Balance Protection Insurance…
- From:
- “Joseph & Sari Grove” <grovecanada@fastmail.fm>
- To:
- “FSCO” <contactcentre@fsco.gov.on.ca>
- Date:
- Mon, 24 Oct 2011 6:39 PM (less than a minute ago)
Hello,
TD Visa has taken $2,684.70 plus interest from me for something on my TD Visa called balance protection Insurance…
I discovered a charge recently, & when I went to have it removed, they told me it was legitimate…
That is when I discovered the total amount of damage over the years…
Apparently this balance protection insurance was sold to me in a phone conversation many years ago when I was re-activating a new credit card…
Apparently they say they sent me something in writing, though I never received or read it if I did…
Honestly I was entirely unaware that I had this balance protection insurance at all…
My husband checks my statements, & he did not catch the charges either…
But even worse, I discovered that a self-employed person is not eligible to make a claim on balance protection insurance at all anyway…
When I discovered these unauthorized charges, I thought maybe I could swallow the mistake & just have TD Visa pay off my balance owing on my credit card & somehow that would make it square again…
But self-employed people cannot make a claim???
So I was sold a policy in a coercive & deceptive manner, with no annual reminders to ask me if I wanted to renew (which would have at least told me I had this policy), for something that I was completely ineligible for…???
I am hitting a brick wall with TD Insurance, who apparently thinks that everything concerning the sale of this balance protection insurance is done correctly…
How can someone sell you insurance if you can never make a claim for it? How is this legal? I am so shocked…
I am also depressed at the state of corruption that a bank of this stature can stand behind so obviously a corrupt product…
Not only would I like my monies back, but I’d like to see TD Insurance penalized for their unfair business practices…
I’d also like to see this whole balance protection insurance banned as a product in Canada in its entirety…
Do you agree?
If so, can you help in any way shape or form?
I have jumped through the appropriate hoops of talking with TD, & have gotten nowhere…
The profits from this unscrupulous device are obviously so great as to have clouded their judgement…
My husband comes from a military family & all our extra money goes to them…That money taken by TD has been taken away from people who really need it…
But worse, it has been taken in an illegal way & legislation needs to be enforced against TD…
There doesn’t even appear to be any certified insurance agents selling this thing nor administering it, nor even any of the people that I have dealt with…
How can non-certified people sell insurance products in Ontario? There needs to be laws about that too…
Any help you can give is appreciated,
Sari Grove
GroveCanada.ca
groveontario.wordpress.com
grove@sent.com
416-924-9725
