I did know I could refuse to take it out but it was presented as something that you were expected to take out and I was misled about the level of protection it offered ie it only covered repayments for a limited period of time, rather than the long term protection I thought it offered.
Much later when I looked at it in more detail, it didn't offer much more than my existing arrangements e.g duration of being paid a salary when off sick (6 months full salary plus 6 months half salary), redundancy payments and the savings we had to continue to make payments if I was sacked. My wife was also working, and our savings were enough for a few years worth of repayments. I took it out thinking about some potentially serious long term sickness that prevented me working, but it didn't actually cover that, even though I mentioned this as the reason for taking it out. But savings, sickness pay and redundancy pay, was not discussed at the time of the remortgage, it was just sold as a complete peace of mind protection.
However, in addition to the claim being refused on the date basis, they have also refused it on the basis that my sick pay, redundancy and savings would have been insufficient to have covered the payments, so I needed the PPI and therefore not mis-sold it, BUT these things were not discussed when I took out the PPI, only asked about when filling out the current claim on the PPI being mis-sold.
So the basis of my claim was that I didn't need PPI, as I already had good provision to keep up the payments longer than the period offered by the PPI, and they are saying I did need PPI, but they have agreed they did not explain that they made a commission on selling me PPI.
However, this argument is all irrelevant, if they are properly applying the FCA cut off date, hence my question.
