View Full Version : Tenerife Life Insurance 2 months cancelation

17-10-2011, 13:12
Our life insurance policies for our mortgage are due for renewal in November.

I have just received a much better quote which is €400 less than we are currently paying for the same cover from a different company. When I spoke with my bank they said that I must give 2 months notice of cancellation or I can be taken to court if I donīt pay the premium:mad:

Has anyone heard of anyone actually being taken to court for non payment of an insurance policy. I have heard of some outrageous things out here, but this takes the biscuit for me:(

I wonder that they are allowed to get away with it under European competition laws. I have still not received my renewal notification, so there is no way they give you time to get a competitive quote. Also how can they get away with threatening court action for cancelling a policy, itīs crazy.

17-10-2011, 19:50
Yes there are a number of cases where, because of failure to give the two month rule, the Institution took the clients to court, and won. It took much research to find this out at the time but I shall see if I can find it again. Highly unlikely.
There was a thread on this topic recently.