I have received (after many requests) a copy of the M.I.G terms & conditions. The policy is signed only on behalf of the insurance company and is dated 4 years previous to when I took out the policy. Is it possible that these terms & conditions are the up to date version for that time or are they trying to pull a fast one ? I took out the policy in 92 and the policy is dated 88.

Also, not sure if I can fight the case of wrongly sold this policy but it does state, quote ' the Mortgagor shall have failed to make any payment due to the Insured under the Mortgage, then the Insurer will pay the Shortfall up to but not exeeding twice the Amount of the Indemnity' there is nothing to say that in the event of a payout they can pursue me for the monies paid.

any advice of anything else I should look for within this policy which may help me would be greatly received.

Many thanks Jessie

-- Jessie (jessie01@talk21.com), May 22, 2002

Answers

It would be very helpful if you could share the exact text of the policy, and the names of the lender and insurer, on the website. This would not only help you (by allowing everyone to read through it and offer comments on the subrogation issue) but would be invaluable to others in the same situation. Perhaps you could scan it in? If you are right, you can discount the amount paid out under your lender's MIG from the amount they are asking you for. Good luck,

-- Melody (mbc109@york.ac.uk), May 24, 2002.