetent arse that sold the policy I'll, ....oh, hang on.... it was me! :-(
 
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