Fraudulent Assurance Policy???

The Crusher

In March 2001 my wife took out an Assurance Policy on my life with a major Insurance Company. To our horror we were notified in 2011 that the policy was subject to a 10 year review (we have since found out that this is now on an annual review basis) The options in 2011 meant that the premium would almost double or the benefit would nearly half.

This review was never pointed out to us by the seller when the policy was being bought. When requested, we recieved a copy of the original proposal form, I noted that my signature had been fraudulently signed by someone unknown to me. I put our case to the Financial Services Ombudsman, only to be told that while this matter has only come to light now, because the policy is more than 6 years old they could not help us.

I would like to hear from anyone who has had a similar experience or can offer any advice.

Many thanks

The Crusher.

Jim2007

I'm a bit confused here, what did you actually sign and why do you consider it to be fraud?

The Crusher

Thank you for your response. on the declaration section of the life application form there was provision for two signatures, (1) signature of first life assured (me) (2) Signature of applicant (my wife). My wife signed at number 2. I was never asked to sign this form, but when I received a copy of the form from the company I noted that it had a signature of my name (not a near match to my signature) at (1) I can only assume that this was done by somebody at the company, therefore, depriving me of the oppertunity to read the declaration.

Jim2007

Have you pointed this out to the bank and if so what was there response? If it really is a case of fraud, then I would think it is a matter for the Garda.....

The Crusher

Thanks Jim, I think my next step is to se the Gardai....

chris85

One issue with the guards is that there is nothing they can do as the statute of limitation of 6 years has passed. They cannot prosecute someone so they will not take it on. No point in them investigating it and finding someone at fault and nothing can be done.

This is the same reason the FSO couldnt take the matter further.

Condatis

The Statute of Limitations does not apply to indictable offences.

If fraud took place in the manner indicated there could be a number of grounds for action by the Garda – fraud and misrepresentation.

Marquis de carabas

chris85 wrote: »

One issue with the guards is that there is nothing they can do as the statute of limitation of 6 years has passed. They cannot prosecute someone so they will not take it on. No point in them investigating it and finding someone at fault and nothing can be done.

This is the same reason the FSO couldnt take the matter further.

There is no time limit for such criminal offences though the DPP may still decide no prosecution due to how old it is.

The big question is if fraud actually occurred. The forged signature is the point such a case would be made on and what will need to be shown is that the section such signature related to resulted in loss to you or gain to the policy providers. Otherwise no joy I'd say.

The last thing is that even should this result in a criminal prosecution and conviction this will not result in a refund for you. Criminal courts to not make such orders.

Your best bet is a good civil solicitor in my opinion.

chris85

Condatis wrote: »

The Statute of Limitations does not apply to indictable offences.

If fraud took place in the manner indicated there could be a number of grounds for action by the Garda – fraud and misrepresentation.

Ok stand corrected. So the fraud comes under the Criminal Justice Act 2001 by the looks of it. Fair enough.

Henry Ford III

Insurance Ombudsman is where you should go.

chris85

Henry Ford III wrote: »

Insurance Ombudsman is where you should go.

OP has already been in touch with Financial Services Ombudsman who would deal with this.

Pablo Sanchez

Why did your wife sign the application and you did not?