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Miss-selling of Life Insurance, HELP?

Hi, it's a very long story but in a nutshell I was miss-sold life insurance by the HSBC, to proceed with my claim I have been asked to get a quote for life insurance from 1994 so they can asses the compensation, I am finding this very difficult as you can imagine, has anyone got any ideas how I can get a quote for Life Insurance from 1994?

Public Comments

1. Uhhh, if you don't already have a lawyer, I think you likely need one. You could also approach a life insurance company and ask for historical rates of their policies... Other than that, can't help much.. Sorry!
2. No way I know of.
3. What? What in this picture am I missing? Is the life insurance policy your policy or someone else's?Insurance companies never, ever ask you to do this kind of homework. Call the Department of Insurance in your state. The link is below. Just click on your state.
4. Try a friendly Insurance Broker, one independent from the banks, they may be able to help. Must say though, that HSBC are taking this a bit far they should be able to do this themself. Have you a Solicitor dealing with this, if so complain to them. Good luck.
5. 1. I'm not sure why HSBC are asking for you to provide this information. They will have access to their actuarial rates from 1994, unless they are asking for a quote from a competitor to compare with? You don't make it clear, but have you asked HSBC to check with their actuaries? 2. There are so many companies in the life insurance market, and there is a big variance in their rates. How do you know whether the cheapest provider's quote you get today, would have been the cheapest provider in 1994? Impossible to judge. You could try speaking with the Financial Services Authority (FSA). Although it was a predecessor to the FSA that regulated the industry in 1994, the FSA currently publish comparative rate tables for different products and may be able to provide back-dated info to 1994. I've copied the e-mail address below. 3. You could get a quote, today, for life insurance but give your date of birth as 15 years younger. This would assume the correct mortality rate for your age in 1994, but it would be at today's cost-rates. The cost of life insurance has come down dramatically in the last 10 years or so. So whilst this isn't ideal, it's at least a start. You could go online and get a quote by googling for life insurance, however I'd have a chat with a friendly independent financial advisor and ask for a quick quote. It literally takes 2 minutes, and I'd like to think a kind-hearted advisor would help. 4. Get a quote - using your actual date of birth - from an independent financial adviser and ask for the cheapest provider's quote. Then write to that provider's Company Actuary, explain your predicament, and ask for a comparative quote from 1994. You don't need a lawyer as one of our US repondants has suggested (why do Americans need lawyers for everything?!). You could easily do this yourself with a little perseverence! Very best of luck. I hope this helps a little.