quinn direct Direct debits

tigger1962

Hi,
I've just received my renewal for health insurance for Quinn Direct. I note that if I pay my usual method ie direct from my salary, I'm getting charged an extra 3% per month (6% APR) Now it looks to me that what in fact is happening is that they are basically charging me for a loan ( there was something mentioned in an added letter about a credit agreement and signatures!) I've never experienced this before for an Insurance policy. Is this a new policy with Insurance Companies that you are basically entering a loan agreement for the year?? and is this recorded against your credit rating at the irish credit bureau as a loan?? Any thoughts?

homer911

I've passed a query to the Financial Regulator on this - its very odd! They ask you to sign a form, yet not send it in! They say you can cancel the agreement, but you must send the cancellation in within X days of signing the form that they have said I dont need to send them!

This is totally weird!

CreepingDeath

tigger1962 wrote: »

Hi,
I've just received my renewal for health insurance for Quinn Direct....Any thoughts?

I imagine it means that instead of forcing you to pay the entire annual fee up front, that they effectively let you pay off in installments.
So in their minds, they're loaning you the annual fee, and you have to pay it off
over the year.

tigger1962

I looked over the "signature" bit again... The bit that worries me is the
To Quinn Healthcare,
I/We hereby give notice that I/we wish to cancel the Credit Agreement under policy number 1234567890, which is regulated by the Consumer Credit Act 1995!!

It looks to me that i have to cancel the policy and send this back as well to cancel a credit agreement and all within 14 days!! I think I'll make an official query of this!

wmpdd3

I also got the same request, I am fuming, all prices monthly quoted on their website are net of this charge. Including this fee makes my plans would be more expensive than VHI and Vivas.

I have emailed the other providers to ask if they also have a similar charge. If I can't avoid this fee, I will have to switch suppliers.

Any ways around this agreement would be welcome!!

AnotherHelenD

My renewal includes this credit charge. They have also changed how they charge for children on their policies. This means my subscription has increased by 30% this year.
When I rang they pointed out that they hadn't had an increase since March '06. As renewals are every January it makes no difference to existing policyholders if there is an increase in March '07 or January '08 our policies still go up. Holding off on price increases was just a marketing ploy to attract new subscribers.

I feel like I am with the Ryanair of the Health Insurance sector!

Keith186

AnotherHelenD wrote: »

I feel like I am with the Ryanair of the Health Insurance sector!

I think we are. I'm going to go to Vivas I think. definitely not staying with Quinn especially after the marketing ploy. It's sly and I wouldn't like to have to claim from a sly company. Quinn have a reputation for being dodgy paying claims in general insurance. They paid €14m for a €54m claim to a Galway timber company and then tried to say that they were of the opinion that the claimant had accepted the payment as a closure on the claim. The judge roasted them in court.