MTheo Posted May 18, 2013 Share Posted May 18, 2013 I got out redundancy cover (£35 a month) in January as there were a lot changes going to be happening so was wise at the time, everything has panned out ok so want to cancel, the policy was for a year so know it's gonna be tricky, wondering what options people think I have (if any) It's with Legal and General by the way. I quote... 'If you decide you don't want this policy after 30 days, and you have not made a claim, we will charge you for the period that we have provided cover to you.' 'Your policy is an annual contract and we will therefore provide you with cover for 12 months, unless you fail to pay your premiums when due' 'If we don't receive the premium on or before it's due date, then we will write to you asking for payment. If you don't pay the unpaid premium within 10 days of our writing to you, we will cancel the policy.' Link to comment Share on other sites More sharing options...
denomis Posted May 18, 2013 Share Posted May 18, 2013 I think you know what to do. "If we don't receive the premium on or before it's due date, then we will write to you asking for payment. If you don't pay the unpaid premium within 10 days of our writing to you, we will cancel the policy.'" Link to comment Share on other sites More sharing options...
davyboy Posted May 18, 2013 Share Posted May 18, 2013 I think you know what to do. "If we don't receive the premium on or before it's due date, then we will write to you asking for payment. If you don't pay the unpaid premium within 10 days of our writing to you, we will cancel the policy.'" Yes but there maybe a cancellation fee. Link to comment Share on other sites More sharing options...
sheffieldliz Posted May 18, 2013 Share Posted May 18, 2013 They will still chase him for the remaining amount of the policy Link to comment Share on other sites More sharing options...
neeeeeeeeeek Posted May 19, 2013 Share Posted May 19, 2013 They all vary. I cancelled mine, Highway took a £25 cancellation fee and a £20 admin fee. Year or two before i just had to pay a tenner when I cancelled my policy. Same company, different policy! Link to comment Share on other sites More sharing options...
MTheo Posted May 19, 2013 Author Share Posted May 19, 2013 I think you know what to do. "If we don't receive the premium on or before it's due date, then we will write to you asking for payment. If you don't pay the unpaid premium within 10 days of our writing to you, we will cancel the policy.'" Yeah was thinking that part, but worried about possible charges/fines etc but suppose I could take the risk and cancel direct debit. Link to comment Share on other sites More sharing options...
truman Posted May 20, 2013 Share Posted May 20, 2013 Yeah was thinking that part, but worried about possible charges/fines etc but suppose I could take the risk and cancel direct debit. That might be the worst thing to do....they'll chase you for the missing payments as well as charging a cancellation fee.. it might also reflect badly on your credit score.. why not just speak to them...? Link to comment Share on other sites More sharing options...
sheffieldliz Posted May 24, 2013 Share Posted May 24, 2013 Yeah was thinking that part, but worried about possible charges/fines etc but suppose I could take the risk and cancel direct debit. If you do that they will say you have broken the credit agreement by cancelling the direct debit an that it's a requirement for the credit agreement or they will ask you for the full amount of the annual insurance Link to comment Share on other sites More sharing options...
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